Next Century Growth Investors LLC Decreases Stake in Sterling Infrastructure, Inc. $STRL

Key Points

• Next Century Growth Investors LLC has reduced its stake in Sterling Infrastructure, Inc. by 25.0%, now owning approximately 0.27% of the company, valued at around $9.2 million.
• Other institutional investors such as OMERS ADMINISTRATION Corp and Truvestments Capital LLC have increased their stakes in Sterling Infrastructure during the same period, signaling ongoing institutional interest.
• Analysts have shifted their outlook on Sterling Infrastructure, with some raising the stock's rating from "buy" to "strong-buy" and increasing the price target to $355.00.

Next Century Growth Investors LLC cut its stake in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 25.0% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 81,387 shares of the construction company's stock after selling 27,085 shares during the period. Next Century Growth Investors LLC owned approximately 0.27% of Sterling Infrastructure worth $9,214,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. OMERS ADMINISTRATION Corp lifted its stake in Sterling Infrastructure by 72.2% during the first quarter. OMERS ADMINISTRATION Corp now owns 14,122 shares of the construction company's stock worth $1,599,000 after purchasing an additional 5,922 shares during the last quarter. Truvestments Capital LLC grew its stake in shares of Sterling Infrastructure by 11.4% in the first quarter. Truvestments Capital LLC now owns 7,878 shares of the construction company's stock worth $892,000 after purchasing an additional 809 shares in the last quarter. Delta Investment Management LLC boosted its stake in Sterling Infrastructure by 29.9% during the first quarter. Delta Investment Management LLC now owns 4,499 shares of the construction company's stock valued at $509,000 after buying an additional 1,036 shares in the last quarter. Ieq Capital LLC boosted its stake in Sterling Infrastructure by 94.8% during the first quarter. Ieq Capital LLC now owns 8,144 shares of the construction company's stock valued at $922,000 after buying an additional 3,963 shares in the last quarter. Finally, Aristides Capital LLC purchased a new stake in shares of Sterling Infrastructure during the first quarter valued at $846,000. 80.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on STRL shares. Wall Street Zen raised Sterling Infrastructure from a "buy" rating to a "strong-buy" rating in a research note on Friday, August 22nd. DA Davidson increased their price objective on Sterling Infrastructure from $265.00 to $355.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $355.00.

Sterling Infrastructure Stock Performance

Shares of NASDAQ STRL opened at $289.36 on Thursday. 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 has a market cap of $8.80 billion, a price-to-earnings ratio of 31.45, a P/E/G ratio of 2.23 and a beta of 1.46. The business's 50-day simple moving average is $257.97 and its 200-day simple moving average is $187.48. Sterling Infrastructure, Inc. has a 52 week low of $96.34 and a 52 week high of $321.79.

Insider Transactions at Sterling Infrastructure

In other news, General Counsel Mark D. Wolf sold 3,500 shares of the 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 transaction, the general counsel owned 29,315 shares of the company's stock, valued at approximately $6,621,379.05. This represents a 10.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Dana C. O'brien sold 10,154 shares of the 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 transaction, the director directly owned 16,498 shares in the company, 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. Corporate insiders own 3.70% of the company's stock.

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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