Sterling Infrastructure, Inc. (NASDAQ:STRL) Shares Acquired by Royce & Associates LP

Key Points

• Royce & Associates LP has significantly increased its stake in Sterling Infrastructure, acquiring an additional 34,127 shares, raising their ownership by 56.8% to a total of 94,193 shares.
• Institutional investors collectively own 80.95% of Sterling Infrastructure's shares, with notable increases in holdings by firms such as Sunbelt Securities Inc. and Versant Capital Management Inc. during the first quarter.
• Recent analyst activity saw Wall Street Zen downgrade Sterling from a "buy" to a "hold" rating, while DA Davidson raised the target price from $205.00 to $265.00, giving a "buy" rating.

Royce & Associates LP raised its stake in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 56.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 94,193 shares of the construction company's stock after purchasing an additional 34,127 shares during the quarter. Royce & Associates LP owned about 0.31% of Sterling Infrastructure worth $10,664,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in STRL. Commonwealth Equity Services LLC lifted its holdings in Sterling Infrastructure by 30.0% during the fourth quarter. Commonwealth Equity Services LLC now owns 4,233 shares of the construction company's stock valued at $713,000 after purchasing an additional 977 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in Sterling Infrastructure during the fourth quarter worth about $1,061,000. LPL Financial LLC boosted its stake in Sterling Infrastructure by 11.9% during the fourth quarter. LPL Financial LLC now owns 64,850 shares of the construction company's stock worth $10,924,000 after buying an additional 6,903 shares during the period. Vanguard Group Inc. boosted its stake in shares of Sterling Infrastructure by 30.0% in the fourth quarter. Vanguard Group Inc. now owns 2,523,804 shares of the construction company's stock valued at $425,135,000 after purchasing an additional 581,847 shares during the period. Finally, Prudential Financial Inc. boosted its stake in shares of Sterling Infrastructure by 134.2% in the fourth quarter. Prudential Financial Inc. now owns 73,649 shares of the construction company's stock valued at $12,406,000 after purchasing an additional 42,207 shares during the period. 80.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Wall Street Zen downgraded shares of Sterling Infrastructure from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. DA Davidson lifted their target price on shares of Sterling Infrastructure from $205.00 to $265.00 and gave the company a "buy" rating in a report on Wednesday, June 18th.

Insiders Place Their Bets

In other news, General Counsel Mark D. Wolf sold 3,500 shares of the company's stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $225.87, for a total transaction of $790,545.00. Following the transaction, the general counsel directly owned 29,315 shares of the company's stock, valued at $6,621,379.05. This represents a 10.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Dana C. O'brien sold 10,154 shares of the business's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $206.58, for a total transaction of $2,097,613.32. Following the completion of the sale, the director owned 16,498 shares in the company, valued at $3,408,156.84. This represents a 38.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.70% of the company's stock.

Sterling Infrastructure Price Performance

Shares of NASDAQ:STRL traded down $3.84 on Monday, reaching $264.30. 319,778 shares of the company were exchanged, compared to its average volume of 669,293. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.34. Sterling Infrastructure, Inc. has a 1-year low of $93.50 and a 1-year high of $270.38. The firm has a market cap of $8.04 billion, a price-to-earnings ratio of 30.84, a price-to-earnings-growth ratio of 2.22 and a beta of 1.40. The company has a 50-day moving average of $218.09 and a 200-day moving average of $168.63.

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.