Kovack Advisors Inc. Boosts Stock Holdings in Sterling Infrastructure, Inc. (NASDAQ:STRL)

Kovack Advisors Inc. boosted its position in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) by 3.2% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 2,914 shares of the construction company’s stock after buying an additional 91 shares during the period. Kovack Advisors Inc.’s holdings in Sterling Infrastructure were worth $491,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Geode Capital Management LLC increased its stake in Sterling Infrastructure by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 719,980 shares of the construction company’s stock worth $104,431,000 after buying an additional 3,918 shares in the last quarter. State Street Corp grew its position in shares of Sterling Infrastructure by 0.7% in the third quarter. State Street Corp now owns 713,234 shares of the construction company’s stock valued at $103,433,000 after purchasing an additional 5,106 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Sterling Infrastructure by 7.9% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 666,909 shares of the construction company’s stock valued at $111,873,000 after purchasing an additional 49,008 shares in the last quarter. Loomis Sayles & Co. L P grew its position in shares of Sterling Infrastructure by 4.9% in the third quarter. Loomis Sayles & Co. L P now owns 380,972 shares of the construction company’s stock valued at $55,248,000 after purchasing an additional 17,863 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of Sterling Infrastructure by 1,088.1% in the third quarter. Principal Financial Group Inc. now owns 355,546 shares of the construction company’s stock valued at $51,561,000 after purchasing an additional 325,620 shares in the last quarter. 80.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on STRL shares. DA Davidson upgraded Sterling Infrastructure from a “neutral” rating to a “buy” rating and set a $185.00 price target for the company in a research report on Thursday. StockNews.com upgraded Sterling Infrastructure from a “hold” rating to a “buy” rating in a research report on Thursday, February 20th. Finally, William Blair started coverage on Sterling Infrastructure in a research report on Friday, January 17th. They issued an “outperform” rating for the company.

Insider Buying and Selling

In related news, Director Dana C. O’brien sold 2,000 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $175.89, for a total value of $351,780.00. Following the completion of the transaction, the director now directly owns 25,901 shares in the company, valued at approximately $4,555,726.89. This represents a 7.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 3.70% of the stock is currently owned by company insiders.

Sterling Infrastructure Trading Up 3.3 %

Shares of Sterling Infrastructure stock opened at $127.21 on Friday. The firm has a market capitalization of $3.91 billion, a price-to-earnings ratio of 21.49, a PEG ratio of 1.28 and a beta of 1.24. Sterling Infrastructure, Inc. has a fifty-two week low of $93.50 and a fifty-two week high of $206.07. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.29 and a current ratio of 1.29. The stock has a 50 day moving average of $156.18 and a 200 day moving average of $154.64.

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.