Allspring Global Investments Holdings LLC Acquires 49,008 Shares of Sterling Infrastructure, Inc. (NASDAQ:STRL)

Allspring Global Investments Holdings LLC lifted its holdings in Sterling Infrastructure, Inc. (NASDAQ:STRL) by 7.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 666,909 shares of the construction company’s stock after acquiring an additional 49,008 shares during the quarter. Allspring Global Investments Holdings LLC owned 2.17% of Sterling Infrastructure worth $111,873,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Principal Financial Group Inc. grew its position in Sterling Infrastructure by 1,088.1% during the 3rd quarter. Principal Financial Group Inc. now owns 355,546 shares of the construction company’s stock worth $51,561,000 after acquiring an additional 325,620 shares during the last quarter. International Assets Investment Management LLC boosted its stake in shares of Sterling Infrastructure by 14,112.0% during the third quarter. International Assets Investment Management LLC now owns 142,120 shares of the construction company’s stock valued at $20,610,000 after purchasing an additional 141,120 shares during the period. WCM Investment Management LLC bought a new position in shares of Sterling Infrastructure in the fourth quarter worth approximately $18,019,000. Congress Asset Management Co. increased its stake in shares of Sterling Infrastructure by 19.1% in the third quarter. Congress Asset Management Co. now owns 647,924 shares of the construction company’s stock worth $93,962,000 after buying an additional 104,096 shares during the period. Finally, Rockefeller Capital Management L.P. raised its holdings in Sterling Infrastructure by 58.9% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 128,824 shares of the construction company’s stock valued at $18,682,000 after buying an additional 47,734 shares during the last quarter. Hedge funds and other institutional investors own 80.95% of the company’s stock.

Sterling Infrastructure Price Performance

Shares of Sterling Infrastructure stock opened at $140.40 on Thursday. The business has a 50 day moving average of $169.08 and a 200 day moving average of $153.74. Sterling Infrastructure, Inc. has a 52 week low of $76.01 and a 52 week high of $206.07. The company has a market cap of $4.31 billion, a PE ratio of 23.72, a P/E/G ratio of 1.53 and a beta of 1.24. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.41.

Insider Buying and Selling at Sterling Infrastructure

In other news, Director Dana C. O’brien sold 2,000 shares of Sterling Infrastructure stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $175.89, for a total transaction of $351,780.00. Following the sale, the director now owns 25,901 shares of the company’s stock, valued at approximately $4,555,726.89. The trade was a 7.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 3.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on STRL shares. StockNews.com lowered shares of Sterling Infrastructure from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. William Blair assumed coverage on shares of Sterling Infrastructure in a report on Friday, January 17th. They set an “outperform” rating for the company.

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.