Hartline Investment Corp Makes New Investment in Sterling Infrastructure, Inc. $STRL

Key Points

• Hartline Investment Corp has acquired 1,100 shares of Sterling Infrastructure, valued at approximately $254,000, indicating institutional interest in the company.
• Several other large investors have also increased their stakes in Sterling Infrastructure, with institutional investors now owning 80.95% of the company's stock.
• Analysts have shown optimism with recent upgrades, including Zacks Research raising the stock rating to "strong-buy" and increasing price targets up to $355.00.

Hartline Investment Corp acquired a new position in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 1,100 shares of the construction company's stock, valued at approximately $254,000.

A number of other large investors also recently bought and sold shares of the company. Stratos Wealth Partners LTD. raised its position in Sterling Infrastructure by 0.4% during the 2nd quarter. Stratos Wealth Partners LTD. now owns 47,124 shares of the construction company's stock worth $10,873,000 after buying an additional 183 shares during the last quarter. Private Trust Co. NA raised its position in Sterling Infrastructure by 9.4% during the 2nd quarter. Private Trust Co. NA now owns 591 shares of the construction company's stock worth $136,000 after buying an additional 51 shares during the last quarter. Praxis Investment Management Inc. purchased a new position in Sterling Infrastructure during the 2nd quarter worth $268,000. WCM Investment Management LLC raised its position in Sterling Infrastructure by 42.7% during the 2nd quarter. WCM Investment Management LLC now owns 150,567 shares of the construction company's stock worth $34,858,000 after buying an additional 45,019 shares during the last quarter. Finally, New York State Teachers Retirement System increased its holdings in shares of Sterling Infrastructure by 549.9% in the 2nd quarter. New York State Teachers Retirement System now owns 17,620 shares of the construction company's stock valued at $4,065,000 after purchasing an additional 14,909 shares in the last quarter. Hedge funds and other institutional investors own 80.95% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on STRL. Zacks Research upgraded shares of Sterling Infrastructure from a "hold" rating to a "strong-buy" rating in a report on Friday, September 5th. Weiss Ratings reiterated a "buy (b)" rating on shares of Sterling Infrastructure in a report on Wednesday, October 8th. DA Davidson increased 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. Finally, Wall Street Zen downgraded shares of Sterling Infrastructure from a "strong-buy" rating to a "buy" rating in a report on Friday, September 26th. One research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $355.00.

Sterling Infrastructure Price Performance

Shares of NASDAQ STRL opened at $355.58 on Friday. The stock has a market cap of $10.82 billion, a price-to-earnings ratio of 38.65, a PEG ratio of 2.67 and a beta of 1.38. Sterling Infrastructure, Inc. has a 52 week low of $96.34 and a 52 week high of $376.75. The company's 50-day moving average price is $318.02 and its 200 day moving average price is $239.91. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.31.

Sterling Infrastructure (NASDAQ:STRL - Get Free Report) last issued its quarterly earnings data on Monday, June 3rd. The construction company reported $0.64 EPS for the quarter. The firm had revenue of $403.58 million for the quarter. Sterling Infrastructure had a net margin of 13.33% and a return on equity of 27.93%. As a group, research analysts forecast that Sterling Infrastructure, Inc. will post 5.98 earnings per share for the current fiscal year.

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.

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