Redhawk Wealth Advisors Inc. Purchases New Shares in Sterling Infrastructure, Inc. $STRL

Key Points

• Redhawk Wealth Advisors Inc. has acquired a new stake in Sterling Infrastructure, Inc., purchasing 969 shares for approximately $224,000 in the second quarter of 2023.
• Other institutional investors are also increasing their positions in Sterling Infrastructure, with notable raises including a 289.3% increase from the Public Employees Retirement System of Ohio.
• Sterling Infrastructure has received positive ratings from analysts, with Zacks Research upgrading the company from a "hold" to a "strong-buy" rating.

Redhawk Wealth Advisors Inc. bought a new stake in Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 969 shares of the construction company's stock, valued at approximately $224,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Sterling Infrastructure by 6.3% during the 1st quarter. Vanguard Group Inc. now owns 2,682,995 shares of the construction company's stock worth $303,742,000 after purchasing an additional 159,191 shares during the last quarter. Fuller & Thaler Asset Management Inc. increased its position in 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 valued at $169,702,000 after acquiring an additional 105,222 shares during the period. Congress Asset Management Co. raised its stake in Sterling Infrastructure by 6.5% during the 1st 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. GW&K Investment Management LLC lifted its position in Sterling Infrastructure by 37.7% during 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 during the period. Finally, Millennium Management LLC grew its stake 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 valued at $55,857,000 after purchasing an additional 434,925 shares during the last quarter. Hedge funds and other institutional investors own 80.95% of the company's stock.

Analyst Upgrades and Downgrades

STRL has been the topic of a number of 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 upgraded shares of Sterling Infrastructure from a "buy" rating to a "strong-buy" rating in a research report on Saturday, September 13th. Finally, DA Davidson upped their target price on Sterling Infrastructure from $265.00 to $355.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. One investment analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $355.00.

Sterling Infrastructure Stock Up 0.9%

NASDAQ:STRL traded up $3.39 during mid-day trading on Tuesday, hitting $370.78. The company had a trading volume of 118,101 shares, compared to its average volume of 639,323. Sterling Infrastructure, Inc. has a 1 year low of $96.34 and a 1 year high of $374.67. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $11.28 billion, a price-to-earnings ratio of 40.29, a PEG ratio of 2.67 and a beta of 1.35. The business has a fifty day simple moving average of $285.29 and a 200-day simple moving average of $210.94.

Sterling Infrastructure Company 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.