Scientech Research LLC Acquires Shares of 5,176 Sterling Infrastructure, Inc. $STRL

Key Points

• Scientech Research LLC has made a new investment in Sterling Infrastructure, Inc. by purchasing 5,176 shares valued at approximately $586,000 during the first quarter.
• Other institutional investors have significantly boosted their holdings in Sterling Infrastructure, with Sunbelt Securities Inc. increasing by 689.7% and Versant Capital Management Inc. by 355.8% within the same period.
• Sterling Infrastructure's stock received a buy rating from DA Davidson, with an increased price target set at $355.00, while Wall Street Zen lowered its rating from "strong-buy" to "buy".

Scientech Research LLC purchased a new position in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 5,176 shares of the construction company's stock, valued at approximately $586,000.

Other large investors have also recently modified their holdings of the company. Sunbelt Securities Inc. increased its holdings in shares of Sterling Infrastructure by 689.7% in 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 during the period. Versant Capital Management Inc increased its holdings in shares of Sterling Infrastructure by 355.8% in 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 during the period. Opal Wealth Advisors LLC purchased a new position in shares of Sterling Infrastructure in the first quarter worth about $28,000. Quarry LP increased its holdings in shares of Sterling Infrastructure by 107.7% in the first quarter. Quarry LP now owns 376 shares of the construction company's stock worth $43,000 after buying an additional 195 shares during the period. Finally, SBI Securities Co. Ltd. increased its holdings in shares of Sterling Infrastructure by 111.3% in 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 during the period. Hedge funds and other institutional investors own 80.95% of the company's stock.

Sterling Infrastructure Trading Down 0.8%

NASDAQ:STRL traded down $2.61 during mid-day trading on Friday, reaching $313.55. 388,963 shares of the company's stock traded hands, compared to its average volume of 386,003. Sterling Infrastructure, Inc. has a 12-month low of $96.34 and a 12-month high of $321.79. The firm has a market capitalization of $9.54 billion, a price-to-earnings ratio of 34.08, a PEG ratio of 2.32 and a beta of 1.35. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.42 and a quick ratio of 1.42. The company has a 50 day moving average price of $272.84 and a 200-day moving average price of $201.85.

Wall Street Analysts Forecast Growth

STRL has been the topic of several analyst reports. Wall Street Zen upgraded Sterling Infrastructure from a "buy" rating to a "strong-buy" rating in a report on Saturday. DA Davidson lifted their price objective on Sterling Infrastructure from $265.00 to $355.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Finally, Zacks Research upgraded 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. According to MarketBeat, the company currently has an average rating of "Buy" and an average price target of $355.00.

Insider Transactions at Sterling Infrastructure

In related news, 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 transaction, the director owned 16,498 shares in the company, valued at $3,408,156.84. The trade was a 38.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 value of $790,545.00. Following 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 ownership of the stock. The disclosure for this sale can be found here. 2.70% of the stock is owned by insiders.

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.