Florida Financial Advisors LLC Acquires Shares of 2,909 Sterling Infrastructure, Inc. (NASDAQ:STRL)

Florida Financial Advisors LLC bought a new position in Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 2,909 shares of the construction company's stock, valued at approximately $332,000.

Several other institutional investors have also made changes to their positions in the company. Sunbelt Securities Inc. lifted its position 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 valued at $26,000 after acquiring an additional 200 shares in the last quarter. Versant Capital Management Inc raised its stake in Sterling Infrastructure by 355.8% during the 1st 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 during the period. Opal Wealth Advisors LLC purchased a new stake in shares of Sterling Infrastructure in the first quarter valued at $28,000. Huntington National Bank boosted its position in shares of Sterling Infrastructure by 34.6% in the fourth quarter. Huntington National Bank now owns 288 shares of the construction company's stock worth $49,000 after buying an additional 74 shares during the period. Finally, National Bank of Canada FI purchased a new position in shares of Sterling Infrastructure during the fourth quarter valued at $56,000. 80.95% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on STRL shares. DA Davidson increased their price objective on Sterling Infrastructure from $205.00 to $265.00 and gave the stock a "buy" rating in a research note on Wednesday, June 18th. Wall Street Zen downgraded Sterling Infrastructure from a "buy" rating to a "hold" rating in a report on Saturday, July 5th.

Sterling Infrastructure Trading Down 0.2%

Sterling Infrastructure stock opened at $241.31 on Tuesday. Sterling Infrastructure, Inc. has a 12 month low of $93.50 and a 12 month high of $244.48. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.34. The stock has a market cap of $7.34 billion, a P/E ratio of 28.19, a P/E/G ratio of 2.00 and a beta of 1.40. The company's fifty day simple moving average is $204.46 and its 200-day simple moving average is $163.15.

Insiders Place Their Bets

In related news, Director Dana C. O'brien sold 10,154 shares of the stock in a transaction that occurred on Monday, June 16th. The stock was 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. This represents a 38.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, General Counsel Mark D. Wolf sold 3,500 shares of the firm's stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $225.87, for a total transaction of $790,545.00. Following the transaction, the general counsel directly owned 29,315 shares in the company, 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 currently owned by company insiders.

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.

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