2,076 Shares in Sterling Infrastructure, Inc. (NASDAQ:STRL) Acquired by Foundations Investment Advisors LLC

Key Points

• Foundations Investment Advisors LLC made a new investment of approximately $235,000 in Sterling Infrastructure, acquiring 2,076 shares in the first quarter.
• Institutional investors now hold about 80.95% of Sterling Infrastructure's stock, with MRP Capital Investments raising its stake by 130.2%.
• Sterling Infrastructure's stock was recently rated as a "hold" by Wall Street Zen, while DA Davidson increased the target price from $205.00 to $265.00 giving it a "buy" rating.

Foundations Investment Advisors LLC bought a new position in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 2,076 shares of the construction company's stock, valued at approximately $235,000.

A number of other institutional investors also recently modified their holdings of STRL. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Sterling Infrastructure by 38.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 4,804 shares of the construction company's stock valued at $544,000 after buying an additional 1,337 shares during the period. Envestnet Asset Management Inc. lifted its stake in shares of Sterling Infrastructure by 30.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 78,454 shares of the construction company's stock valued at $8,882,000 after acquiring an additional 18,254 shares during the last quarter. D.A. Davidson & CO. increased its holdings in Sterling Infrastructure by 5.0% in the first quarter. D.A. Davidson & CO. now owns 2,424 shares of the construction company's stock valued at $274,000 after purchasing an additional 116 shares during the period. Hudson Edge Investment Partners Inc. acquired a new stake in Sterling Infrastructure in the first quarter valued at $823,000. Finally, Sowell Financial Services LLC acquired a new stake in Sterling Infrastructure during the 1st quarter worth about $215,000. 80.95% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on STRL shares. DA Davidson increased their price target on Sterling Infrastructure from $205.00 to $265.00 and gave the stock a "buy" rating in a report on Wednesday, June 18th. Wall Street Zen downgraded Sterling Infrastructure from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th.

Sterling Infrastructure Stock Up 3.3%

Shares of STRL traded up $8.69 during trading hours on Monday, hitting $271.74. The stock had a trading volume of 898,660 shares, compared to its average volume of 669,370. Sterling Infrastructure, Inc. has a 1-year low of $93.50 and a 1-year high of $272.81. The firm has a market capitalization of $8.26 billion, a P/E ratio of 31.75, a price-to-earnings-growth ratio of 2.18 and a beta of 1.46. 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 firm has a 50 day simple moving average of $226.09 and a 200-day simple moving average of $171.90.

Sterling Infrastructure (NASDAQ:STRL - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The construction company reported $2.55 earnings per share for the quarter, beating the consensus estimate of $2.26 by $0.29. Sterling Infrastructure had a net margin of 12.62% and a return on equity of 26.58%. Sell-side analysts predict that Sterling Infrastructure, Inc. will post 5.98 EPS for the current fiscal year.

Insider Activity

In related news, Director Dana C. O'brien sold 10,154 shares of the firm'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 of the company's stock, valued at approximately $3,408,156.84. This trade represents a 38.10% decrease in their position. The sale 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 Sterling Infrastructure stock in a transaction that occurred on 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 directly owned 29,315 shares in the company, valued at approximately $6,621,379.05. This represents a 10.67% decrease in their position. The disclosure for this sale can be found here. 2.70% of the stock is currently owned by company insiders.

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.