Norden Group LLC Reduces Holdings in Sterling Infrastructure, Inc. (NASDAQ:STRL)

Norden Group LLC lessened its position in shares of Sterling Infrastructure, Inc. (NASDAQ:STRLFree Report) by 49.7% during the first quarter, Holdings Channel reports. The institutional investor owned 3,492 shares of the construction company’s stock after selling 3,451 shares during the quarter. Norden Group LLC’s holdings in Sterling Infrastructure were worth $395,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Sterling Infrastructure by 30.0% during the 4th quarter. Vanguard Group Inc. now owns 2,523,804 shares of the construction company’s stock valued at $425,135,000 after purchasing an additional 581,847 shares during the period. Pacer Advisors Inc. purchased a new position in Sterling Infrastructure during the 1st quarter valued at about $28,689,000. Capital Research Global Investors increased its position in shares of Sterling Infrastructure by 78.5% during the fourth quarter. Capital Research Global Investors now owns 574,976 shares of the construction company’s stock valued at $96,855,000 after buying an additional 252,934 shares during the period. First Trust Advisors LP increased its position in shares of Sterling Infrastructure by 74.1% during the fourth quarter. First Trust Advisors LP now owns 356,339 shares of the construction company’s stock valued at $60,025,000 after buying an additional 151,642 shares during the period. Finally, Invesco Ltd. increased its position in shares of Sterling Infrastructure by 22.5% during the fourth quarter. Invesco Ltd. now owns 757,273 shares of the construction company’s stock valued at $127,563,000 after buying an additional 139,081 shares during the period. Hedge funds and other institutional investors own 80.95% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Wall Street Zen cut Sterling Infrastructure from a “buy” rating to a “hold” rating in a research report on Saturday, July 5th. DA Davidson upped their price target on Sterling Infrastructure from $205.00 to $265.00 and gave the company a “buy” rating in a research report on Wednesday, June 18th.

View Our Latest Research Report on STRL

Sterling Infrastructure Trading Down 0.3%

Shares of STRL opened at $263.35 on Thursday. The business’s 50-day moving average price is $222.81 and its 200-day moving average price is $170.63. Sterling Infrastructure, Inc. has a twelve month low of $93.50 and a twelve month high of $270.38. The stock has a market cap of $8.01 billion, a PE ratio of 30.77, a P/E/G ratio of 2.18 and a beta of 1.40. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.34.

Insider Transactions at Sterling Infrastructure

In other Sterling Infrastructure news, Director Dana C. O’brien sold 10,154 shares of the company’s stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $206.58, for a total value of $2,097,613.32. Following the transaction, the director directly owned 16,498 shares in the company, valued at $3,408,156.84. This represents a 38.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Mark D. Wolf sold 3,500 shares of the company’s stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $225.87, for a total value of $790,545.00. Following the completion of the transaction, the general counsel owned 29,315 shares in the company, valued at $6,621,379.05. This represents a 10.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.70% of the stock is owned by corporate insiders.

About Sterling Infrastructure

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Sterling Infrastructure (NASDAQ:STRL)

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