Axiom Investors LLC DE Reduces Stock Holdings in Sterling Infrastructure, Inc. $STRL

Key Points

• Axiom Investors LLC DE sold 88,427 shares of Sterling Infrastructure, reducing its holdings by 73.1%, leaving them with approximately 32,518 shares valued at about $3.68 million.
• Other institutional investors, including Sunbelt Securities Inc. and Versant Capital Management Inc., significantly increased their stakes in Sterling Infrastructure in the first quarter, with Sunbelt growing its holdings by 689.7%.
• Analysts are optimistic about Sterling Infrastructure, with DA Davidson raising its price target from $265 to $355 and the stock receiving a consensus rating of "Buy."

Axiom Investors LLC DE reduced its holdings in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 73.1% in the first quarter, according to its most recent filing with the SEC. The fund owned 32,518 shares of the construction company's stock after selling 88,427 shares during the period. Axiom Investors LLC DE owned about 0.11% of Sterling Infrastructure worth $3,681,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Sunbelt Securities Inc. increased its holdings in 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 period. Versant Capital Management Inc increased its holdings in 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 period. Opal Wealth Advisors LLC purchased a new position in Sterling Infrastructure during the 1st quarter worth $28,000. SBI Securities Co. Ltd. increased its holdings in 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 period. Finally, AlphaQuest LLC increased its holdings in 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 currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Insider Buying and Selling at Sterling Infrastructure

In other news, General Counsel Mark D. Wolf sold 3,500 shares of Sterling Infrastructure stock in a transaction 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 directly owned 29,315 shares in the company, valued at approximately $6,621,379.05. The trade was a 10.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Dana C. O'brien sold 10,154 shares of the company'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 completion of the transaction, the director directly owned 16,498 shares in the company, valued at approximately $3,408,156.84. The trade was a 38.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.70% of the company's stock.

Sterling Infrastructure Stock Up 0.5%

Shares of STRL traded up $1.59 during mid-day trading on Thursday, hitting $290.95. 344,376 shares of the company traded hands, compared to its average volume of 651,271. The company has a market capitalization of $8.85 billion, a PE ratio of 31.63, a price-to-earnings-growth ratio of 2.23 and a beta of 1.46. 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 business has a 50 day moving average of $257.97 and a 200 day moving average of $187.48. Sterling Infrastructure, Inc. has a 1-year low of $96.34 and a 1-year high of $321.79.

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.