HBW Advisory Services LLC Buys Shares of 1,300 Sterling Infrastructure, Inc. $STRL

Key Points

• HBW Advisory Services LLC acquired 1,300 shares of Sterling Infrastructure, Inc. (NASDAQ:STRL), valued at approximately $300,000, in the second quarter.
• Institutional investors hold a significant ownership stake of 80.95% in Sterling Infrastructure, with notable increases from firms such as Millennium Management and Vanguard Group.
• Wall Street analysts are optimistic, with ratings upgrades and a consensus target price of $355.00 for Sterling Infrastructure shares.

HBW Advisory Services LLC bought a new stake in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 1,300 shares of the construction company's stock, valued at approximately $300,000.

A number of other large investors have also recently bought and sold shares of STRL. Millennium Management LLC lifted its stake in shares of Sterling Infrastructure by 743.9% during the 1st quarter. Millennium Management LLC now owns 493,393 shares of the construction company's stock worth $55,857,000 after purchasing an additional 434,925 shares during the period. Pacer Advisors Inc. purchased a new position in shares of Sterling Infrastructure during the 1st quarter worth $28,689,000. Nuveen LLC purchased a new position in shares of Sterling Infrastructure during the 1st quarter worth $19,741,000. Vanguard Group Inc. lifted its stake in shares of Sterling Infrastructure by 6.3% during the 1st 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 period. Finally, GW&K Investment Management LLC lifted its stake in shares of Sterling Infrastructure by 37.7% during the 1st quarter. GW&K Investment Management LLC now owns 500,028 shares of the construction company's stock worth $56,608,000 after purchasing an additional 136,777 shares during the period. Institutional investors and hedge funds own 80.95% of the company's stock.

Sterling Infrastructure Stock Down 0.8%

Shares of NASDAQ STRL opened at $313.55 on Monday. Sterling Infrastructure, Inc. has a 12-month low of $96.34 and a 12-month high of $321.79. The company has a market cap of $9.54 billion, a P/E ratio of 34.08, a P/E/G ratio of 2.32 and a beta of 1.35. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.31. The stock has a fifty day moving average price of $272.84 and a 200 day moving average price of $201.85.

Insider Buying and Selling

In related news, General Counsel Mark D. Wolf sold 3,500 shares of Sterling Infrastructure stock in a transaction dated 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 transaction, the general counsel directly owned 29,315 shares in the company, valued at approximately $6,621,379.05. This trade represents a 10.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.70% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Wall Street Zen raised Sterling Infrastructure from a "buy" rating to a "strong-buy" rating in a research report on Saturday. DA Davidson increased their target price on Sterling Infrastructure from $265.00 to $355.00 and gave the stock 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 research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the stock. According to MarketBeat.com, Sterling Infrastructure currently has a consensus rating of "Buy" and a consensus target price of $355.00.

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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