First Sabrepoint Capital Management LP Buys 2,500 Shares of Sterling Infrastructure, Inc. $STRL

Key Points

• First Sabrepoint Capital Management LP increased its stake in Sterling Infrastructure by 3.6%, now owning 72,500 shares valued at approximately $8.2 million, making it the fund's 11th largest position.
• A number of institutional investors, including Vanguard Group and GW&K Investment Management, also raised their stakes in Sterling Infrastructure during the first quarter, highlighting strong interest in the company.
• Analysts project further growth for Sterling Infrastructure, with a target price increase from $265 to $355 and a consensus rating of "Buy" for the stock.

First Sabrepoint Capital Management LP lifted its stake in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 3.6% in the first quarter, according to its most recent filing with the SEC. The fund owned 72,500 shares of the construction company's stock after acquiring an additional 2,500 shares during the period. Sterling Infrastructure makes up 3.0% of First Sabrepoint Capital Management LP's investment portfolio, making the stock its 11th biggest position. First Sabrepoint Capital Management LP owned about 0.24% of Sterling Infrastructure worth $8,208,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Sterling Infrastructure by 6.3% in the 1st quarter. Vanguard Group Inc. now owns 2,682,995 shares of the construction company's stock worth $303,742,000 after purchasing an additional 159,191 shares during the period. Fuller & Thaler Asset Management Inc. raised its position in Sterling Infrastructure by 7.5% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 1,498,999 shares of the construction company's stock worth $169,702,000 after purchasing an additional 105,222 shares during the period. Congress Asset Management Co. raised its position in Sterling Infrastructure by 6.5% in the 1st quarter. Congress Asset Management Co. now owns 532,198 shares of the construction company's stock worth $60,250,000 after purchasing an additional 32,255 shares during the period. GW&K Investment Management LLC raised its position in Sterling Infrastructure by 37.7% in the 1st quarter. GW&K Investment Management LLC now owns 500,028 shares of the construction company's stock worth $56,608,000 after purchasing an additional 136,777 shares during the period. Finally, Northern Trust Corp raised its position in Sterling Infrastructure by 4.9% in the 4th quarter. Northern Trust Corp now owns 341,049 shares of the construction company's stock worth $57,450,000 after purchasing an additional 15,961 shares during the period. Hedge funds and other institutional investors own 80.95% of the company's stock.

Insider Transactions at Sterling Infrastructure

In other Sterling Infrastructure news, Director Dana C. O'brien sold 10,154 shares of the business'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 transaction, the director owned 16,498 shares in the company, valued at approximately $3,408,156.84. The trade was a 38.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 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 disclosure for this sale can be found here. 3.70% of the stock is currently owned by insiders.

Sterling Infrastructure Price Performance

STRL stock opened at $278.53 on Friday. The firm's 50-day moving average price is $260.52 and its two-hundred day moving average price is $189.71. Sterling Infrastructure, Inc. has a 12-month low of $96.34 and a 12-month high of $321.79. The stock has a market capitalization of $8.47 billion, a price-to-earnings ratio of 30.28, a PEG ratio of 2.12 and a beta of 1.46. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.31.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on STRL shares. DA Davidson lifted their target price on shares of Sterling Infrastructure from $265.00 to $355.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Wall Street Zen cut shares of Sterling Infrastructure from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Two analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price 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.

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