Pacer Advisors Inc. Makes New Investment in Sterling Infrastructure, Inc. (NASDAQ:STRL)

Key Points

• Pacer Advisors Inc. purchased a new stake in Sterling Infrastructure, Inc., acquiring 253,414 shares valued at approximately $28.7 million, representing 0.83% ownership of the company.
• Several institutional investors have notably increased their stakes in Sterling Infrastructure, with Sunbelt Securities Inc. raising its position by 689.7% in the first quarter.
• Analysts have mixed views on Sterling Infrastructure, with DA Davidson raising its price target to $265, while Wall Street Zen downgraded the stock from a "buy" to a "hold" rating.

Pacer Advisors Inc. bought a new position in Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 253,414 shares of the construction company's stock, valued at approximately $28,689,000. Pacer Advisors Inc. owned 0.83% of Sterling Infrastructure at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Wealth Enhancement Advisory Services LLC raised its position in shares of Sterling Infrastructure by 38.6% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 4,804 shares of the construction company's stock worth $544,000 after buying an additional 1,337 shares during the period. Envestnet Asset Management Inc. raised its position in shares of Sterling Infrastructure by 30.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 78,454 shares of the construction company's stock worth $8,882,000 after buying an additional 18,254 shares during the period. D.A. Davidson & CO. increased its holdings in Sterling Infrastructure by 5.0% in the 1st quarter. D.A. Davidson & CO. now owns 2,424 shares of the construction company's stock valued at $274,000 after purchasing an additional 116 shares in the last quarter. Hudson Edge Investment Partners Inc. acquired a new stake in Sterling Infrastructure in the 1st quarter valued at $823,000. Finally, Sowell Financial Services LLC acquired a new stake in Sterling Infrastructure in the 1st quarter valued at $215,000. 80.95% of the stock is owned by hedge funds and other institutional investors.

Sterling Infrastructure Stock Up 6.1%

NASDAQ STRL traded up $15.46 during trading hours on Friday, hitting $268.14. The company had a trading volume of 559,222 shares, compared to its average volume of 409,441. Sterling Infrastructure, Inc. has a fifty-two week low of $93.50 and a fifty-two week high of $269.44. The company has a market capitalization of $8.15 billion, a price-to-earnings ratio of 31.32, a P/E/G ratio of 2.22 and a beta of 1.40. 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 firm's 50 day moving average is $218.09 and its 200 day moving average is $168.61.

Wall Street Analysts Forecast Growth

STRL has been the subject of several recent research reports. Wall Street Zen downgraded Sterling Infrastructure from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. DA Davidson increased their price target on Sterling Infrastructure from $205.00 to $265.00 and gave the company a "buy" rating in a report on Wednesday, June 18th.

Insider Activity

In other news, Director Dana C. O'brien sold 10,154 shares of the firm's stock in a transaction dated 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 in the company, valued at $3,408,156.84. This trade represents a 38.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Mark D. Wolf sold 3,500 shares of the firm's stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $225.87, for a total value of $790,545.00. Following the sale, the general counsel owned 29,315 shares of the company's stock, valued at $6,621,379.05. This represents a 10.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.70% of the stock is owned by company insiders.

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.