Sterling Infrastructure (NASDAQ:STRL) Cut to “Hold” at StockNews.com

StockNews.com cut shares of Sterling Infrastructure (NASDAQ:STRL) from a buy rating to a hold rating in a report published on Monday.

A number of other research firms also recently issued reports on STRL. William Blair initiated coverage on shares of Sterling Infrastructure in a research report on Friday, January 17th. They set an “outperform” rating on the stock. DA Davidson raised shares of Sterling Infrastructure from a “neutral” rating to a “buy” rating and set a $185.00 price objective for the company in a research report on Thursday, February 27th.

Sterling Infrastructure Stock Up 5.8 %

STRL stock opened at $133.95 on Monday. Sterling Infrastructure has a fifty-two week low of $93.50 and a fifty-two week high of $206.07. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.29 and a quick ratio of 1.29. The stock has a market capitalization of $4.10 billion, a price-to-earnings ratio of 22.63, a PEG ratio of 1.28 and a beta of 1.32. The business’s fifty day moving average price is $139.49 and its two-hundred day moving average price is $156.20.

Institutional Investors Weigh In On Sterling Infrastructure

A number of large investors have recently modified their holdings of the business. State Street Corp grew its position in Sterling Infrastructure by 0.7% in the third quarter. State Street Corp now owns 713,234 shares of the construction company’s stock valued at $103,433,000 after acquiring an additional 5,106 shares during the last quarter. Bay Rivers Group bought a new stake in shares of Sterling Infrastructure during the 4th quarter valued at approximately $341,000. Convergence Investment Partners LLC increased its position in Sterling Infrastructure by 47.7% during the 4th quarter. Convergence Investment Partners LLC now owns 9,297 shares of the construction company’s stock worth $1,566,000 after purchasing an additional 3,002 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Sterling Infrastructure by 7.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 666,909 shares of the construction company’s stock valued at $111,873,000 after purchasing an additional 49,008 shares during the last quarter. Finally, Park Avenue Securities LLC acquired a new stake in Sterling Infrastructure in the fourth quarter valued at approximately $253,000. Institutional investors and hedge funds own 80.95% of the company’s stock.

Sterling Infrastructure Company Profile

Sterling Infrastructure, Inc engages in the provision of e-infrastructure, transportation, and building solutions primarily in the United States. It operates through three segments: E-Infrastructure Solutions, Transportation Solutions, and Building Solutions. The E-Infrastructure Solutions segment provides site development services for the blue-chip end users in the e-commerce distribution center, data center, manufacturing, warehousing, and power generation sectors.