HMS Capital Management LLC Sells 1,657 Shares of Sterling Infrastructure, Inc. $STRL

Key Points

• HMS Capital Management LLC reduced its holdings in Sterling Infrastructure by 32.9%, selling 1,657 shares and now owns 3,380 shares valued at approximately $780,000.
• Millennium Management LLC significantly increased its stake in Sterling Infrastructure by 743.9% during the first quarter, now possessing 493,393 shares worth about $55.9 million.
• Several analysts upgraded Sterling Infrastructure's stock, with ratings changing from "buy" to "strong-buy", and a price target raised from $265 to $355.

HMS Capital Management LLC lowered its position in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 32.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,380 shares of the construction company's stock after selling 1,657 shares during the quarter. HMS Capital Management LLC's holdings in Sterling Infrastructure were worth $780,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its position 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 in the last quarter. Fuller & Thaler Asset Management Inc. increased its position in shares of Sterling Infrastructure by 7.5% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 1,498,999 shares of the construction company's stock worth $169,702,000 after purchasing an additional 105,222 shares in the last quarter. Congress Asset Management Co. increased its position in Sterling Infrastructure by 6.5% in the 1st quarter. Congress Asset Management Co. now owns 532,198 shares of the construction company's stock valued at $60,250,000 after acquiring an additional 32,255 shares in the last quarter. GW&K Investment Management LLC increased its position in Sterling Infrastructure by 37.7% in the 1st quarter. GW&K Investment Management LLC now owns 500,028 shares of the construction company's stock valued at $56,608,000 after acquiring an additional 136,777 shares in the last quarter. Finally, Millennium Management LLC increased its position in Sterling Infrastructure by 743.9% in the 1st quarter. Millennium Management LLC now owns 493,393 shares of the construction company's stock valued at $55,857,000 after acquiring an additional 434,925 shares in the last quarter. Institutional investors and hedge funds own 80.95% of the company's stock.

Insiders Place Their Bets

In related news, General Counsel Mark D. Wolf sold 3,500 shares of Sterling Infrastructure stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $225.87, for a total transaction of $790,545.00. Following the transaction, the general counsel owned 29,315 shares of the company's stock, valued at $6,621,379.05. This trade represents a 10.67% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.70% of the stock is owned by insiders.

Analyst Ratings Changes

STRL has been the subject of several research reports. Zacks Research upgraded shares of Sterling Infrastructure from a "hold" rating to a "strong-buy" rating in a research report on Friday, September 5th. Wall Street Zen upgraded shares of Sterling Infrastructure from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Finally, DA Davidson raised their price objective on shares of Sterling Infrastructure from $265.00 to $355.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $355.00.

Sterling Infrastructure Trading Down 1.1%

Sterling Infrastructure stock traded down $3.52 during midday trading on Tuesday, hitting $319.38. 387,544 shares of the stock were exchanged, compared to its average volume of 390,982. The company has a fifty day simple moving average of $276.40 and a two-hundred day simple moving average of $204.02. Sterling Infrastructure, Inc. has a 52 week low of $96.34 and a 52 week high of $327.07. The stock has a market capitalization of $9.72 billion, a PE ratio of 34.72, a P/E/G ratio of 2.39 and a beta of 1.35. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.31.

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.