Ieq Capital LLC Takes $704,000 Position in Sterling Infrastructure, Inc. (NASDAQ:STRL)

Ieq Capital LLC acquired a new position in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) in the 4th quarter, Holdings Channel reports. The fund acquired 4,181 shares of the construction company’s stock, valued at approximately $704,000.

Several other large investors have also made changes to their positions in STRL. Convergence Investment Partners LLC increased its position in Sterling Infrastructure by 47.7% in the 4th quarter. Convergence Investment Partners LLC now owns 9,297 shares of the construction company’s stock worth $1,566,000 after buying an additional 3,002 shares during the period. New York State Common Retirement Fund grew its stake in shares of Sterling Infrastructure by 5.2% in the fourth quarter. New York State Common Retirement Fund now owns 86,647 shares of the construction company’s stock worth $14,596,000 after acquiring an additional 4,269 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in Sterling Infrastructure during the fourth quarter worth $47,712,000. Kornitzer Capital Management Inc. KS raised its stake in Sterling Infrastructure by 10.3% during the 4th quarter. Kornitzer Capital Management Inc. KS now owns 65,760 shares of the construction company’s stock valued at $11,077,000 after purchasing an additional 6,140 shares during the last quarter. Finally, Venturi Wealth Management LLC raised its stake in Sterling Infrastructure by 1,369.0% during the 4th quarter. Venturi Wealth Management LLC now owns 617 shares of the construction company’s stock valued at $104,000 after purchasing an additional 575 shares during the last quarter. Institutional investors and hedge funds own 80.95% of the company’s stock.

Insider Buying and Selling at Sterling Infrastructure

In other news, Director Dana C. O’brien sold 2,000 shares of the firm’s 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 completion of the transaction, the director now directly owns 25,901 shares of the company’s stock, valued at approximately $4,555,726.89. This trade represents a 7.17 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.70% of the company’s stock.

Sterling Infrastructure Stock Performance

Shares of NASDAQ STRL opened at $115.94 on Wednesday. The firm has a market capitalization of $3.56 billion, a price-to-earnings ratio of 19.58, a PEG ratio of 1.28 and a beta of 1.24. Sterling Infrastructure, Inc. has a one year low of $87.90 and a one year high of $206.07. The business has a fifty day simple moving average of $158.12 and a 200 day simple moving average of $155.09. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.41.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. StockNews.com upgraded shares of Sterling Infrastructure from a “hold” rating to a “buy” rating in a research report on Thursday, February 20th. William Blair began coverage on Sterling Infrastructure in a research report on Friday, January 17th. They set 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.