Envestnet Asset Management Inc. Sells 21,900 Shares of Sterling Infrastructure, Inc. (NASDAQ:STRL)

Envestnet Asset Management Inc. cut its stake in Sterling Infrastructure, Inc. (NASDAQ:STRL) by 26.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,200 shares of the construction company’s stock after selling 21,900 shares during the period. Envestnet Asset Management Inc.’s holdings in Sterling Infrastructure were worth $10,141,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. SBI Securities Co. Ltd. acquired a new position in Sterling Infrastructure in the fourth quarter valued at about $39,000. Huntington National Bank increased its holdings in Sterling Infrastructure by 34.6% in the 4th quarter. Huntington National Bank now owns 288 shares of the construction company’s stock valued at $49,000 after buying an additional 74 shares during the period. National Bank of Canada FI acquired a new position in shares of Sterling Infrastructure in the 4th quarter valued at approximately $56,000. Arcadia Investment Management Corp MI bought a new stake in shares of Sterling Infrastructure during the 4th quarter worth approximately $71,000. Finally, Venturi Wealth Management LLC boosted its position in shares of Sterling Infrastructure by 1,369.0% during the 4th quarter. Venturi Wealth Management LLC now owns 617 shares of the construction company’s stock worth $104,000 after acquiring an additional 575 shares in the last quarter. 80.95% of the stock is currently owned by institutional investors.

Sterling Infrastructure Stock Performance

NASDAQ STRL opened at $140.27 on Friday. The firm’s fifty day moving average price is $124.01 and its two-hundred day moving average price is $154.49. The stock has a market cap of $4.27 billion, a PE ratio of 23.69, a PEG ratio of 1.28 and a beta of 1.19. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.29 and a current ratio of 1.29. Sterling Infrastructure, Inc. has a fifty-two week low of $93.50 and a fifty-two week high of $206.07.

Analysts Set New Price Targets

Several research analysts have commented on STRL shares. DA Davidson upgraded 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. StockNews.com cut Sterling Infrastructure from a “buy” rating to a “hold” rating in a report on Wednesday, April 9th. Finally, William Blair began coverage on Sterling Infrastructure in a research note on Friday, January 17th. They issued an “outperform” rating on the stock.

Sterling Infrastructure 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.