Sterling Infrastructure, Inc. (NASDAQ:STRL) Shares Sold by Elm3 Financial Group LLC

Elm3 Financial Group LLC cut its stake in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 21.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,801 shares of the construction company's stock after selling 1,020 shares during the period. Elm3 Financial Group LLC's holdings in Sterling Infrastructure were worth $430,000 as of its most recent SEC filing.

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

Insiders Place Their Bets

In other Sterling Infrastructure news, General Counsel Mark D. Wolf sold 3,500 shares of Sterling Infrastructure 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 transaction, the general counsel directly owned 29,315 shares of the company's stock, valued at $6,621,379.05. The trade was a 10.67% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Dana C. O'brien sold 10,154 shares of the business's stock in a transaction on 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 transaction, the director directly owned 16,498 shares in the company, valued at approximately $3,408,156.84. This represents a 38.10% decrease in their position. The disclosure for this sale can be found here. Insiders own 2.70% of the company's stock.

Sterling Infrastructure Trading Up 3.7%

Shares of STRL stock opened at $250.94 on Wednesday. The stock has a market capitalization of $7.63 billion, a P/E ratio of 29.35, a P/E/G ratio of 2.05 and a beta of 1.40. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.34. Sterling Infrastructure, Inc. has a 12-month low of $93.50 and a 12-month high of $255.59. The firm's 50 day moving average is $212.74 and its 200 day moving average is $166.27.

Analysts Set New Price Targets

A number of equities research analysts have commented on STRL shares. DA Davidson raised their target price on shares of Sterling Infrastructure from $205.00 to $265.00 and gave the stock a "buy" rating in a research note on Wednesday, June 18th. Wall Street Zen downgraded Sterling Infrastructure from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th.

Sterling Infrastructure 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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