Rhumbline Advisers Has $5.41 Million Stock Holdings in Sterling Infrastructure, Inc. $STRL

Key Points

• Rhumbline Advisers increased its stake in Sterling Infrastructure by 2.7% during the first quarter, holding approximately 47,770 shares valued at about $5.4 million.
• Institutional ownership of Sterling Infrastructure stands at 80.95%, with significant increases reported by Deutsche Bank and Comerica Bank in the fourth quarter.
• Analysts have recently upgraded Sterling Infrastructure's rating to "strong-buy," with a consensus target price raised to $355.00.

Rhumbline Advisers boosted its position in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 2.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,770 shares of the construction company's stock after acquiring an additional 1,270 shares during the period. Rhumbline Advisers owned 0.16% of Sterling Infrastructure worth $5,408,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in STRL. Ieq Capital LLC grew its holdings in Sterling Infrastructure by 94.8% during the 1st quarter. Ieq Capital LLC now owns 8,144 shares of the construction company's stock worth $922,000 after acquiring an additional 3,963 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Sterling Infrastructure by 38.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 4,804 shares of the construction company's stock worth $544,000 after buying an additional 1,337 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Sterling Infrastructure by 30.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 78,454 shares of the construction company's stock worth $8,882,000 after acquiring an additional 18,254 shares in the last quarter. D.A. Davidson & CO. increased its holdings in Sterling Infrastructure by 5.0% in the 1st quarter. D.A. Davidson & CO. now owns 2,424 shares of the construction company's stock worth $274,000 after acquiring an additional 116 shares in the last quarter. Finally, Hudson Edge Investment Partners Inc. acquired a new position in shares of Sterling Infrastructure during the first quarter valued at approximately $823,000. Institutional investors own 80.95% of the company's stock.

Insider Buying and Selling

In related news, General Counsel Mark D. Wolf sold 3,500 shares of the business's stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $225.87, for a total value of $790,545.00. Following the completion of the sale, the general counsel directly owned 29,315 shares in the company, valued at approximately $6,621,379.05. The trade was a 10.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.70% of the stock is owned by corporate insiders.

Sterling Infrastructure Price Performance

Shares of NASDAQ STRL traded up $9.35 during trading on Monday, hitting $322.90. The company had a trading volume of 490,951 shares, compared to its average volume of 386,003. Sterling Infrastructure, Inc. has a 52 week low of $96.34 and a 52 week high of $326.82. The business's 50-day moving average is $274.55 and its 200 day moving average is $203.22. The company has a market cap of $9.82 billion, a P/E ratio of 35.10, a PEG ratio of 2.32 and a beta of 1.35. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.42 and a current ratio of 1.42.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on STRL shares. Wall Street Zen raised Sterling Infrastructure from a "buy" rating to a "strong-buy" rating in a research report on Saturday. DA Davidson lifted their target price on shares of Sterling Infrastructure from $265.00 to $355.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Finally, Zacks Research raised Sterling Infrastructure from a "hold" rating to a "strong-buy" rating in a report on Friday, September 5th. One research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $355.00.

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.