Inspire Advisors LLC Invests $429,000 in Sterling Infrastructure, Inc. (NASDAQ:STRL)

Key Points

• Inspire Advisors LLC has acquired a new stake in Sterling Infrastructure, purchasing 3,790 shares valued at approximately $429,000.
• Institutional investors own approximately 80.95% of Sterling Infrastructure, with notable increases in holdings from Vanguard Group and Capital Research Global Investors in recent quarters.
• Analysts have mixed views on the stock, with a recent price target increase from DA Davidson to $265.00, while Wall Street Zen downgraded it from a "buy" to a "hold" rating.

Inspire Advisors LLC purchased a new position in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 3,790 shares of the construction company's stock, valued at approximately $429,000.

A number of other hedge funds have also recently added to or reduced their stakes in STRL. Commonwealth Equity Services LLC grew its stake in Sterling Infrastructure by 30.0% during the 4th quarter. Commonwealth Equity Services LLC now owns 4,233 shares of the construction company's stock worth $713,000 after buying an additional 977 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in Sterling Infrastructure during the 4th quarter worth approximately $1,061,000. LPL Financial LLC grew its stake in shares of Sterling Infrastructure by 11.9% in the 4th quarter. LPL Financial LLC now owns 64,850 shares of the construction company's stock valued at $10,924,000 after purchasing an additional 6,903 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Sterling Infrastructure by 30.0% in the 4th quarter. Vanguard Group Inc. now owns 2,523,804 shares of the construction company's stock valued at $425,135,000 after purchasing an additional 581,847 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Sterling Infrastructure by 31.3% in the 4th quarter. JPMorgan Chase & Co. now owns 170,709 shares of the construction company's stock valued at $28,756,000 after purchasing an additional 40,661 shares during the last quarter. Hedge funds and other institutional investors own 80.95% of the company's stock.

Analyst Ratings Changes

STRL has been the topic of several analyst reports. Wall Street Zen downgraded Sterling Infrastructure from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. DA Davidson lifted their target price on Sterling Infrastructure from $205.00 to $265.00 and gave the company a "buy" rating in a research note on Wednesday, June 18th.

Insider Activity at Sterling Infrastructure

In other news, Director Dana C. O'brien sold 10,154 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $206.58, for a total value of $2,097,613.32. Following the completion of the sale, the director directly owned 16,498 shares of the company's stock, valued at $3,408,156.84. This trade represents a 38.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Mark D. Wolf sold 3,500 shares of Sterling Infrastructure stock in a transaction 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 transaction, the general counsel directly owned 29,315 shares of the company's stock, valued at approximately $6,621,379.05. This represents a 10.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.70% of the stock is owned by company insiders.

Sterling Infrastructure Price Performance

Shares of STRL traded down $5.90 during mid-day trading on Friday, hitting $261.69. The company's stock had a trading volume of 543,275 shares, compared to its average volume of 665,744. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.34. The firm has a 50-day simple moving average of $222.81 and a 200 day simple moving average of $170.63. The firm has a market capitalization of $7.96 billion, a P/E ratio of 30.61, a P/E/G ratio of 2.18 and a beta of 1.40. Sterling Infrastructure, Inc. has a 1-year low of $93.50 and a 1-year high of $270.38.

Sterling Infrastructure Profile

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.