Dynamic Technology Lab Private Ltd Invests $653,000 in Sterling Infrastructure, Inc. $STRL

Key Points

• Dynamic Technology Lab Private Ltd has invested approximately $653,000 in Sterling Infrastructure, acquiring 5,770 shares in the first quarter.
• Vanguard Group Inc. increased its stake in Sterling Infrastructure by 6.3%, now owning shares worth $303.7 million, while other investors like Millennium Management LLC grew their holdings by an astounding 743.9%.
• Analysts have issued positive ratings for Sterling Infrastructure, with a consensus target price raised to $355.00 and a majority rating of Buy on the stock.

Dynamic Technology Lab Private Ltd acquired a new stake in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 5,770 shares of the construction company's stock, valued at approximately $653,000.

Other institutional investors have also recently made changes to their positions in the company. Sunbelt Securities Inc. grew its position in shares of Sterling Infrastructure by 689.7% during 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 in the last quarter. Versant Capital Management Inc grew its position in shares of Sterling Infrastructure by 355.8% during 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 in the last quarter. Opal Wealth Advisors LLC purchased a new position in shares of Sterling Infrastructure during the first quarter valued at about $28,000. Quarry LP grew its position in shares of Sterling Infrastructure by 107.7% during the first quarter. Quarry LP now owns 376 shares of the construction company's stock valued at $43,000 after purchasing an additional 195 shares in the last quarter. Finally, SBI Securities Co. Ltd. grew its position in shares of 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 purchasing an additional 257 shares in the last quarter. Hedge funds and other institutional investors own 80.95% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented 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 increased their price target on shares of Sterling Infrastructure from $265.00 to $355.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Finally, Zacks Research raised shares of Sterling Infrastructure from a "hold" rating to a "strong-buy" rating in a report on Friday, September 5th. One equities research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Buy" and an average price target of $355.00.

Insider Activity

In other Sterling Infrastructure news, Director Dana C. O'brien sold 10,154 shares of the firm's stock in a transaction dated 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 completion of the sale, the director owned 16,498 shares of the company's stock, valued at $3,408,156.84. This trade represents 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 at this hyperlink. Also, General Counsel Mark D. Wolf sold 3,500 shares of the firm's stock in a transaction dated 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 directly owned 29,315 shares of the company's stock, valued at approximately $6,621,379.05. The trade was a 10.67% decrease in their position. The disclosure for this sale can be found here. 3.70% of the stock is owned by company insiders.

Sterling Infrastructure Trading Down 0.8%

NASDAQ STRL traded down $2.61 during trading on Friday, hitting $313.55. The stock had a trading volume of 388,963 shares, compared to its average volume of 391,730. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.42 and a current ratio of 1.42. The stock has a market capitalization of $9.54 billion, a price-to-earnings ratio of 34.08, a P/E/G ratio of 2.34 and a beta of 1.35. Sterling Infrastructure, Inc. has a one year low of $96.34 and a one year high of $321.79. The stock has a 50 day simple moving average of $272.84 and a 200 day simple moving average of $201.30.

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.