Advisors Asset Management Inc. Acquires 997 Shares of Sterling Infrastructure, Inc. $STRL

Key Points

• Advisors Asset Management Inc. increased its stake in Sterling Infrastructure, Inc. by 2.4%, acquiring an additional 997 shares, bringing its total holdings to 41,727 shares valued at approximately $4.72 million.
• Institutional investors now own 80.95% of Sterling Infrastructure's stock, with notable investments from firms like Pacer Advisors Inc. and Vanguard Group Inc., the latter boosting its holdings by 6.3%.
• Sterling Infrastructure's stock received a consensus rating of "Buy" from analysts, with a recent price target increase by DA Davidson from $265 to $355.

Advisors Asset Management Inc. grew its position in Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 2.4% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 41,727 shares of the construction company's stock after buying an additional 997 shares during the period. Advisors Asset Management Inc. owned approximately 0.14% of Sterling Infrastructure worth $4,724,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in STRL. Sunbelt Securities Inc. raised its holdings in Sterling Infrastructure by 689.7% in the 1st quarter. Sunbelt Securities Inc. now owns 229 shares of the construction company's stock worth $26,000 after acquiring an additional 200 shares during the last quarter. Versant Capital Management Inc grew its stake in shares of Sterling Infrastructure by 355.8% in the first quarter. Versant Capital Management Inc now owns 237 shares of the construction company's stock worth $27,000 after acquiring an additional 185 shares during the period. Opal Wealth Advisors LLC bought a new position in Sterling Infrastructure during the first quarter valued at approximately $28,000. Quarry LP boosted its holdings in Sterling Infrastructure by 107.7% in the first quarter. Quarry LP now owns 376 shares of the construction company's stock worth $43,000 after purchasing an additional 195 shares during the last quarter. Finally, SBI Securities Co. Ltd. grew its position in Sterling Infrastructure by 111.3% in the 1st quarter. SBI Securities Co. Ltd. now owns 488 shares of the construction company's stock worth $55,000 after purchasing an additional 257 shares during the period. Hedge funds and other institutional investors own 80.95% of the company's stock.

Sterling Infrastructure Stock Performance

Sterling Infrastructure stock traded down $2.70 during midday trading on Friday, hitting $285.98. The stock had a trading volume of 498,723 shares, compared to its average volume of 430,810. Sterling Infrastructure, Inc. has a 52-week low of $96.34 and a 52-week high of $321.79. The company has a market capitalization of $8.70 billion, a PE ratio of 31.08, a P/E/G ratio of 2.12 and a beta of 1.35. The firm's fifty day moving average is $265.87 and its two-hundred day moving average is $195.43. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.31.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on STRL shares. DA Davidson increased their price target on Sterling Infrastructure from $265.00 to $355.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Wall Street Zen cut Sterling Infrastructure from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 30th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $355.00.

Insiders Place Their Bets

In other Sterling Infrastructure news, Director Dana C. O'brien sold 10,154 shares of the business's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $206.58, for a total value of $2,097,613.32. Following the sale, the director owned 16,498 shares in the company, valued at $3,408,156.84. The trade was a 38.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value of $790,545.00. Following the transaction, the general counsel owned 29,315 shares of the company's stock, valued at approximately $6,621,379.05. The trade was a 10.67% decrease in their position. The disclosure for this sale can be found here. 2.70% of the stock is currently owned by 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.