Connor Clark & Lunn Investment Management Ltd. Sells 33,678 Shares of Sterling Infrastructure, Inc. (NASDAQ:STRL)

Connor Clark & Lunn Investment Management Ltd. cut its stake in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) by 27.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 89,033 shares of the construction company’s stock after selling 33,678 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Sterling Infrastructure were worth $14,998,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Truvestments Capital LLC lifted its holdings in Sterling Infrastructure by 18.4% during the 4th quarter. Truvestments Capital LLC now owns 7,069 shares of the construction company’s stock worth $1,191,000 after purchasing an additional 1,097 shares during the last quarter. SHEPHERD WEALTH MANAGEMENT Ltd LIABILITY Co bought a new stake in shares of Sterling Infrastructure in the fourth quarter valued at about $1,063,000. Prosperity Financial Group Inc. acquired a new position in shares of Sterling Infrastructure in the fourth quarter valued at about $233,000. Moran Wealth Management LLC bought a new position in Sterling Infrastructure during the fourth quarter worth about $429,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Sterling Infrastructure by 13.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,583 shares of the construction company’s stock worth $1,446,000 after purchasing an additional 1,043 shares in the last quarter. Institutional investors own 80.95% of the company’s stock.

Sterling Infrastructure Trading Up 1.2 %

Shares of Sterling Infrastructure stock opened at $117.81 on Friday. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.41. Sterling Infrastructure, Inc. has a 12-month low of $93.50 and a 12-month high of $206.07. The company has a market capitalization of $3.61 billion, a price-to-earnings ratio of 19.90, a PEG ratio of 1.28 and a beta of 1.32. The firm’s 50-day moving average price is $145.68 and its two-hundred day moving average price is $155.17.

Wall Street Analyst Weigh In

STRL has been the topic of several recent research reports. William Blair began coverage on shares of Sterling Infrastructure in a report on Friday, January 17th. They set an “outperform” rating on the stock. DA Davidson raised Sterling Infrastructure from a “neutral” rating to a “buy” rating and set a $185.00 price target on the stock in a research report on Thursday, February 27th. Finally, StockNews.com raised Sterling Infrastructure from a “hold” rating to a “buy” rating in a report on Thursday, March 6th.

Insiders Place Their Bets

In other news, Director Dana C. O’brien sold 2,000 shares of the business’s stock in a transaction on Wednesday, December 18th. The stock was 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.80% of the company’s stock.

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.