Ausbil Investment Management Ltd Sells 1,993 Shares of Sterling Infrastructure, Inc. $STRL

Key Points

• Ausbil Investment Management Ltd significantly reduced its stake in Sterling Infrastructure, Inc. by 70.9%, selling 1,993 shares and holding 818 shares valued at $189,000 at the end of the last quarter.
• Other institutional investors have increased their stakes in Sterling Infrastructure, with Armstrong Advisory Group Inc. and MCF Advisors LLC raising their holdings by 93.2% and 97.7%, respectively.
• Sterling Infrastructure shares recently received mixed ratings from analysts, with Wall Street Zen downgrading the stock to "buy" while Zacks Research upgraded it to "strong-buy"; the average target price is $355.00.

Ausbil Investment Management Ltd cut its stake in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 70.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 818 shares of the construction company's stock after selling 1,993 shares during the quarter. Ausbil Investment Management Ltd's holdings in Sterling Infrastructure were worth $189,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Armstrong Advisory Group Inc. raised its holdings in shares of Sterling Infrastructure by 93.2% in the second quarter. Armstrong Advisory Group Inc. now owns 170 shares of the construction company's stock valued at $39,000 after purchasing an additional 82 shares during the last quarter. MCF Advisors LLC increased its stake in shares of Sterling Infrastructure by 97.7% in the second quarter. MCF Advisors LLC now owns 172 shares of the construction company's stock worth $40,000 after purchasing an additional 85 shares in the last quarter. Sunbelt Securities Inc. increased its stake 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 worth $26,000 after purchasing an additional 200 shares in the last quarter. Versant Capital Management Inc increased 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 purchasing an additional 185 shares in the last quarter. Finally, Opal Wealth Advisors LLC purchased a new position in shares of Sterling Infrastructure in the first quarter worth about $28,000. Institutional investors and hedge funds own 80.95% of the company's stock.

Sterling Infrastructure Trading Up 1.1%

Shares of STRL opened at $342.11 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.42 and a current ratio of 1.42. Sterling Infrastructure, Inc. has a fifty-two week low of $96.34 and a fifty-two week high of $376.75. The firm has a 50 day moving average price of $293.55 and a 200-day moving average price of $216.79. The firm has a market cap of $10.41 billion, a price-to-earnings ratio of 37.19, a PEG ratio of 2.53 and a beta of 1.35.

Wall Street Analyst Weigh In

STRL has been the subject of several recent research reports. Wall Street Zen downgraded shares of Sterling Infrastructure from a "strong-buy" rating to a "buy" rating in a research note on Friday. Zacks Research upgraded shares of Sterling Infrastructure from a "hold" rating to a "strong-buy" rating in a research report on Friday, September 5th. Finally, DA Davidson boosted their price objective on shares of Sterling Infrastructure from $265.00 to $355.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $355.00.

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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