Russell Investments Group Ltd. Lowers Stake in Sterling Infrastructure, Inc. $STRL

Key Points

• Russell Investments Group Ltd. reduced its stake in Sterling Infrastructure by 50.9%, owning 46,354 shares valued at approximately $5.25 million after selling nearly 48,000 shares in the first quarter.
• Other institutional investors, such as Sunbelt Securities Inc. and Versant Capital Management Inc., significantly increased their holdings, with Sunbelt growing its stake by 689.7%.
• Sterling Infrastructure received upgrades from analysts, with a price target increase from $265 to $355, resulting in an average rating of "Buy" for the stock.

Russell Investments Group Ltd. cut its position in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 50.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 46,354 shares of the construction company's stock after selling 47,999 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.15% of Sterling Infrastructure worth $5,248,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of STRL. Sunbelt Securities Inc. grew its holdings in shares of Sterling Infrastructure by 689.7% during the first quarter. Sunbelt Securities Inc. now owns 229 shares of the construction company's stock worth $26,000 after buying an additional 200 shares in the last quarter. Versant Capital Management Inc grew its holdings in shares of Sterling Infrastructure by 355.8% during the first quarter. Versant Capital Management Inc now owns 237 shares of the construction company's stock worth $27,000 after buying an additional 185 shares in the last quarter. Opal Wealth Advisors LLC purchased a new stake in shares of Sterling Infrastructure during the first quarter worth about $28,000. SBI Securities Co. Ltd. grew its holdings in shares of Sterling Infrastructure by 111.3% during the first quarter. SBI Securities Co. Ltd. now owns 488 shares of the construction company's stock worth $55,000 after buying an additional 257 shares in the last quarter. Finally, IFP Advisors Inc grew its holdings in shares of Sterling Infrastructure by 40.5% during the first quarter. IFP Advisors Inc now owns 923 shares of the construction company's stock worth $104,000 after buying an additional 266 shares in the last quarter. 80.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Wall Street Zen upgraded shares of Sterling Infrastructure from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. DA Davidson lifted their price target on shares of Sterling Infrastructure from $265.00 to $355.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Sterling Infrastructure has an average rating of "Buy" and an average target price of $355.00.

Sterling Infrastructure Price Performance

STRL opened at $278.03 on Friday. The company's 50 day simple moving average is $252.16 and its 200 day simple moving average is $183.56. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.42 and a current ratio of 1.42. Sterling Infrastructure, Inc. has a 1 year low of $96.34 and a 1 year high of $321.79. The stock has a market capitalization of $8.46 billion, a PE ratio of 30.22, a P/E/G ratio of 2.09 and a beta of 1.46.

Insider Activity at Sterling Infrastructure

In related news, Director Dana C. O'brien sold 10,154 shares of the firm's stock in a transaction that occurred 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 directly owned 16,498 shares of the company's stock, valued at approximately $3,408,156.84. This trade represents a 38.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $790,545.00. Following the transaction, the general counsel directly owned 29,315 shares in the company, valued at approximately $6,621,379.05. This trade represents a 10.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.70% of the stock is currently owned by company insiders.

Sterling Infrastructure 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.

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