C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Makes New Investment in Sterling Infrastructure, Inc. (NASDAQ:STRL)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) in the 4th quarter, HoldingsChannel reports. The institutional investor purchased 283,241 shares of the construction company’s stock, valued at approximately $47,712,000. Sterling Infrastructure comprises 2.2% of C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors’ investment portfolio, making the stock its 10th biggest position.

Other institutional investors have also modified their holdings of the company. Geode Capital Management LLC lifted its position in Sterling Infrastructure by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 719,980 shares of the construction company’s stock valued at $104,431,000 after purchasing an additional 3,918 shares during the last quarter. State Street Corp raised its holdings in shares of Sterling Infrastructure by 0.7% during the third quarter. State Street Corp now owns 713,234 shares of the construction company’s stock valued at $103,433,000 after buying an additional 5,106 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Sterling Infrastructure by 7.9% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 666,909 shares of the construction company’s stock valued at $111,873,000 after buying an additional 49,008 shares during the last quarter. Congress Asset Management Co. boosted its position in shares of Sterling Infrastructure by 19.1% during the third quarter. Congress Asset Management Co. now owns 647,924 shares of the construction company’s stock worth $93,962,000 after buying an additional 104,096 shares during the period. Finally, Loomis Sayles & Co. L P grew its holdings in Sterling Infrastructure by 4.9% in the 3rd quarter. Loomis Sayles & Co. L P now owns 380,972 shares of the construction company’s stock worth $55,248,000 after buying an additional 17,863 shares in the last quarter. Institutional investors own 80.95% of the company’s stock.

Insider Activity

In related news, Director Dana C. O’brien sold 2,000 shares of the firm’s stock in a transaction dated 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 $4,555,726.89. This trade represents a 7.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 3.70% of the stock is owned by insiders.

Sterling Infrastructure Price Performance

Shares of NASDAQ:STRL opened at $140.40 on Thursday. The stock has a market cap of $4.31 billion, a price-to-earnings ratio of 23.72, a PEG ratio of 1.53 and a beta of 1.24. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.29 and a quick ratio of 1.29. Sterling Infrastructure, Inc. has a 12 month low of $76.01 and a 12 month high of $206.07. The stock’s 50 day moving average price is $169.08 and its 200 day moving average price is $153.74.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. StockNews.com lowered Sterling Infrastructure from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. William Blair assumed coverage on shares of Sterling Infrastructure in a report on Friday, January 17th. They issued an “outperform” rating for the company.

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.