Sterling Infrastructure, Inc. (NASDAQ:STRL) Shares Purchased by Palisades Investment Partners LLC

Palisades Investment Partners LLC increased its position in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 2.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 118,800 shares of the construction company's stock after acquiring an additional 2,844 shares during the period. Sterling Infrastructure comprises 6.7% of Palisades Investment Partners LLC's holdings, making the stock its 3rd largest holding. Palisades Investment Partners LLC owned approximately 0.39% of Sterling Infrastructure worth $13,449,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in STRL. Vanguard Group Inc. boosted its position in Sterling Infrastructure by 30.0% in the fourth quarter. Vanguard Group Inc. now owns 2,523,804 shares of the construction company's stock valued at $425,135,000 after buying an additional 581,847 shares in the last quarter. Invesco Ltd. raised its stake in shares of Sterling Infrastructure by 22.5% during the fourth quarter. Invesco Ltd. now owns 757,273 shares of the construction company's stock valued at $127,563,000 after acquiring an additional 139,081 shares during the last quarter. Capital Research Global Investors raised its stake in shares of Sterling Infrastructure by 78.5% during the fourth quarter. Capital Research Global Investors now owns 574,976 shares of the construction company's stock valued at $96,855,000 after acquiring an additional 252,934 shares during the last quarter. Congress Asset Management Co. raised its stake in shares of Sterling Infrastructure by 6.5% during the first quarter. Congress Asset Management Co. now owns 532,198 shares of the construction company's stock valued at $60,250,000 after acquiring an additional 32,255 shares during the last quarter. Finally, First Trust Advisors LP raised its stake in shares of Sterling Infrastructure by 74.1% during the fourth quarter. First Trust Advisors LP now owns 356,339 shares of the construction company's stock valued at $60,025,000 after acquiring an additional 151,642 shares during the last quarter. Institutional investors and hedge funds own 80.95% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on STRL shares. DA Davidson raised their price target 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 downgraded shares of Sterling Infrastructure from a "buy" rating to a "hold" rating in a research note on Saturday.

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 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 sale, the general counsel directly owned 29,315 shares of the company's stock, valued at approximately $6,621,379.05. The trade was a 10.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Dana C. O'brien sold 10,154 shares of Sterling Infrastructure stock in a transaction on Monday, June 16th. The shares were 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 approximately $3,408,156.84. This trade represents a 38.10% 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.

Sterling Infrastructure Trading Up 2.7%

Shares of STRL stock traded up $6.18 during trading hours on Wednesday, hitting $233.20. 88,018 shares of the company's stock traded hands, compared to its average volume of 523,483. Sterling Infrastructure, Inc. has a 12 month low of $93.50 and a 12 month high of $240.49. The stock's 50 day simple moving average is $199.74 and its 200 day simple moving average is $161.95. The stock has a market cap of $7.09 billion, a PE ratio of 27.27, a price-to-earnings-growth ratio of 1.96 and a beta of 1.40. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.34.

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.