Lingohr Asset Management GmbH Makes New Investment in Sterling Infrastructure, Inc. $STRL

Key Points

• Lingohr Asset Management GmbH has made a new investment in Sterling Infrastructure, Inc. by acquiring 921 shares valued at approximately $213,000 in Q2.
• Several institutional investors have significantly increased their stakes in Sterling Infrastructure, with Millennium Management LLC boosting its holdings by 743.9% in Q1.
• Analysts have a consensus Buy rating for Sterling Infrastructure, with price targets raised by some firms, indicating strong confidence in the company’s future performance.

Lingohr Asset Management GmbH bought a new position in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 921 shares of the construction company's stock, valued at approximately $213,000.

A number of other hedge funds also recently bought and sold shares of STRL. Millennium Management LLC lifted its holdings 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 valued at $55,857,000 after purchasing an additional 434,925 shares during the last quarter. Pacer Advisors Inc. acquired a new position in shares of Sterling Infrastructure in the 1st quarter valued at $28,689,000. Amanah Holdings Trust acquired a new position in shares of Sterling Infrastructure in the 2nd quarter valued at $44,527,000. Nuveen LLC acquired a new stake in Sterling Infrastructure during the 1st quarter worth about $19,741,000. Finally, Vanguard Group Inc. grew its position in 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. Hedge funds and other institutional investors own 80.95% of the company's stock.

Analyst Ratings Changes

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

Sterling Infrastructure Stock Down 0.8%

STRL stock opened at $313.55 on Monday. The firm has a market cap of $9.54 billion, a PE ratio of 34.08, a PEG ratio of 2.32 and a beta of 1.35. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.42 and a current ratio of 1.42. The firm's 50 day moving average price is $272.84 and its 200-day moving average price is $201.85. Sterling Infrastructure, Inc. has a one year low of $96.34 and a one year high of $321.79.

Insider Activity at Sterling Infrastructure

In other 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 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.70% of the company's stock.

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.

Want to see what other hedge funds are holding STRL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.