Cynosure Group LLC Acquires 2,282 Shares of Sterling Infrastructure, Inc. (NASDAQ:STRL)

Key Points

• Cynosure Group LLC increased its stake in Sterling Infrastructure by 69.3%, acquiring an additional 2,282 shares during the first quarter, bringing their total holdings to 5,575 shares valued at approximately $631,000.
• Several institutional investors, including Wealth Enhancement Advisory Services and Envestnet Asset Management, also expanded their positions in Sterling Infrastructure, collectively increasing institutional ownership to 80.95% of the company's stock.
• Analysts have recently upgraded Sterling Infrastructure's rating from "hold" to "buy," with D.A. Davidson raising their target price from $265 to $355 per share.

Cynosure Group LLC grew its holdings in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 69.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,575 shares of the construction company's stock after purchasing an additional 2,282 shares during the quarter. Cynosure Group LLC's holdings in Sterling Infrastructure were worth $631,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Wealth Enhancement Advisory Services LLC grew its stake in 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 valued at $544,000 after buying an additional 1,337 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in Sterling Infrastructure by 30.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 78,454 shares of the construction company's stock valued at $8,882,000 after buying an additional 18,254 shares during the last quarter. D.A. Davidson & CO. grew its stake in Sterling Infrastructure by 5.0% in the 1st quarter. D.A. Davidson & CO. now owns 2,424 shares of the construction company's stock valued at $274,000 after buying an additional 116 shares during the last quarter. Hudson Edge Investment Partners Inc. acquired a new position in Sterling Infrastructure in the 1st quarter valued at $823,000. Finally, Sowell Financial Services LLC acquired a new position in Sterling Infrastructure in the 1st quarter valued at $215,000. Institutional investors own 80.95% of the company's stock.

Sterling Infrastructure Stock Performance

NASDAQ STRL opened at $302.69 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.42 and a quick ratio of 1.32. The firm has a market capitalization of $9.21 billion, a price-to-earnings ratio of 32.90, a P/E/G ratio of 2.50 and a beta of 1.46. The company's fifty day moving average is $236.73 and its two-hundred day moving average is $175.63. Sterling Infrastructure, Inc. has a 52-week low of $96.34 and a 52-week high of $321.79.

Insider Buying and Selling at Sterling Infrastructure

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

Analyst Ratings Changes

A number of research firms recently issued reports on STRL. Wall Street Zen upgraded shares of Sterling Infrastructure from a "hold" rating to a "buy" rating in a research note on Saturday. DA Davidson raised their target price on shares of Sterling Infrastructure from $265.00 to $355.00 and gave the company a "buy" rating in a research note on Wednesday.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.