Sterling Infrastructure, Inc. (NASDAQ:STRL) Shares Bought by MRP Capital Investments LLC

Key Points

• MRP Capital Investments LLC increased its stake in Sterling Infrastructure, Inc. by 130.2% in the first quarter, now owning 10,590 shares worth approximately $1.2 million.
• In addition to MRP, several other institutional investors, including Pacer Advisors Inc. and Inspire Advisors LLC, have recently bought stakes in Sterling Infrastructure, reflecting growing interest from the investment community.
• Analysts have mixed outlooks on the stock, with DA Davidson raising the price target to $265, while Wall Street Zen downgraded it from "buy" to "hold".

MRP Capital Investments LLC boosted its position in Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 130.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,590 shares of the construction company's stock after acquiring an additional 5,990 shares during the period. Sterling Infrastructure accounts for 1.1% of MRP Capital Investments LLC's investment portfolio, making the stock its 27th biggest position. MRP Capital Investments LLC's holdings in Sterling Infrastructure were worth $1,199,000 at the end of the most recent reporting period.

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

Insider Activity at Sterling Infrastructure

In other Sterling Infrastructure news, Director Dana C. O'brien sold 10,154 shares of the stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $206.58, for a total value of $2,097,613.32. Following the transaction, the director directly owned 16,498 shares in the company, valued at $3,408,156.84. This represents a 38.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Mark D. Wolf sold 3,500 shares of Sterling Infrastructure 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 transaction, the general counsel owned 29,315 shares in the company, valued at approximately $6,621,379.05. This trade represents a 10.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.70% of the company's stock.

Sterling Infrastructure Stock Down 1.7%

Shares of STRL traded down $4.55 during mid-day trading on Monday, hitting $263.59. 552,047 shares of the company's stock were exchanged, compared to its average volume of 409,441. The company has a market cap of $8.02 billion, a price-to-earnings ratio of 30.79, a P/E/G ratio of 2.22 and a beta of 1.40. Sterling Infrastructure, Inc. has a fifty-two week low of $93.50 and a fifty-two week high of $270.38. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.32 and a current ratio of 1.32. The stock's 50-day moving average is $219.65 and its 200-day moving average is $169.32.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. DA Davidson increased their target price 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 cut shares of Sterling Infrastructure from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th.

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.