Ieq Capital LLC Buys 3,963 Shares of Sterling Infrastructure, Inc. $STRL

Key Points

• Ieq Capital LLC increased its stake in Sterling Infrastructure, Inc. by 94.8%, acquiring a total of 8,144 shares valued at $922,000 during the first quarter.
• Institutional investors hold 80.95% of Sterling Infrastructure's stock, highlighting significant institutional interest in the company.
• Analysts recently adjusted their ratings on Sterling Infrastructure, with DA Davidson raising the price target from $265 to $355, while Wall Street Zen downgraded it from "strong-buy" to "buy."

Ieq Capital LLC boosted its stake in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 94.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,144 shares of the construction company's stock after acquiring an additional 3,963 shares during the quarter. Ieq Capital LLC's holdings in Sterling Infrastructure were worth $922,000 as of its most recent SEC filing.

A number of other hedge funds 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 during 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 bought a new stake in Sterling Infrastructure during the 1st quarter worth about $28,000. SBI Securities Co. Ltd. grew its holdings in Sterling Infrastructure by 111.3% during the 1st 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 last quarter. Finally, AlphaQuest LLC grew its holdings in Sterling Infrastructure by 49.6% during the 1st quarter. AlphaQuest LLC now owns 549 shares of the construction company's stock worth $62,000 after acquiring an additional 182 shares during the last quarter. Institutional investors own 80.95% of the company's stock.

Insider Activity at Sterling Infrastructure

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

Wall Street Analysts Forecast Growth

A number of brokerages have commented on STRL. DA Davidson increased their price objective on shares of Sterling Infrastructure from $265.00 to $355.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Wall Street Zen lowered shares of Sterling Infrastructure from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 30th. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $355.00.

Sterling Infrastructure Trading Down 0.9%

Shares of NASDAQ STRL traded down $2.70 during mid-day trading on Friday, hitting $285.98. The company's stock had a trading volume of 498,723 shares, compared to its average volume of 421,708. The stock has a market cap of $8.70 billion, a price-to-earnings ratio of 31.08, a price-to-earnings-growth ratio of 2.14 and a beta of 1.35. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.42 and a quick ratio of 1.42. Sterling Infrastructure, Inc. has a one year low of $96.34 and a one year high of $321.79. The company's fifty day simple moving average is $265.87 and its 200-day simple moving average is $194.46.

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.