The Manufacturers Life Insurance Company Lowers Holdings in Sterling Infrastructure, Inc. (NASDAQ:STRL)

The Manufacturers Life Insurance Company lowered its holdings in Sterling Infrastructure, Inc. (NASDAQ:STRL) by 24.5% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 44,207 shares of the construction company’s stock after selling 14,338 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.14% of Sterling Infrastructure worth $7,447,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in STRL. Hancock Whitney Corp increased its position in shares of Sterling Infrastructure by 6.7% during the fourth quarter. Hancock Whitney Corp now owns 3,537 shares of the construction company’s stock worth $596,000 after acquiring an additional 222 shares during the period. Guardian Wealth Management Inc. increased its holdings in Sterling Infrastructure by 0.6% during the 4th quarter. Guardian Wealth Management Inc. now owns 46,000 shares of the construction company’s stock worth $7,749,000 after purchasing an additional 252 shares during the period. RiverPark Advisors LLC raised its position in Sterling Infrastructure by 257.5% in the 4th quarter. RiverPark Advisors LLC now owns 6,443 shares of the construction company’s stock valued at $1,085,000 after purchasing an additional 4,641 shares in the last quarter. Harvest Investment Services LLC raised its position in Sterling Infrastructure by 143.1% in the 4th quarter. Harvest Investment Services LLC now owns 21,555 shares of the construction company’s stock valued at $3,631,000 after purchasing an additional 12,690 shares in the last quarter. Finally, TD Waterhouse Canada Inc. purchased a new position in shares of Sterling Infrastructure in the 4th quarter valued at about $436,000. 80.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. William Blair started coverage on shares of Sterling Infrastructure in a research note on Friday, January 17th. They set an “outperform” rating for the company. StockNews.com downgraded Sterling Infrastructure from a “buy” rating to a “hold” rating in a report on Wednesday, April 9th. Finally, DA Davidson upgraded Sterling Infrastructure from a “neutral” rating to a “buy” rating and set a $185.00 target price for the company in a research note on Thursday, February 27th.

Sterling Infrastructure Price Performance

Shares of NASDAQ STRL opened at $171.95 on Wednesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.29 and a quick ratio of 1.29. The company has a market cap of $5.23 billion, a PE ratio of 29.05, a P/E/G ratio of 1.28 and a beta of 1.27. The stock has a fifty day moving average price of $130.26 and a 200 day moving average price of $154.20. Sterling Infrastructure, Inc. has a 1-year low of $93.50 and a 1-year high of $206.07.

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.