Cim Investment Management Inc. bought a new stake in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL – Free Report) in the second quarter, Holdings Channel.com reports. The fund bought 2,352 shares of the construction company’s stock, valued at approximately $278,000.
Several other hedge funds have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its position in shares of Sterling Infrastructure by 29.4% during the fourth quarter. Principal Financial Group Inc. now owns 17,381 shares of the construction company’s stock worth $1,528,000 after buying an additional 3,947 shares during the period. Cambridge Investment Research Advisors Inc. boosted its position in Sterling Infrastructure by 64.8% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 22,673 shares of the construction company’s stock valued at $1,994,000 after acquiring an additional 8,913 shares during the last quarter. First Trust Advisors LP grew its holdings in Sterling Infrastructure by 17.6% during the 4th quarter. First Trust Advisors LP now owns 337,296 shares of the construction company’s stock worth $29,658,000 after acquiring an additional 50,573 shares during the period. BOKF NA raised its position in shares of Sterling Infrastructure by 0.4% in the 4th quarter. BOKF NA now owns 138,109 shares of the construction company’s stock worth $12,144,000 after acquiring an additional 491 shares in the last quarter. Finally, Guardian Wealth Management Inc. lifted its stake in shares of Sterling Infrastructure by 36.1% in the 4th quarter. Guardian Wealth Management Inc. now owns 40,815 shares of the construction company’s stock valued at $3,589,000 after purchasing an additional 10,818 shares during the period. Institutional investors own 80.95% of the company’s stock.
Sterling Infrastructure Stock Down 1.8 %
Sterling Infrastructure stock opened at $143.26 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $4.42 billion, a PE ratio of 29.78, a PEG ratio of 1.76 and a beta of 1.16. The firm’s fifty day moving average is $118.82 and its 200 day moving average is $115.78. Sterling Infrastructure, Inc. has a 12-month low of $55.45 and a 12-month high of $152.00.
Insider Buying and Selling at Sterling Infrastructure
In other news, EVP Ronald A. Ballschmiede sold 18,700 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $143.59, for a total transaction of $2,685,133.00. Following the transaction, the executive vice president now directly owns 248,471 shares of the company’s stock, valued at $35,677,950.89. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 3.70% of the company’s stock.
Analyst Upgrades and Downgrades
Separately, StockNews.com downgraded Sterling Infrastructure from a “buy” rating to a “hold” rating in a report on Sunday, September 15th.
Get Our Latest Stock Report on STRL
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.
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