AQR Capital Management LLC Grows Position in Sterling Infrastructure, Inc. $STRL

Key Points

• AQR Capital Management LLC increased its stake in Sterling Infrastructure by 1.5%, owning 107,092 shares valued at approximately $12.1 million.
• Research analysts have given Sterling Infrastructure an average rating of "Buy"**, with Zacks raising their rating to "strong-buy" and an average target price of $355.
• Insider trading revealed significant sales, with Director Dana C. O'Brien selling 10,154 shares for over $2 million, leading to a 38.1% decline in his position.

AQR Capital Management LLC lifted its holdings in Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 1.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 107,092 shares of the construction company's stock after buying an additional 1,566 shares during the quarter. AQR Capital Management LLC owned approximately 0.35% of Sterling Infrastructure worth $12,124,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its position in Sterling Infrastructure by 6.3% during the 1st quarter. Vanguard Group Inc. now owns 2,682,995 shares of the construction company's stock valued at $303,742,000 after purchasing an additional 159,191 shares during the last quarter. Fuller & Thaler Asset Management Inc. boosted its holdings in shares of Sterling Infrastructure by 7.5% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 1,498,999 shares of the construction company's stock valued at $169,702,000 after acquiring an additional 105,222 shares during the last quarter. Congress Asset Management Co. boosted its holdings in shares of Sterling Infrastructure by 6.5% during the 1st quarter. Congress Asset Management Co. now owns 532,198 shares of the construction company's stock valued at $60,250,000 after acquiring an additional 32,255 shares during the last quarter. GW&K Investment Management LLC boosted its holdings in shares of Sterling Infrastructure by 37.7% during the 1st quarter. GW&K Investment Management LLC now owns 500,028 shares of the construction company's stock valued at $56,608,000 after acquiring an additional 136,777 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Sterling Infrastructure by 5.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 335,186 shares of the construction company's stock valued at $56,462,000 after acquiring an additional 17,768 shares during the last quarter. 80.95% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, 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 sale, the general counsel directly owned 29,315 shares of the company's stock, valued at $6,621,379.05. This represents a 10.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.70% of the stock is currently owned by company insiders.

Sterling Infrastructure Price Performance

Shares of NASDAQ STRL traded up $11.40 during midday trading on Monday, reaching $324.96. The stock had a trading volume of 65,064 shares, compared to its average volume of 635,302. The stock has a 50-day moving average of $272.84 and a 200-day moving average of $201.85. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.42 and a current ratio of 1.42. The company has a market capitalization of $9.89 billion, a price-to-earnings ratio of 35.41, a price-to-earnings-growth ratio of 2.32 and a beta of 1.35. Sterling Infrastructure, Inc. has a 12-month low of $96.34 and a 12-month high of $325.00.

Analysts Set New Price Targets

A number of analysts have recently issued reports on STRL shares. Wall Street Zen raised shares of Sterling Infrastructure from a "buy" rating to a "strong-buy" rating in a report on Saturday. DA Davidson raised their price target on shares of Sterling Infrastructure from $265.00 to $355.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Finally, Zacks Research raised shares of Sterling Infrastructure from a "hold" rating to a "strong-buy" rating in a report on Friday, September 5th. One research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $355.00.

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.