MetLife Investment Management LLC Sells 270 Shares of Sterling Infrastructure, Inc. $STRL

MetLife Investment Management LLC trimmed its stake in Sterling Infrastructure, Inc. (NASDAQ:STRL) by 1.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,587 shares of the construction company’s stock after selling 270 shares during the period. MetLife Investment Management LLC owned 0.06% of Sterling Infrastructure worth $1,991,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Sunbelt Securities Inc. raised its position in shares of Sterling Infrastructure by 689.7% in the 1st quarter. Sunbelt Securities Inc. now owns 229 shares of the construction company’s stock worth $26,000 after acquiring an additional 200 shares in the last quarter. Versant Capital Management Inc increased its position in Sterling Infrastructure by 355.8% during the 1st quarter. Versant Capital Management Inc now owns 237 shares of the construction company’s stock valued at $27,000 after buying an additional 185 shares in the last quarter. Opal Wealth Advisors LLC acquired a new position in Sterling Infrastructure during the 1st quarter valued at about $28,000. SBI Securities Co. Ltd. increased its position in Sterling Infrastructure by 111.3% during the 1st quarter. SBI Securities Co. Ltd. now owns 488 shares of the construction company’s stock valued at $55,000 after buying an additional 257 shares in the last quarter. Finally, AlphaQuest LLC increased its position in Sterling Infrastructure by 49.6% during the 1st quarter. AlphaQuest LLC now owns 549 shares of the construction company’s stock valued at $62,000 after buying an additional 182 shares in the last quarter. 80.95% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on STRL. Wall Street Zen lowered Sterling Infrastructure from a “strong-buy” rating to a “buy” rating in a research report on Saturday. DA Davidson upped their target price on Sterling Infrastructure from $265.00 to $355.00 and gave the company a “buy” rating in a research report on Wednesday, August 6th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $355.00.

Insider Activity

In other news, Director Dana C. O’brien sold 10,154 shares of the firm’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 completion of the transaction, the director directly owned 16,498 shares in the company, valued at $3,408,156.84. This trade represents a 38.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel Mark D. Wolf sold 3,500 shares of the firm’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 of the company’s stock, valued at approximately $6,621,379.05. The trade was a 10.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.70% of the company’s stock.

Sterling Infrastructure Trading Down 0.6%

Shares of NASDAQ:STRL opened at $276.91 on Wednesday. Sterling Infrastructure, Inc. has a 52-week low of $96.34 and a 52-week high of $321.79. The stock has a market cap of $8.42 billion, a price-to-earnings ratio of 30.10, a PEG ratio of 2.12 and a beta of 1.35. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.31. The business has a 50-day moving average price of $262.60 and a 200-day moving average price of $191.75.

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.