Northern Trust Corp Reduces Stock Holdings in Sterling Infrastructure, Inc. $STRL

Key Points

• Northern Trust Corp has reduced its ownership in Sterling Infrastructure, Inc. by 0.5%, selling 1,720 shares and now holding 339,329 shares valued at $38.4 million.
• Multiple institutional investors, including Sunbelt Securities and Versant Capital, have significantly increased their holdings in Sterling Infrastructure during the same quarter, indicating growing institutional interest.
• Analysts have boosted their target price for Sterling Infrastructure from $265 to $355, reflecting increased confidence in the stock with a consensus rating of "Buy".

Northern Trust Corp reduced its stake in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 0.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 339,329 shares of the construction company's stock after selling 1,720 shares during the period. Northern Trust Corp owned 1.12% of Sterling Infrastructure worth $38,415,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. Sunbelt Securities Inc. raised its position in shares of Sterling Infrastructure by 689.7% in the 1st quarter. Sunbelt Securities Inc. now owns 229 shares of the construction company's stock worth $26,000 after acquiring an additional 200 shares in the last quarter. Versant Capital Management Inc boosted its holdings in Sterling Infrastructure by 355.8% in the first quarter. Versant Capital Management Inc now owns 237 shares of the construction company's stock worth $27,000 after acquiring an additional 185 shares in the last quarter. Opal Wealth Advisors LLC acquired a new stake in Sterling Infrastructure in the first quarter valued at approximately $28,000. SBI Securities Co. Ltd. increased its holdings in shares of Sterling Infrastructure by 111.3% during the first quarter. SBI Securities Co. Ltd. now owns 488 shares of the construction company's stock valued at $55,000 after acquiring an additional 257 shares in the last quarter. Finally, IFP Advisors Inc raised its position in shares of Sterling Infrastructure by 40.5% during the first quarter. IFP Advisors Inc now owns 923 shares of the construction company's stock worth $104,000 after purchasing an additional 266 shares during the period. 80.95% of the stock is owned by institutional investors.

Insider Activity at Sterling Infrastructure

In related news, Director Dana C. O'brien sold 10,154 shares of the company's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $206.58, for a total value of $2,097,613.32. Following the transaction, the director owned 16,498 shares in the company, valued at approximately $3,408,156.84. This represents a 38.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Mark D. Wolf sold 3,500 shares of the company's stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $225.87, for a total value 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. The trade was a 10.67% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.70% of the company's stock.

Sterling Infrastructure Stock Performance

Shares of STRL stock traded down $1.53 during trading on Tuesday, hitting $277.01. The company's stock had a trading volume of 192,773 shares, compared to its average volume of 647,087. The company has a market cap of $8.43 billion, a PE ratio of 30.11, a P/E/G ratio of 2.12 and a beta of 1.35. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.31. The business has a fifty day moving average of $261.65 and a 200-day moving average of $191.15. Sterling Infrastructure, Inc. has a 52 week low of $96.34 and a 52 week high of $321.79.

Analyst Ratings Changes

Several research firms have weighed in on STRL. DA Davidson upped their price objective on shares of Sterling Infrastructure from $265.00 to $355.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Wall Street Zen downgraded Sterling Infrastructure from a "strong-buy" rating to a "buy" rating in a research note on Saturday. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $355.00.

Sterling Infrastructure Company 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.