BI Asset Management Fondsmaeglerselskab A S Grows Stake in Sterling Infrastructure, Inc. $STRL

Key Points

• BI Asset Management Fondsmaeglerselskab A S significantly increased its stake in Sterling Infrastructure, Inc. by 895.8%, now owning 31,894 shares valued at approximately $3.6 million.
• Several institutional investors, including Sunbelt Securities Inc. and Versant Capital Management Inc., have also expanded their holdings in Sterling Infrastructure during the first quarter, indicating strong institutional support for the stock.
• Wall Street analysts have raised their target price on Sterling Infrastructure from $265 to $355 and rated the stock as a "buy," reflecting a positive outlook on the company's performance.

BI Asset Management Fondsmaeglerselskab A S increased its stake in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 895.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 31,894 shares of the construction company's stock after purchasing an additional 28,691 shares during the period. BI Asset Management Fondsmaeglerselskab A S owned 0.10% of Sterling Infrastructure worth $3,611,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of STRL. Sunbelt Securities Inc. increased its stake 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 buying an additional 200 shares in the last quarter. Versant Capital Management Inc boosted 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 acquiring an additional 185 shares during the last quarter. Opal Wealth Advisors LLC purchased a new stake in shares of Sterling Infrastructure during the first quarter worth approximately $28,000. SBI Securities Co. Ltd. raised its stake 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 purchasing an additional 257 shares during the last quarter. Finally, IFP Advisors Inc lifted its holdings in Sterling Infrastructure by 40.5% in the 1st quarter. IFP Advisors Inc now owns 923 shares of the construction company's stock valued at $104,000 after purchasing an additional 266 shares in the last quarter. 80.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on STRL. DA Davidson upped their target price 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. Wall Street Zen upgraded shares of Sterling Infrastructure from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $355.00.

Insider Activity

In related news, Director Dana C. O'brien sold 10,154 shares of the company's 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 transaction, the director directly owned 16,498 shares in the company, valued at approximately $3,408,156.84. This represents a 38.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Mark D. Wolf sold 3,500 shares of the 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 completion of the transaction, the general counsel 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 disclosure for this sale can be found here. Insiders own 3.70% of the company's stock.

Sterling Infrastructure Trading Down 0.4%

Shares of STRL stock opened at $274.89 on Thursday. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.31. Sterling Infrastructure, Inc. has a twelve month low of $96.34 and a twelve month high of $321.79. The company's 50-day moving average price is $250.69 and its 200-day moving average price is $182.59. The stock has a market cap of $8.36 billion, a price-to-earnings ratio of 29.88, a PEG ratio of 2.10 and a beta of 1.46.

Sterling Infrastructure Company 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.

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