Crown Advisors Management Inc. Makes New Investment in Sterling Infrastructure, Inc. (NASDAQ:STRL)

Key Points

• Crown Advisors Management Inc. has acquired a new stake of 10,000 shares in Sterling Infrastructure, valued at approximately $1,132,000.
• Several institutional investors have significantly increased their positions in Sterling Infrastructure, with Sunbelt Securities Inc. boosting its stake by 689.7% during the first quarter.
• Analysts have recently upgraded Sterling Infrastructure from a "hold" to a "buy" rating, with DA Davidson raising its price target from $265 to $355.

Crown Advisors Management Inc. bought a new stake in Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 10,000 shares of the construction company's stock, valued at approximately $1,132,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Sunbelt Securities Inc. increased its stake in Sterling Infrastructure by 689.7% in the first quarter. Sunbelt Securities Inc. now owns 229 shares of the construction company's stock valued at $26,000 after purchasing an additional 200 shares during the last quarter. Versant Capital Management Inc increased its stake in Sterling Infrastructure by 355.8% in the first 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 during the last quarter. Opal Wealth Advisors LLC purchased a new position in shares of Sterling Infrastructure during the first quarter worth approximately $28,000. SBI Securities Co. Ltd. raised its position in Sterling Infrastructure by 111.3% in the 1st quarter. SBI Securities Co. Ltd. now owns 488 shares of the construction company's stock valued at $55,000 after purchasing an additional 257 shares during the last quarter. Finally, IFP Advisors Inc raised its position in Sterling Infrastructure by 40.5% in the 1st quarter. IFP Advisors Inc now owns 923 shares of the construction company's stock valued at $104,000 after purchasing an additional 266 shares during the last quarter. Institutional investors and hedge funds own 80.95% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on STRL. DA Davidson upped their price target 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, August 9th.

Insiders Place Their Bets

In related news, General Counsel Mark D. Wolf sold 3,500 shares of Sterling Infrastructure stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $225.87, for a total value 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 trade represents a 10.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Dana C. O'brien sold 10,154 shares of Sterling Infrastructure stock in a transaction 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 completion of the transaction, the director owned 16,498 shares in the company, valued at approximately $3,408,156.84. This trade represents a 38.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.70% of the company's stock.

Sterling Infrastructure Stock Performance

NASDAQ:STRL traded down $10.33 during midday trading on Thursday, reaching $282.14. The stock had a trading volume of 458,020 shares, compared to its average volume of 564,324. The firm has a fifty day simple moving average of $244.73 and a two-hundred day simple moving average of $178.87. Sterling Infrastructure, Inc. has a 12-month low of $96.34 and a 12-month high of $321.79. 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 stock has a market cap of $8.58 billion, a P/E ratio of 30.67, a P/E/G ratio of 2.22 and a beta of 1.46.

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.