State of Alaska Department of Revenue Invests $4.17 Million in Sterling Infrastructure, Inc. $STRL

Key Points

• The State of Alaska Department of Revenue invested $4.17 million in Sterling Infrastructure, acquiring 18,083 shares, representing 0.06% of the company.
• Sterling Infrastructure has received positive ratings from analysts, with DA Davidson increasing its price target from $265 to $355, reflecting a strong buy sentiment.
• The company's stock has shown significant price movement, with a twelve-month high of $376.75 and a low of $96.34, while currently trading around $341.10.

State of Alaska Department of Revenue bought a new stake in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 18,083 shares of the construction company's stock, valued at approximately $4,172,000. State of Alaska Department of Revenue owned 0.06% of Sterling Infrastructure as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the business. Ieq Capital LLC lifted its holdings in shares of Sterling Infrastructure by 94.8% during the first quarter. Ieq Capital LLC now owns 8,144 shares of the construction company's stock worth $922,000 after buying an additional 3,963 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Sterling Infrastructure by 38.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 4,804 shares of the construction company's stock worth $544,000 after acquiring an additional 1,337 shares during the period. Envestnet Asset Management Inc. raised its stake in Sterling Infrastructure by 30.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 78,454 shares of the construction company's stock valued at $8,882,000 after purchasing an additional 18,254 shares during the last quarter. D.A. Davidson & CO. boosted 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 valued at $274,000 after purchasing an additional 116 shares during the period. Finally, Hudson Edge Investment Partners Inc. bought a new stake in Sterling Infrastructure in the 1st quarter valued at $823,000. 80.95% of the stock is owned by institutional investors.

Sterling Infrastructure Price Performance

Shares of Sterling Infrastructure stock opened at $341.10 on Tuesday. The firm has a market cap of $10.38 billion, a P/E ratio of 37.08, a price-to-earnings-growth ratio of 2.53 and a beta of 1.35. The firm's 50-day simple moving average is $295.42 and its 200-day simple moving average is $219.02. Sterling Infrastructure, Inc. has a twelve month low of $96.34 and a twelve month high of $376.75. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.42 and a current ratio of 1.42.

Wall Street Analysts Forecast Growth

STRL has been the topic of several research reports. DA Davidson boosted their price objective 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. Zacks Research upgraded Sterling Infrastructure from a "hold" rating to a "strong-buy" rating in a research note on Friday, September 5th. Finally, Wall Street Zen cut Sterling Infrastructure from a "strong-buy" rating to a "buy" rating in a report on Friday. One research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average 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.

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