Sterling Infrastructure, Inc. (NASDAQ:STRL – Get Free Report) shares were down 3.2% during trading on Monday . The company traded as low as $63.91 and last traded at $64.10. Approximately 219,580 shares traded hands during trading, a decline of 36% from the average daily volume of 341,644 shares. The stock had previously closed at $66.20.
Wall Street Analyst Weigh In
Separately, StockNews.com initiated coverage on Sterling Infrastructure in a report on Thursday, October 5th. They issued a “buy” rating for the company.
Sterling Infrastructure Trading Down 3.2 %
Hedge Funds Weigh In On Sterling Infrastructure
Several institutional investors have recently bought and sold shares of STRL. BlackRock Inc. lifted its stake in Sterling Infrastructure by 19.0% in the first quarter. BlackRock Inc. now owns 3,377,877 shares of the construction company’s stock valued at $127,954,000 after purchasing an additional 538,387 shares during the last quarter. Congress Asset Management Co. MA purchased a new stake in shares of Sterling Infrastructure during the second quarter worth $28,836,000. Lord Abbett & CO. LLC lifted its position in shares of Sterling Infrastructure by 347.4% during the third quarter. Lord Abbett & CO. LLC now owns 616,017 shares of the construction company’s stock worth $45,265,000 after acquiring an additional 478,331 shares in the last quarter. Royal Bank of Canada lifted its position in shares of Sterling Infrastructure by 2,182.7% during the second quarter. Royal Bank of Canada now owns 351,172 shares of the construction company’s stock worth $19,596,000 after acquiring an additional 335,788 shares in the last quarter. Finally, Great Lakes Advisors LLC purchased a new stake in shares of Sterling Infrastructure during the first quarter worth $11,437,000. Hedge funds and other institutional investors own 80.89% of the company’s stock.
Sterling Infrastructure Company Profile
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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