Neo Ivy Capital Management Makes New $2.11 Million Investment in Sterling Infrastructure, Inc. (NASDAQ:STRL)

Key Points

• Neo Ivy Capital Management has made a new investment of $2.11 million in Sterling Infrastructure, Inc. by acquiring 18,648 shares of the company.
• Sterling Infrastructure's stock price rose by 6.1% to $268.14, with a current market capitalization of $8.15 billion.
• Insider selling includes General Counsel Mark D. Wolf, who sold 3,500 shares for approximately $790,545, indicating a significant 10.67% decrease in their holdings.

Neo Ivy Capital Management acquired a new position in Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 18,648 shares of the construction company's stock, valued at approximately $2,111,000. Neo Ivy Capital Management owned 0.06% of Sterling Infrastructure as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in STRL. Assetmark Inc. boosted its stake in Sterling Infrastructure by 5.4% during the first quarter. Assetmark Inc. now owns 1,372 shares of the construction company's stock valued at $155,000 after buying an additional 70 shares during the last quarter. Huntington National Bank boosted its stake in Sterling Infrastructure by 34.6% during the fourth quarter. Huntington National Bank now owns 288 shares of the construction company's stock valued at $49,000 after buying an additional 74 shares during the last quarter. Peterson Wealth Services boosted its stake in Sterling Infrastructure by 2.1% during the first quarter. Peterson Wealth Services now owns 5,054 shares of the construction company's stock valued at $572,000 after buying an additional 103 shares during the last quarter. D.A. Davidson & CO. boosted its stake in Sterling Infrastructure by 5.0% during the first quarter. D.A. Davidson & CO. now owns 2,424 shares of the construction company's stock valued at $274,000 after buying an additional 116 shares during the last quarter. Finally, JT Stratford LLC boosted its stake in Sterling Infrastructure by 1.0% during the fourth quarter. JT Stratford LLC now owns 12,465 shares of the construction company's stock valued at $2,100,000 after buying an additional 121 shares during the last quarter. Institutional investors own 80.95% of the company's stock.

Sterling Infrastructure Stock Up 6.1%

NASDAQ STRL traded up $15.46 during midday trading on Friday, hitting $268.14. 559,222 shares of the company traded hands, compared to its average volume of 432,406. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.32 and a quick ratio of 1.32. The company has a market cap of $8.15 billion, a PE ratio of 31.32, a price-to-earnings-growth ratio of 2.09 and a beta of 1.40. The company's 50-day simple moving average is $216.50 and its 200-day simple moving average is $167.91. Sterling Infrastructure, Inc. has a 52 week low of $93.50 and a 52 week high of $269.44.

Insiders Place Their Bets

In other Sterling Infrastructure news, General Counsel Mark D. Wolf sold 3,500 shares of Sterling Infrastructure stock in a transaction dated 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 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Dana C. O'brien sold 10,154 shares of Sterling Infrastructure stock in a transaction dated 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 completion of the transaction, the director owned 16,498 shares of the company's stock, valued at approximately $3,408,156.84. This represents a 38.10% decrease in their position. The disclosure for this sale can be found here. 3.70% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. DA Davidson increased their price target 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 downgraded Sterling Infrastructure from a "buy" rating to a "hold" rating in a research report 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.