Palisades Investment Partners LLC Sells 20,072 Shares of Sterling Infrastructure, Inc. $STRL

Key Points

• Palisades Investment Partners LLC has reduced its stake in Sterling Infrastructure, Inc. (NASDAQ:STRL) by 16.9%, selling 20,072 shares and now holding 98,728 shares, representing a 10.0% portion of their portfolio.
• Institutional investors hold 80.95% of Sterling Infrastructure's stock, with notable increases in holdings from Vanguard Group Inc. and Millennium Management LLC.
• Researchers upgraded Sterling Infrastructure's stock rating to a "strong-buy" and set an average target price of $355.00 per share based on recent performance analysis.

Palisades Investment Partners LLC trimmed its stake in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 16.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 98,728 shares of the construction company's stock after selling 20,072 shares during the quarter. Sterling Infrastructure accounts for 10.0% of Palisades Investment Partners LLC's portfolio, making the stock its largest holding. Palisades Investment Partners LLC owned approximately 0.32% of Sterling Infrastructure worth $22,780,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in shares of Sterling Infrastructure by 6.3% in the 1st quarter. Vanguard Group Inc. now owns 2,682,995 shares of the construction company's stock worth $303,742,000 after acquiring an additional 159,191 shares in the last quarter. Fuller & Thaler Asset Management Inc. boosted its holdings in shares of Sterling Infrastructure by 7.5% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 1,498,999 shares of the construction company's stock worth $169,702,000 after acquiring an additional 105,222 shares in the last quarter. Congress Asset Management Co. boosted its holdings in shares of Sterling Infrastructure by 2.9% in the 2nd quarter. Congress Asset Management Co. now owns 547,688 shares of the construction company's stock worth $126,368,000 after acquiring an additional 15,490 shares in the last quarter. GW&K Investment Management LLC boosted its holdings in shares of Sterling Infrastructure by 37.7% in the 1st quarter. GW&K Investment Management LLC now owns 500,028 shares of the construction company's stock worth $56,608,000 after acquiring an additional 136,777 shares in the last quarter. Finally, Millennium Management LLC boosted its holdings in shares of Sterling Infrastructure by 743.9% in the 1st quarter. Millennium Management LLC now owns 493,393 shares of the construction company's stock worth $55,857,000 after acquiring an additional 434,925 shares in the last quarter. 80.95% of the stock is owned by institutional investors and hedge funds.

Sterling Infrastructure Price Performance

STRL opened at $342.11 on Friday. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.31. Sterling Infrastructure, Inc. has a 12 month low of $96.34 and a 12 month high of $376.75. The company has a fifty day simple moving average of $293.55 and a 200 day simple moving average of $216.79. The stock has a market cap of $10.41 billion, a P/E ratio of 37.19, a P/E/G ratio of 2.53 and a beta of 1.35.

Wall Street Analyst Weigh In

STRL has been the subject of several research analyst reports. Zacks Research upgraded shares of Sterling Infrastructure from a "hold" rating to a "strong-buy" rating in a research report on Friday, September 5th. Wall Street Zen cut shares of Sterling Infrastructure from a "strong-buy" rating to a "buy" rating in a research report on Friday. Finally, DA Davidson boosted their price objective on shares of Sterling Infrastructure from $265.00 to $355.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $355.00.

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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