HMS Capital Management LLC Trims Stock Position in 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 reduced its holdings in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 32.9% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. 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 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in Sterling Infrastructure by 3,838.2% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,339 shares of the construction company's stock valued at $309,000 after purchasing an additional 1,305 shares in the last quarter. Douglas Lane & Associates LLC purchased a new position in shares of Sterling Infrastructure in the 2nd quarter valued at $369,000. HBW Advisory Services LLC acquired a new stake in Sterling Infrastructure during the 2nd quarter worth $300,000. Invst LLC grew its holdings in shares of Sterling Infrastructure by 13.3% during the first quarter. Invst LLC now owns 8,206 shares of the construction company's stock worth $929,000 after purchasing an additional 964 shares during the last quarter. Finally, Rhumbline Advisers increased its position in Sterling Infrastructure by 2.7% during the first quarter. Rhumbline Advisers now owns 47,770 shares of the construction company's stock worth $5,408,000 after buying an additional 1,270 shares during the period. Institutional investors and hedge funds own 80.95% of the company's stock.

Insider Activity at Sterling Infrastructure

In related news, General Counsel Mark D. Wolf sold 3,500 shares of the business's stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $225.87, for a total transaction of $790,545.00. Following the sale, the general counsel owned 29,315 shares of the company's stock, valued at approximately $6,621,379.05. The trade was a 10.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 3.70% of the stock is owned by company insiders.

Sterling Infrastructure Price Performance

Sterling Infrastructure stock traded up $7.27 during midday trading on Friday, reaching $355.85. The company's stock had a trading volume of 392,393 shares, compared to its average volume of 633,530. The firm has a market capitalization of $10.82 billion, a PE ratio of 38.70, a P/E/G ratio of 2.37 and a beta of 1.35. Sterling Infrastructure, Inc. has a fifty-two week low of $96.34 and a fifty-two week high of $363.08. The stock's 50 day simple moving average is $280.40 and its 200 day simple moving average is $206.39. 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

STRL has been the topic of a number of recent research reports. Zacks Research upgraded shares of Sterling Infrastructure from a "hold" rating to a "strong-buy" rating in a research note on Friday, September 5th. Wall Street Zen upgraded Sterling Infrastructure from a "buy" rating to a "strong-buy" rating in a research report on Saturday, September 13th. Finally, DA Davidson lifted 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 company's stock. Based on data from MarketBeat.com, Sterling Infrastructure presently has a consensus rating of "Buy" and an average 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.