Connor Clark & Lunn Investment Management Ltd. Buys 2,849 Shares of Sterling Infrastructure, Inc. (NASDAQ:STRL)

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its stake in Sterling Infrastructure by 3.2%, owning a total of 91,882 shares worth $10,402,000 as of the latest SEC filing.
• Several large investors, including Sunbelt Securities Inc. and Versant Capital Management Inc., significantly increased their stakes in Sterling Infrastructure during the first quarter, highlighting growing institutional interest in the company.
• Wall Street analysts have raised their target price for Sterling Infrastructure from $265.00 to $355.00 with a "buy" rating, indicating positive growth expectations for the stock.

Connor Clark & Lunn Investment Management Ltd. lifted its stake in Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 3.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 91,882 shares of the construction company's stock after acquiring an additional 2,849 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.30% of Sterling Infrastructure worth $10,402,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in STRL. Sunbelt Securities Inc. grew its stake in shares of Sterling Infrastructure by 689.7% in the first quarter. Sunbelt Securities Inc. now owns 229 shares of the construction company's stock worth $26,000 after acquiring an additional 200 shares during the period. Versant Capital Management Inc grew its stake in shares of Sterling Infrastructure by 355.8% in the first quarter. Versant Capital Management Inc now owns 237 shares of the construction company's stock worth $27,000 after acquiring an additional 185 shares during the period. Opal Wealth Advisors LLC bought a new stake in shares of Sterling Infrastructure in the first quarter worth approximately $28,000. SBI Securities Co. Ltd. grew its position in Sterling Infrastructure by 111.3% during the first quarter. SBI Securities Co. Ltd. now owns 488 shares of the construction company's stock valued at $55,000 after buying an additional 257 shares during the period. Finally, National Bank of Canada FI bought a new stake in Sterling Infrastructure during the fourth quarter valued at approximately $56,000. 80.95% of the stock is currently owned by institutional investors.

Sterling Infrastructure Stock Performance

Shares of NASDAQ STRL opened at $302.69 on Monday. The firm has a 50 day moving average of $236.73 and a 200 day moving average of $175.48. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $9.21 billion, a price-to-earnings ratio of 32.90, a price-to-earnings-growth ratio of 2.30 and a beta of 1.46. Sterling Infrastructure, Inc. has a 12-month low of $96.34 and a 12-month high of $321.79.

Insider Activity at Sterling Infrastructure

In other Sterling Infrastructure news, Director Dana C. O'brien sold 10,154 shares of Sterling Infrastructure 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 transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Mark D. Wolf sold 3,500 shares of Sterling Infrastructure stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $225.87, for a total transaction of $790,545.00. Following the transaction, 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 position. The disclosure for this sale can be found here. 2.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. DA Davidson boosted their target price on shares of Sterling Infrastructure from $265.00 to $355.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Wall Street Zen upgraded shares of Sterling Infrastructure from a "hold" rating to a "buy" rating in a research report on Saturday.

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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