Sierra Summit Advisors LLC Buys Shares of 4,971 Sterling Infrastructure, Inc. (NASDAQ:STRL)

Key Points

• Sierra Summit Advisors LLC acquired 4,971 shares of Sterling Infrastructure, Inc. valued at approximately $563,000 in the first quarter.
• Several institutional investors increased their stakes in Sterling Infrastructure, with 80.95% of the company's stock now owned by hedge funds and other institutions.
• Analysts have upgraded Sterling Infrastructure's stock rating, with DA Davidson raising the target price from $265.00 to $355.00 and moving from a "hold" to a "buy" rating.

Sierra Summit Advisors LLC purchased a new position in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,971 shares of the construction company's stock, valued at approximately $563,000.

Several other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Sterling Infrastructure by 6.3% in the first quarter. Vanguard Group Inc. now owns 2,682,995 shares of the construction company's stock valued at $303,742,000 after purchasing an additional 159,191 shares during the period. Invesco Ltd. grew its holdings in Sterling Infrastructure by 22.5% in the 4th quarter. Invesco Ltd. now owns 757,273 shares of the construction company's stock valued at $127,563,000 after buying an additional 139,081 shares during the last quarter. Capital Research Global Investors increased its position in Sterling Infrastructure by 78.5% in the 4th quarter. Capital Research Global Investors now owns 574,976 shares of the construction company's stock worth $96,855,000 after buying an additional 252,934 shares during the period. Congress Asset Management Co. boosted its position in shares of Sterling Infrastructure by 6.5% in the first quarter. Congress Asset Management Co. now owns 532,198 shares of the construction company's stock valued at $60,250,000 after acquiring an additional 32,255 shares during the period. Finally, GW&K Investment Management LLC grew its stake in shares of Sterling Infrastructure by 37.7% in the first quarter. GW&K Investment Management LLC now owns 500,028 shares of the construction company's stock worth $56,608,000 after acquiring an additional 136,777 shares during the last quarter. 80.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Wall Street Zen raised shares of Sterling Infrastructure from a "hold" rating to a "buy" rating in a research report on Saturday. DA Davidson boosted their price target on Sterling Infrastructure from $265.00 to $355.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th.

Sterling Infrastructure Stock Performance

Sterling Infrastructure stock traded up $18.54 on Tuesday, hitting $308.40. The company's stock had a trading volume of 701,958 shares, compared to its average volume of 544,262. The firm has a market cap of $9.38 billion, a P/E ratio of 33.52, a price-to-earnings-growth ratio of 2.20 and a beta of 1.46. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.31. The company has a fifty day moving average price of $241.02 and a 200-day moving average price of $177.12. Sterling Infrastructure, Inc. has a one year low of $96.34 and a one year high of $321.79.

Insider Activity

In related news, Director Dana C. O'brien sold 10,154 shares of Sterling Infrastructure stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $206.58, for a total transaction of $2,097,613.32. Following the completion of the transaction, the director directly owned 16,498 shares of the company's stock, valued at $3,408,156.84. This trade represents a 38.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Mark D. Wolf sold 3,500 shares of the stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $225.87, for a total value of $790,545.00. Following the sale, the general counsel owned 29,315 shares in the company, valued at approximately $6,621,379.05. This trade represents a 10.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.70% of the stock is currently owned by corporate insiders.

About Sterling Infrastructure

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.