GK Wealth Management LLC Makes New Investment 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 purchased a new stake in Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 869 shares of the construction company's stock, valued at approximately $201,000.

A number of other hedge funds have also modified their holdings of the company. Sunbelt Securities Inc. lifted its stake in 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 holdings in shares of Sterling Infrastructure by 355.8% in the first 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 last quarter. Opal Wealth Advisors LLC bought a new stake in shares of Sterling Infrastructure in the first quarter worth $28,000. Quarry LP boosted its holdings in Sterling Infrastructure by 107.7% during the first quarter. Quarry LP now owns 376 shares of the construction company's stock worth $43,000 after purchasing an additional 195 shares during the last quarter. Finally, SBI Securities Co. Ltd. boosted its holdings in Sterling Infrastructure by 111.3% during the first quarter. SBI Securities Co. Ltd. now owns 488 shares of the construction company's stock worth $55,000 after purchasing an additional 257 shares during the last quarter. 80.95% of the stock is currently owned by institutional investors.

Insider Transactions at Sterling Infrastructure

In other news, General Counsel Mark D. Wolf sold 3,500 shares of the firm's stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $225.87, for a total value of $790,545.00. Following the completion of the sale, the general counsel directly owned 29,315 shares of the company's stock, valued at $6,621,379.05. This trade represents a 10.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 2.70% of the stock is owned by corporate insiders.

Sterling Infrastructure Stock Up 3.0%

Shares of STRL stock opened at $322.90 on Tuesday. Sterling Infrastructure, Inc. has a 52-week low of $96.34 and a 52-week high of $326.82. The stock has a market cap of $9.82 billion, a price-to-earnings ratio of 35.10, a PEG ratio of 2.32 and a beta of 1.35. The firm's 50-day moving average is $274.55 and its 200-day moving average is $203.22. 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 equities research analysts have issued reports on the stock. Wall Street Zen upgraded shares of Sterling Infrastructure from a "buy" rating to a "strong-buy" rating in a research note on Saturday. DA Davidson lifted their target price on Sterling Infrastructure from $265.00 to $355.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Finally, Zacks Research raised Sterling Infrastructure from a "hold" rating to a "strong-buy" rating in a research report on Friday, September 5th. One analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company. Based on data from MarketBeat, Sterling Infrastructure presently has an average rating of "Buy" and a consensus price target 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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