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

Kovack Advisors Inc. raised its position in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) by 3.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,914 shares of the construction company’s stock after purchasing an additional 91 shares during the quarter. Kovack Advisors Inc.’s holdings in Sterling Infrastructure were worth $491,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. State Street Corp grew its stake in Sterling Infrastructure by 0.7% during the 3rd 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 during the last quarter. Bay Rivers Group purchased a new stake in Sterling Infrastructure during the 4th quarter valued at about $341,000. Allspring Global Investments Holdings LLC grew its stake in Sterling Infrastructure by 7.9% during the 4th 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 during the last quarter. Convergence Investment Partners LLC grew its stake in Sterling Infrastructure by 47.7% during the 4th quarter. Convergence Investment Partners LLC now owns 9,297 shares of the construction company’s stock valued at $1,566,000 after purchasing an additional 3,002 shares during the last quarter. Finally, Park Avenue Securities LLC purchased a new stake in Sterling Infrastructure during the 4th quarter valued at about $253,000. Hedge funds and other institutional investors own 80.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on STRL. William Blair began coverage on Sterling Infrastructure in a report on Friday, January 17th. They issued an “outperform” rating for the company. StockNews.com raised Sterling Infrastructure from a “hold” rating to a “buy” rating in a report on Thursday, February 20th. Finally, DA Davidson raised Sterling Infrastructure from a “neutral” rating to a “buy” rating and set a $185.00 price objective for the company in a report on Thursday.

Insider Buying and Selling

In related news, Director Dana C. O’brien sold 2,000 shares of the company’s stock in a transaction dated 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 owns 25,901 shares of the company’s stock, valued at approximately $4,555,726.89. This represents a 7.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.70% of the stock is currently owned by insiders.

Sterling Infrastructure Stock Performance

Shares of STRL stock opened at $127.21 on Friday. The stock has a market cap of $3.91 billion, a PE ratio of 21.49, a price-to-earnings-growth ratio of 1.28 and a beta of 1.24. The business has a 50-day simple moving average of $156.18 and a 200-day simple moving average of $154.64. 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 52-week low of $93.50 and a 52-week high of $206.07.

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.