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

A number of other institutional investors have also modified their holdings of the company. Millennium Management LLC increased its position in Sterling Infrastructure by 743.9% during the first quarter. Millennium Management LLC now owns 493,393 shares of the construction company's stock worth $55,857,000 after purchasing an additional 434,925 shares during the last quarter. Pacer Advisors Inc. acquired a new position in Sterling Infrastructure during the first quarter worth approximately $28,689,000. Amanah Holdings Trust acquired a new stake in shares of Sterling Infrastructure in the second quarter worth $44,527,000. Nuveen LLC acquired a new stake in shares of Sterling Infrastructure in the first quarter worth $19,741,000. Finally, Vanguard Group Inc. increased its position in shares of Sterling Infrastructure by 6.3% in the first 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. Institutional investors and hedge funds own 80.95% of the company's stock.

Insider Activity at Sterling Infrastructure

In other news, General Counsel Mark D. Wolf sold 3,500 shares of Sterling Infrastructure stock in a transaction that occurred 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 transaction, the general counsel owned 29,315 shares of the company's stock, valued at $6,621,379.05. This trade represents a 10.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 3.70% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on STRL. DA Davidson increased 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. Zacks Research upgraded shares of Sterling Infrastructure from a "hold" rating to a "strong-buy" rating in a research note on Friday, September 5th. Finally, Wall Street Zen upgraded shares of Sterling Infrastructure from a "buy" rating to a "strong-buy" rating in a research note on Saturday, September 13th. One equities research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $355.00.

Sterling Infrastructure Trading Up 3.3%

Shares of STRL traded up $11.67 during midday trading on Friday, hitting $360.25. The stock had a trading volume of 2,093,500 shares, compared to its average volume of 399,630. Sterling Infrastructure, Inc. has a fifty-two week low of $96.34 and a fifty-two week high of $363.08. The business has a 50-day simple moving average of $282.77 and a two-hundred day simple moving average of $208.59. The firm has a market cap of $10.96 billion, a P/E ratio of 39.16, a price-to-earnings-growth ratio of 2.67 and a beta of 1.35. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.31.

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.