KLP Kapitalforvaltning AS Raises Stock Holdings in Sterling Infrastructure, Inc. (NASDAQ:STRL)

Key Points

• KLP Kapitalforvaltning AS increased its stake in Sterling Infrastructure, Inc. by 28.6%, owning 8,100 shares valued at approximately $917,000.
• Other institutional investors have also significantly raised their holdings, with Sunbelt Securities increasing by 689.7% and Versant Capital Management by 355.8% during the first quarter.
• Sterling Infrastructure's stock was down 1.7%, with a market capitalization of $8.02 billion and a P/E ratio of 30.79 as of the latest trading session.

KLP Kapitalforvaltning AS raised its position in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 28.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,100 shares of the construction company's stock after buying an additional 1,800 shares during the quarter. KLP Kapitalforvaltning AS's holdings in Sterling Infrastructure were worth $917,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of STRL. Sunbelt Securities Inc. lifted its position in Sterling Infrastructure by 689.7% during the 1st quarter. Sunbelt Securities Inc. now owns 229 shares of the construction company's stock valued at $26,000 after acquiring an additional 200 shares during the period. Versant Capital Management Inc increased its stake in shares of Sterling Infrastructure by 355.8% during the first quarter. Versant Capital Management Inc now owns 237 shares of the construction company's stock valued at $27,000 after purchasing an additional 185 shares in the last quarter. Opal Wealth Advisors LLC purchased a new position in shares of Sterling Infrastructure during the first quarter valued at approximately $28,000. Huntington National Bank boosted its position in shares of Sterling Infrastructure by 34.6% in the 4th quarter. Huntington National Bank now owns 288 shares of the construction company's stock worth $49,000 after purchasing an additional 74 shares in the last quarter. Finally, SBI Securities Co. Ltd. boosted its position in shares of Sterling Infrastructure by 111.3% in the 1st quarter. SBI Securities Co. Ltd. now owns 488 shares of the construction company's stock worth $55,000 after purchasing an additional 257 shares in the last quarter. Institutional investors own 80.95% of the company's stock.

Sterling Infrastructure Stock Down 1.7%

STRL stock opened at $263.59 on Tuesday. The stock has a market capitalization of $8.02 billion, a P/E ratio of 30.79, a P/E/G ratio of 2.22 and a beta of 1.40. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.32 and a quick ratio of 1.32. Sterling Infrastructure, Inc. has a 1-year low of $93.50 and a 1-year high of $270.38. The business has a fifty day moving average price of $219.65 and a 200-day moving average price of $169.32.

Insider Transactions at Sterling Infrastructure

In other news, Director Dana C. O'brien sold 10,154 shares of the firm's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $206.58, for a total transaction of $2,097,613.32. Following the sale, the director 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Mark D. Wolf sold 3,500 shares of Sterling Infrastructure stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $225.87, for a total transaction of $790,545.00. Following the completion of the sale, the general counsel owned 29,315 shares of the company's stock, valued at $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. 2.70% of the stock is currently owned by insiders.

Analyst Ratings Changes

STRL has been the subject of a number of recent research reports. DA Davidson lifted their price objective on Sterling Infrastructure from $205.00 to $265.00 and gave the company a "buy" rating in a research note on Wednesday, June 18th. Wall Street Zen lowered Sterling Infrastructure from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th.

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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