Raymond James Financial Inc. Purchases Shares of 99,208 Sterling Infrastructure, Inc. (NASDAQ:STRL)

Raymond James Financial Inc. purchased a new stake in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund purchased 99,208 shares of the construction company’s stock, valued at approximately $16,712,000. Raymond James Financial Inc. owned about 0.32% of Sterling Infrastructure as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Quarry LP boosted its stake in Sterling Infrastructure by 510.7% during the 3rd quarter. Quarry LP now owns 171 shares of the construction company’s stock valued at $25,000 after purchasing an additional 143 shares during the last quarter. Huntington National Bank boosted its stake in shares of Sterling Infrastructure by 21,300.0% in the 3rd quarter. Huntington National Bank now owns 214 shares of the construction company’s stock worth $31,000 after buying an additional 213 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Sterling Infrastructure in the 4th quarter worth approximately $39,000. Arcadia Investment Management Corp MI purchased a new position in shares of Sterling Infrastructure in the 4th quarter worth approximately $71,000. Finally, Private Trust Co. NA purchased a new position in shares of Sterling Infrastructure in the 3rd quarter worth approximately $78,000. Institutional investors and hedge funds own 80.95% of the company’s stock.

Sterling Infrastructure Price Performance

Sterling Infrastructure stock opened at $120.49 on Tuesday. Sterling Infrastructure, Inc. has a 12 month low of $93.50 and a 12 month high of $206.07. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.41. The business’s 50 day simple moving average is $143.41 and its 200 day simple moving average is $155.74. The company has a market cap of $3.69 billion, a price-to-earnings ratio of 20.35, a PEG ratio of 1.28 and a beta of 1.32.

Insider Activity at Sterling Infrastructure

In related news, Director Dana C. O’brien sold 2,000 shares of the company’s 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 transaction, the director now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.70% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on STRL. DA Davidson upgraded Sterling Infrastructure from a “neutral” rating to a “buy” rating and set a $185.00 target price on the stock in a research note on Thursday, February 27th. William Blair began coverage on Sterling Infrastructure in a research note on Friday, January 17th. They issued an “outperform” rating on the stock. Finally, StockNews.com upgraded Sterling Infrastructure from a “hold” rating to a “buy” rating in a research note on Thursday, March 6th.

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.