Amanah Holdings Trust Purchases Shares of 191,300 Sterling Infrastructure, Inc. $STRL

Key Points

• Amanah Holdings Trust acquired 191,300 shares of Sterling Infrastructure, valued at approximately $44.5 million, making it the Trust's largest holding, representing 11.1% of its portfolio.
• Recent analysis upgrades by Zacks Research and Wall Street Zen moved Sterling's rating to strong-buy, with DA Davidson increasing the price target from $265 to $355.
• Approximately 80.95% of Sterling Infrastructure's stock is currently owned by institutional investors, indicating strong institutional support for the company.

Amanah Holdings Trust purchased a new stake in Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 191,300 shares of the construction company's stock, valued at approximately $44,527,000. Sterling Infrastructure comprises 11.1% of Amanah Holdings Trust's holdings, making the stock its largest holding. Amanah Holdings Trust owned 0.63% of Sterling Infrastructure at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of STRL. Sunbelt Securities Inc. increased its stake in shares of Sterling Infrastructure by 689.7% during the 1st quarter. Sunbelt Securities Inc. now owns 229 shares of the construction company's stock worth $26,000 after purchasing an additional 200 shares during the last quarter. Versant Capital Management Inc increased its stake in shares of Sterling Infrastructure by 355.8% during the 1st quarter. Versant Capital Management Inc now owns 237 shares of the construction company's stock worth $27,000 after purchasing an additional 185 shares during the last quarter. Opal Wealth Advisors LLC acquired a new position in shares of Sterling Infrastructure during the 1st quarter worth about $28,000. Quarry LP increased its stake in shares of Sterling Infrastructure by 107.7% during the 1st 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. increased its stake in shares of Sterling Infrastructure by 111.3% during 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 last quarter. 80.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Sterling Infrastructure

In other Sterling Infrastructure news, General Counsel Mark D. Wolf sold 3,500 shares of the business'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 completion of the sale, the general counsel owned 29,315 shares of the company's stock, valued at $6,621,379.05. The trade was a 10.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 2.70% of the stock is owned by corporate insiders.

Sterling Infrastructure Stock Performance

NASDAQ STRL opened at $313.55 on Monday. 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 market capitalization of $9.54 billion, a P/E ratio of 34.08, a P/E/G ratio of 2.32 and a beta of 1.35. Sterling Infrastructure, Inc. has a 12-month low of $96.34 and a 12-month high of $321.79. The firm has a 50-day moving average price of $272.84 and a two-hundred day moving average price of $201.85.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on STRL shares. Zacks Research upgraded shares of Sterling Infrastructure from a "hold" rating to a "strong-buy" rating in a research note on Friday, September 5th. Wall Street Zen upgraded shares of Sterling Infrastructure from a "buy" rating to a "strong-buy" rating in a research note on Saturday. Finally, DA Davidson upped their price target on shares of Sterling Infrastructure from $265.00 to $355.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $355.00.

Sterling Infrastructure Profile

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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