Diversify Wealth Management LLC Increases Stake in Sterling Infrastructure, Inc. (NASDAQ:STRL)

Diversify Wealth Management LLC boosted its holdings in Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 23.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,560 shares of the construction company's stock after acquiring an additional 1,240 shares during the period. Diversify Wealth Management LLC's holdings in Sterling Infrastructure were worth $743,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in STRL. Vanguard Group Inc. grew its stake in Sterling Infrastructure by 30.0% in the 4th quarter. Vanguard Group Inc. now owns 2,523,804 shares of the construction company's stock valued at $425,135,000 after acquiring an additional 581,847 shares during the last quarter. Capital Research Global Investors lifted its holdings in Sterling Infrastructure by 78.5% in the 4th quarter. Capital Research Global Investors now owns 574,976 shares of the construction company's stock valued at $96,855,000 after purchasing an additional 252,934 shares in the last quarter. First Trust Advisors LP lifted its holdings in Sterling Infrastructure by 74.1% in the 4th quarter. First Trust Advisors LP now owns 356,339 shares of the construction company's stock valued at $60,025,000 after purchasing an additional 151,642 shares in the last quarter. Invesco Ltd. lifted its holdings in Sterling Infrastructure by 22.5% in the 4th quarter. Invesco Ltd. now owns 757,273 shares of the construction company's stock valued at $127,563,000 after purchasing an additional 139,081 shares in the last quarter. Finally, Axiom Investors LLC DE purchased a new position in Sterling Infrastructure in the 4th quarter valued at about $20,373,000. 80.95% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

STRL has been the topic of a number of recent research reports. Wall Street Zen lowered shares of Sterling Infrastructure from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. DA Davidson upped their target price on shares of Sterling Infrastructure from $205.00 to $265.00 and gave the company a "buy" rating in a report on Wednesday, June 18th.

Insider Activity

In other news, General Counsel Mark D. Wolf sold 3,500 shares of the stock in a transaction dated 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Dana C. O'brien sold 10,154 shares of the stock in a transaction dated Monday, June 16th. The stock was 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 in the company, valued at approximately $3,408,156.84. The trade was a 38.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 3.70% of the company's stock.

Sterling Infrastructure Trading Up 2.3%

NASDAQ:STRL traded up $5.47 on Friday, reaching $241.76. The stock had a trading volume of 335,486 shares, compared to its average volume of 527,341. The company has a market cap of $7.35 billion, a price-to-earnings ratio of 28.24, a P/E/G ratio of 2.00 and a beta of 1.40. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.32 and a quick ratio of 1.32. The firm's fifty day moving average is $204.46 and its two-hundred day moving average is $163.24. Sterling Infrastructure, Inc. has a 12-month low of $93.50 and a 12-month high of $242.23.

Sterling Infrastructure Company 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.