Fuller & Thaler Asset Management Inc. Purchases 105,222 Shares of Sterling Infrastructure, Inc. $STRL

Key Points

• Fuller & Thaler Asset Management Inc. increased its position in Sterling Infrastructure, Inc. by 7.5%, owning approximately 4.93% of the company's shares, valued at $169.70 million.
• Several institutional investors, including Bank of Montreal Can and Barclays PLC, have made new acquisitions or increased their holdings in Sterling Infrastructure recently.
• Analysts have raised their price target for Sterling Infrastructure, with DA Davidson increasing it from $265.00 to $355.00, signaling a positive outlook on the stock.

Fuller & Thaler Asset Management Inc. grew its stake in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 7.5% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,498,999 shares of the construction company's stock after buying an additional 105,222 shares during the quarter. Fuller & Thaler Asset Management Inc. owned approximately 4.93% of Sterling Infrastructure worth $169,702,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of STRL. Pacer Advisors Inc. bought a new stake in shares of Sterling Infrastructure during the first quarter worth $28,689,000. Capital Research Global Investors grew its stake in shares of Sterling Infrastructure by 78.5% during the fourth quarter. Capital Research Global Investors now owns 574,976 shares of the construction company's stock worth $96,855,000 after buying an additional 252,934 shares during the last quarter. Nuveen LLC bought a new stake in shares of Sterling Infrastructure during the first quarter worth $19,741,000. Vanguard Group Inc. grew its stake in shares of Sterling Infrastructure by 6.3% in the first 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 last quarter. Finally, First Trust Advisors LP grew its stake in shares of Sterling Infrastructure by 74.1% in the fourth quarter. First Trust Advisors LP now owns 356,339 shares of the construction company's stock worth $60,025,000 after purchasing an additional 151,642 shares during the last quarter. Institutional investors own 80.95% of the company's stock.

Sterling Infrastructure Stock Up 0.6%

Shares of NASDAQ STRL traded up $1.55 during trading on Friday, hitting $279.58. 493,572 shares of the company traded hands, compared to its average volume of 576,158. The business's fifty day moving average is $253.70 and its 200 day moving average is $184.54. Sterling Infrastructure, Inc. has a fifty-two week low of $96.34 and a fifty-two week high of $321.79. The firm has a market capitalization of $8.50 billion, a price-to-earnings ratio of 30.39, a P/E/G ratio of 2.11 and a beta of 1.46. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.42 and a current ratio of 1.42.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on STRL shares. Wall Street Zen raised shares of Sterling Infrastructure from a "buy" rating to a "strong-buy" rating in a research note on Friday. DA Davidson boosted their price objective on shares of Sterling Infrastructure from $265.00 to $355.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $355.00.

Insider Activity

In other news, Director Dana C. O'brien sold 10,154 shares of the company's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $206.58, for a total transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Mark D. Wolf sold 3,500 shares of the company'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 transaction, the general counsel owned 29,315 shares in the company, valued at $6,621,379.05. This represents 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 corporate 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.