Graham Capital Management L.P. Acquires 4,390 Shares of Sterling Infrastructure, Inc. $STRL

Key Points

• Graham Capital Management L.P. increased its stake in Sterling Infrastructure, Inc. by 66.7% in the first quarter, owning approximately $1.24 million worth of shares after purchasing an additional 4,390 shares.
• Several institutional investors, including Pacer Advisors and Nuveen LLC, also added significant positions in Sterling Infrastructure this quarter, indicating strong interest in the company's growth.
• Analysts have varying ratings on Sterling Infrastructure, with DA Davidson raising the price target from $265 to $355, while others have downgraded their ratings, reflecting mixed outlooks on the stock.

Graham Capital Management L.P. grew its position in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 66.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,976 shares of the construction company's stock after purchasing an additional 4,390 shares during the period. Graham Capital Management L.P.'s holdings in Sterling Infrastructure were worth $1,243,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. First Sabrepoint Capital Management LP raised its position in Sterling Infrastructure by 3.6% during the 1st quarter. First Sabrepoint Capital Management LP now owns 72,500 shares of the construction company's stock worth $8,208,000 after buying an additional 2,500 shares during the last quarter. Quarry LP increased its stake in shares of Sterling Infrastructure by 107.7% in the 1st quarter. Quarry LP now owns 376 shares of the construction company's stock valued at $43,000 after purchasing an additional 195 shares in the last quarter. Panagora Asset Management Inc. raised its stake in shares of Sterling Infrastructure by 6.7% during the 1st quarter. Panagora Asset Management Inc. now owns 128,603 shares of the construction company's stock worth $14,559,000 after buying an additional 8,037 shares during the period. Vident Advisory LLC purchased a new position in shares of Sterling Infrastructure during the 1st quarter valued at approximately $898,000. Finally, Trexquant Investment LP purchased a new stake in shares of Sterling Infrastructure during the first quarter worth approximately $646,000. 80.95% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Sterling Infrastructure

In other Sterling Infrastructure 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 owned 29,315 shares in the company, valued at approximately $6,621,379.05. This trade represents a 10.67% 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, Director Dana C. O'brien sold 10,154 shares of the firm's stock in a transaction on 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 sale, the director directly owned 16,498 shares of the company's stock, valued at $3,408,156.84. This represents a 38.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.70% of the company's stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. DA Davidson boosted their price objective 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. Wall Street Zen lowered Sterling Infrastructure from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 30th. 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.

Sterling Infrastructure Price Performance

Shares of STRL traded down $2.70 during midday trading on Friday, reaching $285.98. The stock had a trading volume of 498,723 shares, compared to its average volume of 421,708. The firm's 50 day moving average price is $265.87 and its 200-day moving average price is $194.93. The company has a market capitalization of $8.70 billion, a P/E ratio of 31.08, a P/E/G ratio of 2.12 and a beta of 1.35. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.42 and a quick ratio of 1.42. Sterling Infrastructure, Inc. has a 52 week low of $96.34 and a 52 week high of $321.79.

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.