Envestnet Asset Management Inc. Buys 18,254 Shares of Sterling Infrastructure, Inc. (NASDAQ:STRL)

Envestnet Asset Management Inc. lifted its holdings in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 30.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 78,454 shares of the construction company's stock after purchasing an additional 18,254 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.26% of Sterling Infrastructure worth $8,882,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC increased its stake in shares of Sterling Infrastructure by 38.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 4,804 shares of the construction company's stock worth $544,000 after purchasing an additional 1,337 shares during the last quarter. D.A. Davidson & CO. increased its stake in shares of Sterling Infrastructure by 5.0% during the 1st quarter. D.A. Davidson & CO. now owns 2,424 shares of the construction company's stock worth $274,000 after purchasing an additional 116 shares during the last quarter. Hudson Edge Investment Partners Inc. acquired a new position in shares of Sterling Infrastructure during the 1st quarter worth $823,000. Sowell Financial Services LLC acquired a new position in shares of Sterling Infrastructure during the 1st quarter worth $215,000. Finally, Oppenheimer Asset Management Inc. acquired a new position in shares of Sterling Infrastructure during the 1st quarter worth $370,000. Institutional investors and hedge funds own 80.95% of the company's stock.

Sterling Infrastructure Stock Performance

Shares of NASDAQ STRL traded up $10.22 during trading hours on Friday, hitting $262.90. 112,508 shares of the stock were exchanged, compared to its average volume of 668,549. 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 company's 50 day moving average is $216.50 and its 200 day moving average is $167.91. The firm has a market capitalization of $7.99 billion, a P/E ratio of 30.67, a P/E/G ratio of 2.09 and a beta of 1.40. Sterling Infrastructure, Inc. has a one year low of $93.50 and a one year high of $267.95.

Insider Buying and Selling at Sterling Infrastructure

In other Sterling Infrastructure news, General Counsel Mark D. Wolf sold 3,500 shares of the 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 completion of the sale, the general counsel directly owned 29,315 shares of the company's stock, valued at $6,621,379.05. This represents a 10.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Dana C. O'brien sold 10,154 shares of the 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 sale, the director directly owned 16,498 shares of the company's stock, 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. 3.70% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Wall Street Zen lowered shares of Sterling Infrastructure from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. DA Davidson upped their price objective on shares of Sterling Infrastructure from $205.00 to $265.00 and gave the stock a "buy" rating in a report on Wednesday, June 18th.

About Sterling Infrastructure

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.