Balboa Wealth Partners Boosts Holdings in Sterling Infrastructure, Inc. (NASDAQ:STRL)

Balboa Wealth Partners raised its position in Sterling Infrastructure, Inc. (NASDAQ:STRL) by 5.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,024 shares of the construction company’s stock after acquiring an additional 525 shares during the quarter. Balboa Wealth Partners’ holdings in Sterling Infrastructure were worth $1,857,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its stake in Sterling Infrastructure by 0.5% in the third quarter. Geode Capital Management LLC now owns 719,980 shares of the construction company’s stock worth $104,431,000 after acquiring an additional 3,918 shares during the last quarter. State Street Corp lifted its stake in Sterling Infrastructure by 0.7% in the third quarter. State Street Corp now owns 713,234 shares of the construction company’s stock worth $103,433,000 after acquiring an additional 5,106 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in 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 worth $111,873,000 after acquiring an additional 49,008 shares during the last quarter. Loomis Sayles & Co. L P lifted its stake in 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 worth $55,248,000 after acquiring an additional 17,863 shares during the last quarter. Finally, GW&K Investment Management LLC lifted its stake in Sterling Infrastructure by 3.4% in the fourth quarter. GW&K Investment Management LLC now owns 363,251 shares of the construction company’s stock worth $61,190,000 after acquiring an additional 12,064 shares during the last quarter. Hedge funds and other institutional investors own 80.95% of the company’s stock.

Sterling Infrastructure Stock Performance

Shares of STRL opened at $116.44 on Thursday. 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 market capitalization of $3.56 billion, a P/E ratio of 19.67, a P/E/G ratio of 1.28 and a beta of 1.32. The company’s fifty day moving average is $146.68 and its two-hundred day moving average is $155.43. Sterling Infrastructure, Inc. has a 1 year low of $93.50 and a 1 year high of $206.07.

Analyst Ratings Changes

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

Insider Buying and Selling at Sterling Infrastructure

In other Sterling Infrastructure news, Director Dana C. O’brien sold 2,000 shares of the business’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $175.89, for a total value of $351,780.00. Following the transaction, the director now directly 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.80% of the stock is currently owned by corporate insiders.

About Sterling Infrastructure

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.