Boston Partners Buys 78,215 Shares of Sterling Infrastructure, Inc. $STRL

Key Points

• Boston Partners increased its stake in Sterling Infrastructure, Inc. by 42.8% during the first quarter, now owning a total of 260,947 shares valued at approximately $30.3 million.
• Institutional investors collectively hold 80.95% of Sterling Infrastructure's stock, with notable increases in positions from firms such as Sunbelt Securities and Versant Capital Management.
• Analysts have recently upgraded Sterling Infrastructure's stock, with DA Davidson raising its price target from $265 to $355 and changing its rating to "buy."

Boston Partners grew its holdings in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 42.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 260,947 shares of the construction company's stock after buying an additional 78,215 shares during the quarter. Boston Partners owned approximately 0.86% of Sterling Infrastructure worth $30,308,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in STRL. Vanguard Group Inc. increased its stake in shares of Sterling Infrastructure by 6.3% during the 1st quarter. Vanguard Group Inc. now owns 2,682,995 shares of the construction company's stock worth $303,742,000 after purchasing an additional 159,191 shares during the last quarter. Capital Research Global Investors raised its holdings in Sterling Infrastructure by 78.5% in the 4th quarter. Capital Research Global Investors now owns 574,976 shares of the construction company's stock valued at $96,855,000 after acquiring an additional 252,934 shares during the period. Congress Asset Management Co. raised its holdings in Sterling Infrastructure by 6.5% in the 1st quarter. Congress Asset Management Co. now owns 532,198 shares of the construction company's stock valued at $60,250,000 after acquiring an additional 32,255 shares during the period. GW&K Investment Management LLC raised its holdings in Sterling Infrastructure by 37.7% in the 1st quarter. GW&K Investment Management LLC now owns 500,028 shares of the construction company's stock valued at $56,608,000 after acquiring an additional 136,777 shares during the period. Finally, First Trust Advisors LP raised its holdings in Sterling Infrastructure by 74.1% in the 4th quarter. First Trust Advisors LP now owns 356,339 shares of the construction company's stock valued at $60,025,000 after acquiring an additional 151,642 shares during the period. 80.95% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on STRL shares. Wall Street Zen raised shares of Sterling Infrastructure from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. DA Davidson boosted their price target on Sterling Infrastructure from $265.00 to $355.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $355.00.

Sterling Infrastructure Price Performance

Shares of Sterling Infrastructure stock traded down $7.7850 on Tuesday, reaching $275.4150. 301,943 shares of the stock were exchanged, compared to its average volume of 663,017. The firm's 50 day moving average is $247.73 and its 200-day moving average is $181.29. Sterling Infrastructure, Inc. has a one year low of $96.34 and a one year high of $321.79. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.42 and a current ratio of 1.42. The firm has a market cap of $8.38 billion, a PE ratio of 29.95, a P/E/G ratio of 2.09 and a beta of 1.46.

Insider Buying and Selling

In other 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 shares were sold at an average price of $206.58, for a total transaction of $2,097,613.32. Following the completion of the sale, the director owned 16,498 shares of the company's stock, valued at approximately $3,408,156.84. This represents a 38.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Mark D. Wolf sold 3,500 shares of the company's stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $225.87, for a total transaction of $790,545.00. Following the sale, the general counsel directly owned 29,315 shares of the company's stock, valued at approximately $6,621,379.05. This trade represents a 10.67% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.70% of the company's stock.

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.