Prosperity Wealth Management Inc. Purchases Shares of 2,810 Sterling Infrastructure, Inc. (NASDAQ:STRL)

Prosperity Wealth Management Inc. acquired a new stake in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,810 shares of the construction company's stock, valued at approximately $318,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Sterling Infrastructure by 30.0% during the fourth quarter. Vanguard Group Inc. now owns 2,523,804 shares of the construction company's stock worth $425,135,000 after acquiring an additional 581,847 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in shares of Sterling Infrastructure during the fourth quarter worth $47,712,000. Capital Research Global Investors lifted its position 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 worth $96,855,000 after acquiring an additional 252,934 shares in the last quarter. First Trust Advisors LP lifted its position 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 worth $60,025,000 after acquiring an additional 151,642 shares in the last quarter. Finally, Invesco Ltd. lifted its position 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 worth $127,563,000 after acquiring an additional 139,081 shares in the last quarter. 80.95% of the stock is owned by institutional investors.

Sterling Infrastructure Price Performance

Shares of STRL stock traded down $6.00 on Friday, reaching $217.97. The company's stock had a trading volume of 1,089,909 shares, compared to its average volume of 514,303. 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, Inc. has a 12-month low of $93.50 and a 12-month high of $233.57. The company has a market capitalization of $6.63 billion, a P/E ratio of 25.46, a PEG ratio of 1.81 and a beta of 1.37. The stock's 50 day simple moving average is $178.59 and its 200-day simple moving average is $157.96.

Insider Buying and Selling

In related news, 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 value of $2,097,613.32. Following the sale, the director now owns 16,498 shares in the company, valued at approximately $3,408,156.84. This trade represents a 38.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 3.70% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Wall Street Zen upgraded Sterling Infrastructure from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd. DA Davidson increased their target price on Sterling Infrastructure from $205.00 to $265.00 and gave the stock a "buy" rating in a research report on Wednesday.

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.