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

Prosperity Wealth Management Inc. purchased a new position in Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 2,810 shares of the construction company's stock, valued at approximately $318,000.

A number of other institutional investors have also recently made changes to their positions in the stock. SBI Securities Co. Ltd. bought a new stake in Sterling Infrastructure in the 4th quarter worth approximately $39,000. Versant Capital Management Inc lifted its holdings in shares of Sterling Infrastructure by 355.8% in the 1st quarter. Versant Capital Management Inc now owns 237 shares of the construction company's stock worth $27,000 after acquiring an additional 185 shares during the last quarter. Opal Wealth Advisors LLC purchased a new stake in shares of Sterling Infrastructure in the 1st quarter valued at $28,000. Huntington National Bank boosted its stake in shares of Sterling Infrastructure by 34.6% in the 4th quarter. Huntington National Bank now owns 288 shares of the construction company's stock valued at $49,000 after purchasing an additional 74 shares in the last quarter. Finally, National Bank of Canada FI bought a new position in shares of Sterling Infrastructure during the 4th quarter valued at $56,000. Institutional investors own 80.95% of the company's stock.

Insider Buying and Selling at Sterling Infrastructure

In related news, 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 value of $2,097,613.32. Following the sale, the director now owns 16,498 shares in the company, valued at $3,408,156.84. The trade was a 38.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.70% of the stock is currently owned by corporate insiders.

Sterling Infrastructure Trading Up 1.2%

Shares of Sterling Infrastructure stock traded up $2.61 on Wednesday, hitting $223.97. The stock had a trading volume of 1,041,622 shares, compared to its average volume of 509,994. 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 one year low of $93.50 and a one year high of $233.20. The stock's 50-day simple moving average is $173.35 and its two-hundred day simple moving average is $157.43. The stock has a market cap of $6.81 billion, a price-to-earnings ratio of 26.16, a PEG ratio of 1.74 and a beta of 1.37.

Analyst Ratings Changes

Several analysts have weighed in on STRL shares. Wall Street Zen raised shares of Sterling Infrastructure from a "hold" rating to a "buy" rating in a research note on Thursday, May 22nd. DA Davidson increased their target price on Sterling Infrastructure from $205.00 to $265.00 and gave the company a "buy" rating in a report on Wednesday.

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.