Oppenheimer Asset Management Inc. Buys Shares of 3,271 Sterling Infrastructure, Inc. (NASDAQ:STRL)

Oppenheimer Asset Management Inc. bought a new position in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 3,271 shares of the construction company's stock, valued at approximately $370,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. IFP Advisors Inc increased its position in shares of Sterling Infrastructure by 102.8% during the fourth quarter. IFP Advisors Inc now owns 657 shares of the construction company's stock worth $111,000 after purchasing an additional 333 shares in the last quarter. Jones Financial Companies Lllp raised its position in Sterling Infrastructure by 100.8% during the 4th quarter. Jones Financial Companies Lllp now owns 2,227 shares of the construction company's stock worth $375,000 after buying an additional 1,118 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in Sterling Infrastructure in the 4th quarter valued at approximately $39,000. Bravias Capital Group LLC purchased a new position in Sterling Infrastructure in the fourth quarter worth $278,000. Finally, Steward Partners Investment Advisory LLC increased its holdings in shares of Sterling Infrastructure by 385.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 752 shares of the construction company's stock valued at $127,000 after purchasing an additional 597 shares in the last quarter. 80.95% of the stock is currently owned by hedge funds and other institutional investors.

Sterling Infrastructure Trading Up 3.6%

NASDAQ STRL traded up $8.26 during mid-day trading on Thursday, reaching $236.98. 239,702 shares of the stock were exchanged, compared to its average volume of 520,381. Sterling Infrastructure, Inc. has a 1-year low of $93.50 and a 1-year high of $237.79. The stock has a market capitalization of $7.21 billion, a PE ratio of 27.68, a PEG ratio of 1.84 and a beta of 1.40. The business's fifty day simple moving average is $192.91 and its 200 day simple moving average is $160.39. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.32 and a current ratio of 1.32.

Insiders Place Their Bets

In other news, General Counsel Mark D. Wolf sold 3,500 shares of the business's 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 sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Dana C. O'brien sold 10,154 shares of the stock in a transaction on Monday, June 16th. The stock was sold at an average price of $206.58, for a total transaction of $2,097,613.32. Following the completion of the sale, the director directly owned 16,498 shares of the company's stock, valued at $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 owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on STRL. DA Davidson increased their price objective on shares of 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 upgraded Sterling Infrastructure from a "hold" rating to a "buy" rating in a research 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.