Mirae Asset Global Investments Co. Ltd. trimmed its position in Sterling Infrastructure, Inc. (NASDAQ:STRL – Free Report) by 8.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 386,656 shares of the construction company’s stock after selling 36,713 shares during the period. Mirae Asset Global Investments Co. Ltd. owned 1.26% of Sterling Infrastructure worth $14,647,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Raymond James & Associates raised its stake in shares of Sterling Infrastructure by 54.0% in the first quarter. Raymond James & Associates now owns 38,728 shares of the construction company’s stock worth $1,038,000 after purchasing an additional 13,578 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Sterling Infrastructure by 1.3% in the 1st quarter. Bank of New York Mellon Corp now owns 171,699 shares of the construction company’s stock worth $4,602,000 after buying an additional 2,229 shares during the period. US Bancorp DE raised its position in Sterling Infrastructure by 288.9% during the 1st quarter. US Bancorp DE now owns 3,527 shares of the construction company’s stock worth $94,000 after buying an additional 2,620 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in Sterling Infrastructure by 11.8% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 19,700 shares of the construction company’s stock valued at $528,000 after acquiring an additional 2,075 shares during the period. Finally, Bank of Montreal Can boosted its holdings in shares of Sterling Infrastructure by 18.6% in the 1st quarter. Bank of Montreal Can now owns 10,555 shares of the construction company’s stock valued at $295,000 after acquiring an additional 1,659 shares during the last quarter. Hedge funds and other institutional investors own 78.05% of the company’s stock.
Analyst Ratings Changes
STRL has been the subject of several recent research reports. DA Davidson raised their target price on shares of Sterling Infrastructure from $52.00 to $65.00 in a report on Monday, July 3rd. StockNews.com started coverage on Sterling Infrastructure in a report on Thursday, May 18th. They issued a “buy” rating for the company.
Sterling Infrastructure Trading Down 0.5 %
Insider Activity at Sterling Infrastructure
In related news, General Counsel Mark D. Wolf sold 2,000 shares of the firm’s stock in a transaction on Friday, June 9th. The shares were sold at an average price of $53.41, for a total transaction of $106,820.00. Following the sale, the general counsel now owns 32,439 shares in the company, valued at $1,732,566.99. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CFO Ronald A. Ballschmiede sold 100,000 shares of the stock in a transaction that occurred on Wednesday, June 21st. The stock was sold at an average price of $52.07, for a total transaction of $5,207,000.00. Following the transaction, the chief financial officer now owns 272,023 shares in the company, valued at approximately $14,164,237.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Mark D. Wolf sold 2,000 shares of the company’s stock in a transaction on Friday, June 9th. The stock was sold at an average price of $53.41, for a total transaction of $106,820.00. Following the transaction, the general counsel now owns 32,439 shares of the company’s stock, valued at $1,732,566.99. The disclosure for this sale can be found here. Company insiders own 3.70% of the company’s stock.
About Sterling Infrastructure
Sterling Infrastructure, Inc engages in the e-infrastructure, transportation, and building solutions primarily in the Southern United States, the Northeastern and Mid-Atlantic United States, the Rocky Mountain states, California, and Hawaii. It undertakes infrastructure and rehabilitation projects for highways, roads, bridges, airports, ports, light rail, water, wastewater, and storm drainage systems for the departments of transportation in various states, regional transit authorities, airport authorities, port authorities, water authorities and railroads.
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