CMG Global Holdings LLC Sells 1,150 Shares of Sterling Infrastructure, Inc. $STRL

Key Points

• CMG Global Holdings LLC sold 1,150 shares of Sterling Infrastructure, Inc., reducing its position by 20% to a total of 4,600 shares valued at over $1 million.
• Several hedge funds increased their stakes in Sterling Infrastructure, with 80.95% of the stock currently owned by institutional investors.
• Wall Street analysts maintain a positive outlook on Sterling Infrastructure, with a consensus rating of "Buy" and a target price of $355.00.

CMG Global Holdings LLC trimmed its position in Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 20.0% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 4,600 shares of the construction company's stock after selling 1,150 shares during the period. CMG Global Holdings LLC's holdings in Sterling Infrastructure were worth $1,061,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Ameritas Advisory Services LLC bought a new position in Sterling Infrastructure in the 2nd quarter valued at $29,000. Armstrong Advisory Group Inc. boosted its position in Sterling Infrastructure by 93.2% in the 2nd quarter. Armstrong Advisory Group Inc. now owns 170 shares of the construction company's stock valued at $39,000 after buying an additional 82 shares during the last quarter. MCF Advisors LLC boosted its position in Sterling Infrastructure by 97.7% in the 2nd quarter. MCF Advisors LLC now owns 172 shares of the construction company's stock valued at $40,000 after buying an additional 85 shares during the last quarter. Richardson Financial Services Inc. boosted its position in Sterling Infrastructure by 32.9% in the 2nd quarter. Richardson Financial Services Inc. now owns 190 shares of the construction company's stock valued at $42,000 after buying an additional 47 shares during the last quarter. Finally, Sunbelt Securities Inc. boosted its position in Sterling Infrastructure by 689.7% in the 1st quarter. Sunbelt Securities Inc. now owns 229 shares of the construction company's stock valued at $26,000 after buying an additional 200 shares during the last quarter. 80.95% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on STRL. Wall Street Zen lowered Sterling Infrastructure from a "strong-buy" rating to a "buy" rating in a research report on Friday, September 26th. 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, August 6th. Weiss Ratings reiterated a "buy (b)" rating on shares of Sterling Infrastructure in a research report on Wednesday, October 8th. Finally, Zacks Research upgraded Sterling Infrastructure from a "hold" rating to a "strong-buy" rating in a research report on Friday, September 5th. One research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $355.00.

Sterling Infrastructure Stock Down 1.5%

NASDAQ:STRL opened at $355.58 on Monday. Sterling Infrastructure, Inc. has a 12-month low of $96.34 and a 12-month high of $376.75. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $10.82 billion, a P/E ratio of 38.65, a P/E/G ratio of 2.63 and a beta of 1.38. The stock's fifty day simple moving average is $318.02 and its 200-day simple moving average is $241.67.

Sterling Infrastructure (NASDAQ:STRL - Get Free Report) last issued its quarterly earnings data on Monday, June 3rd. The construction company reported $0.64 EPS for the quarter. The business had revenue of $403.58 million for the quarter. Sterling Infrastructure had a return on equity of 27.93% and a net margin of 13.33%. Equities research analysts expect that Sterling Infrastructure, Inc. will post 5.98 earnings per share for the current year.

Sterling Infrastructure 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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