5,750 Shares in Sterling Infrastructure, Inc. (NASDAQ:STRL) Bought by CMG Global Holdings LLC

CMG Global Holdings LLC bought a new position in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 5,750 shares of the construction company's stock, valued at approximately $651,000.

A number of other hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its position in Sterling Infrastructure by 30.0% in the fourth quarter. Vanguard Group Inc. now owns 2,523,804 shares of the construction company's stock valued at $425,135,000 after purchasing an additional 581,847 shares in the last quarter. Capital Research Global Investors increased its holdings in shares of Sterling Infrastructure by 78.5% in the fourth quarter. Capital Research Global Investors now owns 574,976 shares of the construction company's stock valued at $96,855,000 after purchasing an additional 252,934 shares during the last quarter. First Trust Advisors LP boosted its holdings in shares of Sterling Infrastructure by 74.1% during the fourth quarter. First Trust Advisors LP now owns 356,339 shares of the construction company's stock worth $60,025,000 after acquiring an additional 151,642 shares during the period. Invesco Ltd. boosted its stake 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 purchasing an additional 139,081 shares during the period. Finally, Axiom Investors LLC DE acquired a new position in shares of Sterling Infrastructure in the fourth quarter valued at about $20,373,000. 80.95% of the stock is currently owned by institutional investors.

Insider Activity

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

Analysts Set New Price Targets

A number of research analysts recently commented on STRL shares. DA Davidson boosted their price target on Sterling Infrastructure from $205.00 to $265.00 and gave the company a "buy" rating in a research note on Wednesday, June 18th. Wall Street Zen raised shares of Sterling Infrastructure from a "hold" rating to a "buy" rating in a research note on Thursday, May 22nd.

Sterling Infrastructure Trading Up 1.3%

NASDAQ STRL opened at $231.51 on Monday. The business's fifty day moving average is $187.38 and its 200-day moving average is $159.12. Sterling Infrastructure, Inc. has a one year low of $93.50 and a one year high of $235.30. The stock has a market capitalization of $7.04 billion, a price-to-earnings ratio of 27.05, a PEG ratio of 1.91 and a beta of 1.37. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.32 and a quick ratio of 1.32.

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.

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