Financiere des Professionnels Fonds d investissement inc. Invests $236,000 in Sterling Infrastructure, Inc. $STRL

Key Points

• Financiere des Professionnels Fonds d'investissement inc. acquired 1,023 shares of Sterling Infrastructure, Inc. valued at approximately $236,000 during the 2nd quarter.
• Millennium Management LLC dramatically increased its holdings in Sterling Infrastructure by 743.9%, now owning nearly 493,393 shares valued at about $55.9 million.
• Sterling Infrastructure has received recent analyst upgrades, with a target price increase to $355.00 and a consensus 'Buy' rating from investment analysts.

Financiere des Professionnels Fonds d investissement inc. bought a new position in Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,023 shares of the construction company's stock, valued at approximately $236,000.

Several other hedge funds also recently made changes to their positions in the company. Sunbelt Securities Inc. lifted its stake in shares of Sterling Infrastructure by 689.7% in 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 during the period. Versant Capital Management Inc boosted its holdings in Sterling Infrastructure by 355.8% during the first quarter. Versant Capital Management Inc now owns 237 shares of the construction company's stock worth $27,000 after buying an additional 185 shares in the last quarter. Opal Wealth Advisors LLC purchased a new stake in Sterling Infrastructure during the first quarter worth about $28,000. Quarry LP boosted its holdings in Sterling Infrastructure by 107.7% during the first quarter. Quarry LP now owns 376 shares of the construction company's stock worth $43,000 after buying an additional 195 shares in the last quarter. Finally, SBI Securities Co. Ltd. boosted its holdings in Sterling Infrastructure by 111.3% during the first quarter. SBI Securities Co. Ltd. now owns 488 shares of the construction company's stock worth $55,000 after buying an additional 257 shares in the last quarter. Institutional investors and hedge funds own 80.95% of the company's stock.

Insider Buying and Selling at Sterling Infrastructure

In related news, General Counsel Mark D. Wolf sold 3,500 shares of the business's 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 completion of the sale, the general counsel 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.70% of the stock is currently owned by corporate insiders.

Sterling Infrastructure Stock Up 3.3%

Shares of NASDAQ STRL traded up $11.67 during trading on Friday, reaching $360.25. 2,093,500 shares of the stock were exchanged, compared to its average volume of 399,630. The business's 50-day moving average price is $282.77 and its 200 day moving average price is $208.04. Sterling Infrastructure, Inc. has a twelve month low of $96.34 and a twelve month high of $363.08. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $10.96 billion, a price-to-earnings ratio of 39.16, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Wall Street Zen upgraded shares of Sterling Infrastructure from a "buy" rating to a "strong-buy" rating in a report on Saturday, September 13th. Zacks Research upgraded shares of Sterling Infrastructure from a "hold" rating to a "strong-buy" rating in a report on Friday, September 5th. Finally, DA Davidson lifted their price target on shares of Sterling Infrastructure from $265.00 to $355.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. One investment analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company. Based on data from MarketBeat.com, Sterling Infrastructure has a consensus rating of "Buy" and an average price target of $355.00.

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.