Sterling Infrastructure, Inc. (NASDAQ:STRL) Shares Acquired by Cetera Investment Advisers

Key Points

• Cetera Investment Advisers increased its stake in Sterling Infrastructure by 133%, acquiring 12,395 shares, bringing its total holdings to 21,718 shares worth approximately $2.46 million.
• Multiple institutional investors, including Invesco Ltd and Capital Research Global Investors, have significantly raised their stakes in Sterling Infrastructure, indicating strong institutional interest with 80.95% of the stock now owned by institutions.
• Analysts have mixed views on Sterling Infrastructure, with one firm downgrading its rating from "buy" to "hold", while another boosted its price target from $265 to $355 and maintained a "buy" rating.

Cetera Investment Advisers raised its stake in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 133.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,718 shares of the construction company's stock after purchasing an additional 12,395 shares during the quarter. Cetera Investment Advisers owned about 0.07% of Sterling Infrastructure worth $2,459,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings 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 increased its holdings in shares of Sterling Infrastructure by 355.8% during the 1st quarter. Versant Capital Management Inc now owns 237 shares of the construction company's stock valued at $27,000 after purchasing an additional 185 shares in the last quarter. Opal Wealth Advisors LLC acquired a new position in shares of Sterling Infrastructure in the 1st quarter valued at $28,000. SBI Securities Co. Ltd. boosted its holdings in Sterling Infrastructure by 111.3% during the first quarter. SBI Securities Co. Ltd. now owns 488 shares of the construction company's stock worth $55,000 after buying an additional 257 shares in the last quarter. Finally, National Bank of Canada FI acquired a new stake in Sterling Infrastructure during the fourth quarter valued at $56,000. 80.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on STRL. DA Davidson increased their target price on shares of Sterling Infrastructure from $265.00 to $355.00 and gave the stock a "buy" rating in a research note on Wednesday. Wall Street Zen downgraded shares of Sterling Infrastructure from a "buy" rating to a "hold" rating in a report on Saturday, July 5th.

Insider Activity at Sterling Infrastructure

In other news, General Counsel Mark D. Wolf sold 3,500 shares of the stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $225.87, for a total value of $790,545.00. Following the completion of the sale, the general counsel directly owned 29,315 shares in the company, valued at $6,621,379.05. This represents a 10.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Dana C. O'brien sold 10,154 shares of the business's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $206.58, for a total transaction of $2,097,613.32. Following the transaction, the director owned 16,498 shares in the company, valued at $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. 3.70% of the stock is currently owned by insiders.

Sterling Infrastructure Price Performance

NASDAQ:STRL traded up $0.22 during trading hours on Thursday, hitting $299.64. 523,974 shares of the stock were exchanged, compared to its average volume of 525,866. The firm's fifty day moving average price is $234.44 and its 200 day moving average price is $175.07. Sterling Infrastructure, Inc. has a 52-week low of $96.34 and a 52-week high of $321.79. The company has a market cap of $9.12 billion, a P/E ratio of 32.57, a P/E/G ratio of 2.48 and a beta of 1.46. The company has a current ratio of 1.42, a quick ratio of 1.32 and a debt-to-equity ratio of 0.31.

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.