Moran Wealth Management LLC Grows Stock Holdings in Sterling Infrastructure, Inc. (NASDAQ:STRL)

Moran Wealth Management LLC grew its holdings in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 58.6% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 4,036 shares of the construction company's stock after purchasing an additional 1,491 shares during the period. Moran Wealth Management LLC's holdings in Sterling Infrastructure were worth $457,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in STRL. Vanguard Group Inc. raised its holdings in Sterling Infrastructure by 30.0% in the 4th quarter. Vanguard Group Inc. now owns 2,523,804 shares of the construction company's stock worth $425,135,000 after acquiring an additional 581,847 shares during the last quarter. Capital Research Global Investors raised its holdings in Sterling Infrastructure by 78.5% in the 4th quarter. Capital Research Global Investors now owns 574,976 shares of the construction company's stock worth $96,855,000 after acquiring an additional 252,934 shares during the last quarter. First Trust Advisors LP raised its holdings in Sterling Infrastructure by 74.1% in the 4th quarter. First Trust Advisors LP now owns 356,339 shares of the construction company's stock worth $60,025,000 after acquiring an additional 151,642 shares during the last quarter. Invesco Ltd. raised its holdings in Sterling Infrastructure by 22.5% in the 4th quarter. Invesco Ltd. now owns 757,273 shares of the construction company's stock worth $127,563,000 after acquiring an additional 139,081 shares during the last quarter. Finally, Axiom Investors LLC DE purchased a new position in Sterling Infrastructure in the 4th quarter worth approximately $20,373,000. 80.95% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, General Counsel Mark D. Wolf sold 3,500 shares of the business's stock in a transaction 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 completion of the sale, the general counsel now owns 29,315 shares of the company's stock, valued at $6,621,379.05. The trade was a 10.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Dana C. O'brien sold 10,154 shares of the business's stock in a transaction on 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 now directly owns 16,498 shares of the company's stock, valued at approximately $3,408,156.84. The trade was a 38.10% decrease in their position. The disclosure for this sale can be found here. 3.70% of the stock is currently owned by insiders.

Sterling Infrastructure Trading Up 1.3%

NASDAQ:STRL opened at $231.51 on Friday. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.34. Sterling Infrastructure, Inc. has a 12 month low of $93.50 and a 12 month high of $235.23. The company has a market cap of $7.04 billion, a PE ratio of 27.05, a price-to-earnings-growth ratio of 1.89 and a beta of 1.37. The company has a 50 day simple moving average of $187.38 and a two-hundred day simple moving average of $159.49.

Wall Street Analyst Weigh In

STRL has been the subject of a number of recent analyst reports. DA Davidson boosted their price objective on shares of Sterling Infrastructure from $205.00 to $265.00 and gave the stock a "buy" rating in a report on Wednesday, June 18th. Wall Street Zen upgraded shares of Sterling Infrastructure from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd.

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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