Meeder Asset Management Inc. Purchases 10,388 Shares of Sterling Infrastructure, Inc. (NASDAQ:STRL)

Key Points

• Meeder Asset Management Inc. increased its stake in Sterling Infrastructure, Inc. by 134.0%, owning 18,140 shares valued at approximately $2.05 million as of the latest SEC filing.
• Other institutional investors, including Vanguard Group and JPMorgan Chase, also raised their stakes significantly during the fourth quarter, indicating strong interest in the company.
• Sterling Infrastructure's stock has seen a significant price range, with a 1-year low of $93.50 and a 1-year high of $270.38, reflecting volatility and investor interest.

Meeder Asset Management Inc. raised its stake in Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 134.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 18,140 shares of the construction company's stock after buying an additional 10,388 shares during the period. Meeder Asset Management Inc. owned approximately 0.06% of Sterling Infrastructure worth $2,054,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of STRL. Sunbelt Securities Inc. grew its position in Sterling Infrastructure by 689.7% during the first quarter. Sunbelt Securities Inc. now owns 229 shares of the construction company's stock valued at $26,000 after purchasing an additional 200 shares in the last quarter. Versant Capital Management Inc grew its stake in 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 buying an additional 185 shares during the last quarter. Opal Wealth Advisors LLC bought a new position in shares of Sterling Infrastructure in the first quarter worth about $28,000. Huntington National Bank increased its position in Sterling Infrastructure by 34.6% in the 4th quarter. Huntington National Bank now owns 288 shares of the construction company's stock worth $49,000 after buying an additional 74 shares during the period. Finally, SBI Securities Co. Ltd. increased its position in 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 acquiring an additional 257 shares during the period. 80.95% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Sterling Infrastructure

In other Sterling Infrastructure news, General Counsel Mark D. Wolf sold 3,500 shares of the company's stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $225.87, for a total value of $790,545.00. Following the sale, the general counsel owned 29,315 shares in the company, valued at $6,621,379.05. This represents a 10.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Dana C. O'brien sold 10,154 shares of the firm's stock in a transaction that occurred on 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 sale, the director owned 16,498 shares of the company's stock, valued at $3,408,156.84. This trade represents a 38.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.70% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently commented on STRL shares. DA Davidson raised their target price on Sterling Infrastructure from $205.00 to $265.00 and gave the stock a "buy" rating in a research report on Wednesday, June 18th. Wall Street Zen cut Sterling Infrastructure from a "buy" rating to a "hold" rating in a report on Saturday, July 5th.

Sterling Infrastructure Trading Down 1.7%

STRL traded down $4.57 during mid-day trading on Friday, hitting $263.02. The stock had a trading volume of 592,385 shares, compared to its average volume of 666,197. The stock's fifty day simple moving average is $222.81 and its 200-day simple moving average is $170.63. The firm has a market capitalization of $8.00 billion, a price-to-earnings ratio of 30.74, a price-to-earnings-growth ratio of 2.18 and a beta of 1.40. Sterling Infrastructure, Inc. has a 1-year low of $93.50 and a 1-year high of $270.38. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.32 and a quick ratio of 1.32.

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.