Axiom Investors LLC DE Trims Stake in Sterling Infrastructure, Inc. $STRL

Key Points

• Axiom Investors LLC DE significantly reduced its stake in Sterling Infrastructure, Inc. by 73.1%, owning only 32,518 shares after selling 88,427 shares in the first quarter.
• Several other institutional investors increased their stakes substantially, with Sunbelt Securities Inc. raising its position by 689.7% and Versant Capital Management Inc. by 355.8% during the same period.
• Research analysts have mixed opinions on STRL, with Wall Street Zen lowering its rating from "strong-buy" to "buy," while DA Davidson increased its price target from $265 to $355.

Axiom Investors LLC DE reduced its stake in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 73.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 32,518 shares of the construction company's stock after selling 88,427 shares during the quarter. Axiom Investors LLC DE owned 0.11% of Sterling Infrastructure worth $3,681,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of STRL. Sunbelt Securities Inc. raised its position in Sterling Infrastructure by 689.7% during the first quarter. Sunbelt Securities Inc. now owns 229 shares of the construction company's stock valued at $26,000 after acquiring an additional 200 shares in the last quarter. Versant Capital Management Inc raised its position in Sterling Infrastructure by 355.8% during the first quarter. Versant Capital Management Inc now owns 237 shares of the construction company's stock valued at $27,000 after acquiring an additional 185 shares in the last quarter. Opal Wealth Advisors LLC purchased a new position in Sterling Infrastructure during the first quarter valued at approximately $28,000. Quarry LP raised its position in Sterling Infrastructure by 107.7% during the first quarter. Quarry LP now owns 376 shares of the construction company's stock valued at $43,000 after acquiring an additional 195 shares in the last quarter. Finally, SBI Securities Co. Ltd. raised its position in Sterling Infrastructure by 111.3% during the first 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 in the last quarter. 80.95% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Sterling Infrastructure Stock Performance

Shares of NASDAQ:STRL opened at $285.98 on Monday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.42 and a quick ratio of 1.42. The business's 50 day moving average price is $265.87 and its 200-day moving average price is $195.43. The firm 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. Sterling Infrastructure, Inc. has a 1 year low of $96.34 and a 1 year high of $321.79.

Insider Buying and Selling

In other news, General Counsel Mark D. Wolf sold 3,500 shares of Sterling Infrastructure stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $225.87, for a total value of $790,545.00. Following the sale, the general counsel directly owned 29,315 shares of the company's stock, valued at $6,621,379.05. The trade was a 10.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Dana C. O'brien sold 10,154 shares of Sterling Infrastructure stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $206.58, for a total value of $2,097,613.32. Following the completion of the sale, the director directly owned 16,498 shares in the company, valued at $3,408,156.84. This represents a 38.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.70% of the company's stock.

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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