Congress Asset Management Co. Has $126.37 Million Stake in Sterling Infrastructure, Inc. $STRL

Key Points

• Congress Asset Management Co. increased its stake in Sterling Infrastructure by 2.9%, owning approximately 1.80% of the company's shares, which is valued at $126.37 million.
• Sterling Infrastructure stock is currently down 1.6% and has a market capitalization of $10.30 billion with a P/E ratio of 36.79.
• Analysts have recently upgraded Sterling Infrastructure's rating, with Zacks Research giving it a strong-buy rating and a consensus target price of $355.00.

Congress Asset Management Co. boosted its stake in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 2.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 547,688 shares of the construction company's stock after buying an additional 15,490 shares during the quarter. Congress Asset Management Co. owned approximately 1.80% of Sterling Infrastructure worth $126,368,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ieq Capital LLC lifted its holdings in Sterling Infrastructure by 94.8% during the 1st quarter. Ieq Capital LLC now owns 8,144 shares of the construction company's stock worth $922,000 after buying an additional 3,963 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in shares of Sterling Infrastructure by 38.6% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 4,804 shares of the construction company's stock worth $544,000 after purchasing an additional 1,337 shares during the period. Envestnet Asset Management Inc. lifted its position in shares of Sterling Infrastructure by 30.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 78,454 shares of the construction company's stock worth $8,882,000 after purchasing an additional 18,254 shares during the period. D.A. Davidson & CO. lifted its position in shares of Sterling Infrastructure by 5.0% in the 1st quarter. D.A. Davidson & CO. now owns 2,424 shares of the construction company's stock worth $274,000 after purchasing an additional 116 shares during the period. Finally, Hudson Edge Investment Partners Inc. acquired a new position in shares of Sterling Infrastructure in the 1st quarter worth approximately $823,000. 80.95% of the stock is owned by institutional investors and hedge funds.

Sterling Infrastructure Stock Down 1.6%

STRL stock opened at $338.44 on Friday. The stock's 50 day simple moving average is $291.73 and its 200 day simple moving average is $214.54. Sterling Infrastructure, Inc. has a fifty-two week low of $96.34 and a fifty-two week high of $376.75. 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 company has a market cap of $10.30 billion, a P/E ratio of 36.79, a price-to-earnings-growth ratio of 2.55 and a beta of 1.35.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on STRL. Zacks Research upgraded shares of Sterling Infrastructure from a "hold" rating to a "strong-buy" rating in a research report on Friday, September 5th. DA Davidson boosted their price objective on Sterling Infrastructure from $265.00 to $355.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Finally, Wall Street Zen raised Sterling Infrastructure from a "buy" rating to a "strong-buy" rating in a research note on Saturday, September 13th. One analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $355.00.

About Sterling Infrastructure

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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