Avantax Advisory Services Inc. Has $499,000 Position in Sterling Infrastructure, Inc. (NASDAQ:STRL)

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. raised its position in Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 62.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Royce & Associates LP increased its stake in shares of Sterling Infrastructure by 56.8% in the first quarter. Royce & Associates LP now owns 94,193 shares of the construction company's stock valued at $10,664,000 after buying an additional 34,127 shares in the last quarter. Guardian Wealth Management Inc. grew its holdings in Sterling Infrastructure by 8.8% during the 1st quarter. Guardian Wealth Management Inc. now owns 50,050 shares of the construction company's stock worth $5,666,000 after acquiring an additional 4,050 shares during the last quarter. Burney Co. grew its holdings in Sterling Infrastructure by 9.8% during the 1st quarter. Burney Co. now owns 30,085 shares of the construction company's stock worth $3,406,000 after acquiring an additional 2,678 shares during the last quarter. Wedbush Securities Inc. increased its position in Sterling Infrastructure by 80.6% in the 1st quarter. Wedbush Securities Inc. now owns 2,715 shares of the construction company's stock valued at $307,000 after acquiring an additional 1,212 shares in the last quarter. Finally, KLP Kapitalforvaltning AS raised its stake in shares of Sterling Infrastructure by 28.6% in the first quarter. KLP Kapitalforvaltning AS now owns 8,100 shares of the construction company's stock worth $917,000 after acquiring an additional 1,800 shares during the last quarter. 80.95% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently commented on STRL shares. Wall Street Zen raised shares of Sterling Infrastructure from a "hold" rating to a "buy" rating in a research note on Saturday. DA Davidson upped their price objective on Sterling Infrastructure from $265.00 to $355.00 and gave the stock a "buy" rating in a report on Wednesday.

Sterling Infrastructure Trading Up 1.0%

NASDAQ:STRL traded up $3.05 on Friday, hitting $302.69. 317,044 shares of the stock were exchanged, compared to its average volume of 527,252. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.32 and a current ratio of 1.42. Sterling Infrastructure, Inc. has a 52 week low of $96.34 and a 52 week high of $321.79. The stock has a market capitalization of $9.21 billion, a price-to-earnings ratio of 32.90, a P/E/G ratio of 2.48 and a beta of 1.46. The company's 50-day moving average price is $236.73 and its 200 day moving average price is $175.80.

Insider Activity at Sterling Infrastructure

In other Sterling Infrastructure news, Director Dana C. O'brien sold 10,154 shares of the company's stock in a transaction on Monday, June 16th. The shares were 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 approximately $3,408,156.84. The trade was a 38.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Mark D. Wolf sold 3,500 shares of the stock in a transaction 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 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 position. The disclosure for this sale can be found here. 3.70% of the stock is owned by insiders.

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.