Balefire LLC Takes $221,000 Position in Sterling Infrastructure, Inc. $STRL

Key Points

• Balefire LLC has acquired a new stake in Sterling Infrastructure, Inc. ($STRL) worth approximately $221,000, purchasing 957 shares during the second quarter.
• Institutional investors, including Vanguard Group Inc. and Millennium Management LLC, have significantly increased their holdings in Sterling Infrastructure, contributing to over 80.95% of the stock being owned by such investors.
• Analysts have upgraded Sterling Infrastructure's stock ratings, with some firms raising their price target from $265.00 to $355.00, reflecting strong market confidence.

Balefire LLC bought a new stake in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 957 shares of the construction company's stock, valued at approximately $221,000.

Other hedge funds have also added to or reduced their stakes in the company. Triumph Capital Management bought a new position in Sterling Infrastructure during the 2nd quarter worth approximately $497,000. Lingohr Asset Management GmbH purchased a new stake in shares of Sterling Infrastructure during the second quarter valued at approximately $213,000. Amanah Holdings Trust bought a new position in shares of Sterling Infrastructure in the second quarter worth approximately $44,527,000. GK Wealth Management LLC bought a new position in shares of Sterling Infrastructure in the second quarter worth approximately $201,000. Finally, Wealth Alliance Advisory Group LLC purchased a new position in shares of Sterling Infrastructure in the second quarter worth $388,000. 80.95% of the stock is owned by institutional investors.

Sterling Infrastructure Stock Up 2.0%

STRL traded up $7.14 on Monday, hitting $367.39. The company had a trading volume of 491,353 shares, compared to its average volume of 479,599. The stock has a fifty day simple moving average of $285.29 and a 200-day simple moving average of $210.94. 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 firm has a market capitalization of $11.18 billion, a P/E ratio of 39.93, a P/E/G ratio of 2.67 and a beta of 1.35. Sterling Infrastructure, Inc. has a 52-week low of $96.34 and a 52-week high of $368.27.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. DA Davidson increased their price target on shares of Sterling Infrastructure from $265.00 to $355.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Zacks Research upgraded shares of Sterling Infrastructure from a "hold" rating to a "strong-buy" rating in a report on Friday, September 5th. Finally, Wall Street Zen upgraded Sterling Infrastructure from a "buy" rating to a "strong-buy" rating in a report on Saturday, September 13th. One research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $355.00.

Insider Buying and Selling at Sterling Infrastructure

In related news, General Counsel Mark D. Wolf sold 3,500 shares of the company's stock in a transaction 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. This represents a 10.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.70% of the stock is owned by corporate insiders.

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.