Douglas Lane & Associates LLC Purchases New Stake in Sterling Infrastructure, Inc. $STRL

Key Points

• Douglas Lane & Associates LLC has acquired a new stake in Sterling Infrastructure, Inc., purchasing 1,600 shares valued at approximately $369,000.
• Several institutional investors are increasing their stakes, with 80.95% of Sterling Infrastructure's stock now owned by institutional investors and hedge funds.
• Wall Street analysts have recently upgraded Sterling Infrastructure's rating to "strong-buy," with an average target price increasing to $355.00.

Douglas Lane & Associates LLC purchased a new stake in Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,600 shares of the construction company's stock, valued at approximately $369,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. HBW Advisory Services LLC acquired a new stake in Sterling Infrastructure in the second quarter valued at $300,000. Invst LLC raised its holdings in Sterling Infrastructure by 13.3% in the first quarter. Invst LLC now owns 8,206 shares of the construction company's stock valued at $929,000 after acquiring an additional 964 shares in the last quarter. Rhumbline Advisers raised its holdings in Sterling Infrastructure by 2.7% in the first quarter. Rhumbline Advisers now owns 47,770 shares of the construction company's stock valued at $5,408,000 after acquiring an additional 1,270 shares in the last quarter. Strs Ohio acquired a new stake in Sterling Infrastructure in the first quarter valued at $962,000. Finally, Intech Investment Management LLC raised its holdings in Sterling Infrastructure by 47.4% in the first quarter. Intech Investment Management LLC now owns 25,736 shares of the construction company's stock valued at $2,914,000 after acquiring an additional 8,281 shares in the last quarter. 80.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on STRL. Wall Street Zen raised shares of Sterling Infrastructure from a "buy" rating to a "strong-buy" rating in a report on Saturday. 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 note on Wednesday, August 6th. Finally, Zacks Research upgraded shares of Sterling Infrastructure from a "hold" rating to a "strong-buy" rating in a research note on Friday, September 5th. 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, the company has an average rating of "Buy" and an average target price of $355.00.

Sterling Infrastructure Stock Down 0.8%

Sterling Infrastructure stock opened at $313.55 on Monday. The company has a 50-day simple moving average of $272.84 and a 200-day simple moving average of $201.85. The firm has a market capitalization of $9.54 billion, a P/E ratio of 34.08, a P/E/G ratio of 2.32 and a beta of 1.35. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.42 and a current ratio of 1.42. Sterling Infrastructure, Inc. has a one year low of $96.34 and a one year high of $321.79.

Insider Activity at Sterling Infrastructure

In related 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 value of $790,545.00. Following the completion of the transaction, the general counsel 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 filing with the SEC, which is available at this hyperlink. Corporate insiders own 2.70% of the company's stock.

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.

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