Sterling Infrastructure, Inc. (NASDAQ:STRL) Position Increased 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 position in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 133.0% in the first quarter, according to the company in its most recent 13F filing with the SEC. 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 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Invesco Ltd. boosted its stake in Sterling Infrastructure by 22.5% during the 4th quarter. Invesco Ltd. now owns 757,273 shares of the construction company's stock valued at $127,563,000 after purchasing an additional 139,081 shares in the last quarter. Capital Research Global Investors lifted its position in shares of Sterling Infrastructure by 78.5% during 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 last quarter. Congress Asset Management Co. lifted its position in shares of Sterling Infrastructure by 6.5% during 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 last quarter. GW&K Investment Management LLC lifted its position in shares of Sterling Infrastructure by 37.7% during 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 last quarter. Finally, First Trust Advisors LP lifted its position in shares of Sterling Infrastructure by 74.1% during 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 last quarter. 80.95% of the stock is owned by institutional investors.

Sterling Infrastructure Stock Up 1.0%

Shares of STRL traded up $3.05 during mid-day trading on Friday, reaching $302.69. The company's stock had a trading volume of 317,044 shares, compared to its average volume of 527,252. The business has a fifty day moving average of $236.73 and a 200 day moving average of $175.63. The company has a market cap of $9.21 billion, a price-to-earnings ratio of 32.90, a price-to-earnings-growth ratio of 2.50 and a beta of 1.46. Sterling Infrastructure, Inc. has a 1 year low of $96.34 and a 1 year high of $321.79. The company has a quick ratio of 1.32, a current ratio of 1.42 and a debt-to-equity ratio of 0.31.

Insiders Place Their Bets

In other news, General Counsel Mark D. Wolf sold 3,500 shares of the 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 completion of the sale, the general counsel 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Dana C. O'brien sold 10,154 shares of the stock in a transaction on Monday, June 16th. The shares were 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 owned 16,498 shares of the company's stock, valued at $3,408,156.84. The trade was a 38.10% decrease in their position. The disclosure for this sale can be found here. 3.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on STRL. DA Davidson increased their price objective on Sterling Infrastructure from $265.00 to $355.00 and gave the company a "buy" rating in a research report on Wednesday. Wall Street Zen upgraded Sterling Infrastructure from a "hold" rating to a "buy" rating in a research report on Saturday.

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.