Aristides Capital LLC Invests $846,000 in Sterling Infrastructure, Inc. $STRL

Key Points

• Aristides Capital LLC acquired 7,477 shares of Sterling Infrastructure, Inc. valued at approximately $846,000 during the first quarter.
• Several institutional investors, including Vanguard Group and GW&K Investment Management, have increased their stakes in Sterling Infrastructure, with institutional ownership reaching 80.95%.
• Wall Street analysts have raised their target price for Sterling Infrastructure from $265.00 to $355.00, reflecting a positive consensus rating of "Buy" for the stock.

Aristides Capital LLC bought a new stake in Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 7,477 shares of the construction company's stock, valued at approximately $846,000.

Other hedge funds also recently modified their holdings of the company. Sunbelt Securities Inc. raised its position in shares of Sterling Infrastructure by 689.7% in the first quarter. Sunbelt Securities Inc. now owns 229 shares of the construction company's stock valued at $26,000 after buying an additional 200 shares during the last quarter. Versant Capital Management Inc grew its stake in Sterling Infrastructure by 355.8% in the 1st 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 acquired a new position in Sterling Infrastructure in the 1st quarter valued at $28,000. SBI Securities Co. Ltd. raised its holdings in Sterling Infrastructure by 111.3% in the 1st quarter. SBI Securities Co. Ltd. now owns 488 shares of the construction company's stock valued at $55,000 after acquiring an additional 257 shares during the last quarter. Finally, AlphaQuest LLC lifted its stake in shares of Sterling Infrastructure by 49.6% during the 1st quarter. AlphaQuest LLC now owns 549 shares of the construction company's stock worth $62,000 after purchasing an additional 182 shares during the period. 80.95% of the stock is owned by institutional investors and hedge funds.

Sterling Infrastructure Trading Up 0.5%

NASDAQ:STRL traded up $1.59 on Thursday, hitting $290.95. 344,376 shares of the stock were exchanged, compared to its average volume of 553,843. The stock has a market cap of $8.85 billion, a PE ratio of 31.63, a PEG ratio of 2.20 and a beta of 1.46. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.31. The stock has a fifty day moving average of $259.31 and a 200-day moving average of $188.45. Sterling Infrastructure, Inc. has a fifty-two week low of $96.34 and a fifty-two week high of $321.79.

Insider Buying and Selling

In related news, General Counsel Mark D. Wolf sold 3,500 shares of the stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $225.87, for a total transaction of $790,545.00. Following the completion of the sale, the general counsel owned 29,315 shares of the company's stock, valued at approximately $6,621,379.05. This represents a 10.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dana C. O'brien sold 10,154 shares of Sterling Infrastructure stock in a transaction that occurred on 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 transaction, the director directly owned 16,498 shares in the company, valued at approximately $3,408,156.84. This trade represents a 38.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.70% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on STRL shares. DA Davidson lifted their price objective on Sterling Infrastructure from $265.00 to $355.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Wall Street Zen raised Sterling Infrastructure from a "buy" rating to a "strong-buy" rating in a research note on Friday, August 22nd. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target 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.