Sterling Infrastructure, Inc. (NASDAQ:STRL) Shares Acquired by Avantax Advisory Services Inc.

Key Points

• Avantax Advisory Services Inc. has increased its stake in Sterling Infrastructure, Inc. by 62.6% during the 1st quarter, now owning 4,406 shares valued at approximately $499,000.
• Other institutional investors, including Sunbelt Securities Inc. and Versant Capital Management Inc., have also significantly increased their holdings in Sterling Infrastructure, highlighting strong institutional interest in the company.
• Analysts have recently adjusted their ratings on Sterling Infrastructure, with Wall Street Zen downgrading it from a "buy" to a "hold" rating, while DA Davidson raised its price target from $205 to $265.

Avantax Advisory Services Inc. increased its position in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 62.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,406 shares of the construction company's stock after buying an additional 1,697 shares during the period. Avantax Advisory Services Inc.'s holdings in Sterling Infrastructure were worth $499,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in STRL. Sunbelt Securities Inc. grew its holdings in Sterling Infrastructure by 689.7% during the 1st quarter. Sunbelt Securities Inc. now owns 229 shares of the construction company's stock worth $26,000 after acquiring an additional 200 shares in the last quarter. Versant Capital Management Inc raised its stake in shares of Sterling Infrastructure by 355.8% in the 1st quarter. Versant Capital Management Inc now owns 237 shares of the construction company's stock valued at $27,000 after purchasing an additional 185 shares in the last quarter. Opal Wealth Advisors LLC bought a new position in shares of Sterling Infrastructure during the first quarter worth about $28,000. Huntington National Bank grew its stake in Sterling Infrastructure by 34.6% in the fourth quarter. Huntington National Bank now owns 288 shares of the construction company's stock worth $49,000 after purchasing an additional 74 shares in the last quarter. Finally, SBI Securities Co. Ltd. grew its stake in 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 purchasing an additional 257 shares in the last quarter. Institutional investors and hedge funds own 80.95% of the company's stock.

Insider Buying and Selling

In related news, Director Dana C. O'brien sold 10,154 shares of the stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $206.58, for a total value of $2,097,613.32. Following the completion of the sale, the director directly owned 16,498 shares of the company's stock, valued at approximately $3,408,156.84. This represents a 38.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Mark D. Wolf sold 3,500 shares of the business's 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 completion of the sale, the general counsel directly owned 29,315 shares of the company's stock, valued at approximately $6,621,379.05. The trade was a 10.67% decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.70% of the company's stock.

Sterling Infrastructure Price Performance

NASDAQ:STRL opened at $296.58 on Wednesday. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.34. The business's 50-day moving average price is $229.94 and its 200 day moving average price is $173.39. Sterling Infrastructure, Inc. has a 52-week low of $96.34 and a 52-week high of $321.79. The firm has a market cap of $9.02 billion, a P/E ratio of 32.24, a PEG ratio of 2.25 and a beta of 1.46.

Analyst Ratings Changes

Several analysts have weighed in on STRL shares. Wall Street Zen lowered shares of Sterling Infrastructure from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. DA Davidson lifted their price target 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.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.