GK Wealth Management LLC Purchases New Shares in Sterling Infrastructure, Inc. $STRL

Key Points

• GK Wealth Management LLC has made a new investment in Sterling Infrastructure, purchasing 869 shares valued at approximately $201,000.
• Several hedge funds have increased their stakes in Sterling Infrastructure significantly, with Sunbelt Securities boosting its holdings by 689.7%.
• Wall Street analysts have upgraded Sterling Infrastructure's rating to "strong-buy" and raised the target price to $355.00, reflecting positive growth forecasts.

GK Wealth Management LLC bought a new position in Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The fund bought 869 shares of the construction company's stock, valued at approximately $201,000.

A number of other large investors have also added to or reduced their stakes in STRL. Sunbelt Securities Inc. grew its position in 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 during the period. Versant Capital Management Inc boosted its stake in shares of Sterling Infrastructure by 355.8% during the 1st quarter. Versant Capital Management Inc now owns 237 shares of the construction company's stock worth $27,000 after acquiring an additional 185 shares during the last quarter. Opal Wealth Advisors LLC purchased a new position in shares of Sterling Infrastructure during the 1st quarter worth $28,000. Quarry LP boosted its stake in shares of Sterling Infrastructure by 107.7% during the 1st quarter. Quarry LP now owns 376 shares of the construction company's stock worth $43,000 after acquiring an additional 195 shares during the last quarter. Finally, SBI Securities Co. Ltd. boosted its stake in shares of Sterling Infrastructure by 111.3% during the 1st quarter. SBI Securities Co. Ltd. now owns 488 shares of the construction company's stock worth $55,000 after acquiring an additional 257 shares during the last quarter. Institutional investors own 80.95% of the company's stock.

Insider Buying and Selling

In other Sterling Infrastructure news, 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 value of $790,545.00. Following the transaction, the general counsel directly owned 29,315 shares in the company, valued at $6,621,379.05. This represents a 10.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on STRL shares. Zacks Research upgraded shares of Sterling Infrastructure from a "hold" rating to a "strong-buy" rating in a research note on Friday, September 5th. Wall Street Zen upgraded shares of Sterling Infrastructure from a "buy" rating to a "strong-buy" rating in a research note on Saturday, September 13th. Finally, DA Davidson lifted their price target on shares of Sterling Infrastructure from $265.00 to $355.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. One investment analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company's stock. According to MarketBeat.com, Sterling Infrastructure currently has an average rating of "Buy" and a consensus target price of $355.00.

Sterling Infrastructure Trading Up 3.3%

STRL stock traded up $11.67 during mid-day trading on Friday, reaching $360.25. The company had a trading volume of 2,093,500 shares, compared to its average volume of 399,630. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.42 and a quick ratio of 1.42. The company has a market capitalization of $10.96 billion, a PE ratio of 39.16, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. The firm has a 50 day moving average of $282.77 and a 200 day moving average of $208.04. Sterling Infrastructure, Inc. has a 12 month low of $96.34 and a 12 month high of $363.08.

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.