1,023 Shares in Sterling Infrastructure, Inc. $STRL Bought by Financiere des Professionnels Fonds d investissement inc.

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 stake in Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,023 shares of the construction company's stock, valued at approximately $236,000.

Several other hedge funds have also recently added to or reduced their stakes in STRL. Sunbelt Securities Inc. boosted its holdings in shares of Sterling Infrastructure by 689.7% in the 1st quarter. Sunbelt Securities Inc. now owns 229 shares of the construction company's stock worth $26,000 after purchasing an additional 200 shares in the last quarter. Versant Capital Management Inc boosted its stake in Sterling Infrastructure by 355.8% in 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 bought a new position in Sterling Infrastructure during the first quarter valued at approximately $28,000. Quarry LP raised its stake in shares of 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 acquiring an additional 195 shares in the last quarter. Finally, SBI Securities Co. Ltd. raised its stake 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 worth $55,000 after acquiring an additional 257 shares in the last quarter. Institutional investors own 80.95% of the company's stock.

Insider Activity

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 stock was sold at an average price of $225.87, for a total transaction of $790,545.00. Following the transaction, the general counsel owned 29,315 shares in the company, valued at $6,621,379.05. The trade was 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. 2.70% of the stock is owned by insiders.

Sterling Infrastructure Trading Up 2.0%

Sterling Infrastructure stock traded up $7.14 during trading hours on Monday, reaching $367.39. The stock had a trading volume of 491,353 shares, compared to its average volume of 479,599. The company has a fifty day simple moving average of $285.29 and a 200-day simple moving average of $210.94. Sterling Infrastructure, Inc. has a 52 week low of $96.34 and a 52 week high of $368.27. The stock has a market cap of $11.18 billion, a PE ratio of 39.93, a PEG ratio of 2.67 and a beta of 1.35. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.42 and a quick ratio of 1.42.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on STRL. DA Davidson upped their price objective 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. Zacks Research upgraded shares of Sterling Infrastructure from a "hold" rating to a "strong-buy" rating in a research report on Friday, September 5th. Finally, Wall Street Zen upgraded Sterling Infrastructure from a "buy" rating to a "strong-buy" rating in a report on Saturday, September 13th. One research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company's stock. According to data from MarketBeat, Sterling Infrastructure currently has an average rating of "Buy" and an average price target of $355.00.

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.