Sterling Infrastructure, Inc. $STRL Shares Bought by Intech Investment Management LLC

Key Points

• Intech Investment Management LLC increased its holdings in Sterling Infrastructure, Inc. by 47.4%, owning about 0.08% of the company, valued at approximately $2.9 million as of its latest SEC filing.
• Several large investors like Millennium Management LLC and Vanguard Group Inc. significantly boosted their stakes in Sterling Infrastructure, reflecting strong institutional interest as hedge funds own 80.95% of the company.
• Analysts have upgraded Sterling Infrastructure's rating, with Wall Street Zen changing it from "buy" to "strong-buy" and a raised consensus price target of $355.00.

Intech Investment Management LLC boosted its holdings in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 47.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,736 shares of the construction company's stock after buying an additional 8,281 shares during the period. Intech Investment Management LLC owned approximately 0.08% of Sterling Infrastructure worth $2,914,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in STRL. Millennium Management LLC grew its stake in Sterling Infrastructure by 743.9% during the 1st quarter. Millennium Management LLC now owns 493,393 shares of the construction company's stock valued at $55,857,000 after purchasing an additional 434,925 shares during the last quarter. Pacer Advisors Inc. purchased a new stake in shares of Sterling Infrastructure in the first quarter worth about $28,689,000. Nuveen LLC purchased a new stake in shares of Sterling Infrastructure in the first quarter worth about $19,741,000. Vanguard Group Inc. boosted its stake in shares of Sterling Infrastructure by 6.3% in the first quarter. Vanguard Group Inc. now owns 2,682,995 shares of the construction company's stock worth $303,742,000 after buying an additional 159,191 shares during the last quarter. Finally, GW&K Investment Management LLC boosted its stake in shares of Sterling Infrastructure by 37.7% in the first quarter. GW&K Investment Management LLC now owns 500,028 shares of the construction company's stock worth $56,608,000 after buying an additional 136,777 shares during the last quarter. Hedge funds and other institutional investors own 80.95% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on STRL. Wall Street Zen upgraded Sterling Infrastructure from a "buy" rating to a "strong-buy" rating in a research note on Saturday. DA Davidson upped their price target on Sterling Infrastructure from $265.00 to $355.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Finally, Zacks Research raised 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 stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $355.00.

Insider Activity at Sterling Infrastructure

In related news, General Counsel Mark D. Wolf sold 3,500 shares of Sterling Infrastructure stock in a transaction 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 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.70% of the stock is currently owned by corporate insiders.

Sterling Infrastructure Stock Performance

Shares of Sterling Infrastructure stock opened at $313.55 on Monday. Sterling Infrastructure, Inc. has a 52 week low of $96.34 and a 52 week high of $321.79. The business's fifty day simple moving average is $272.84 and its 200-day simple moving average is $201.85. The firm has a market cap of $9.54 billion, a PE ratio of 34.08, a price-to-earnings-growth ratio of 2.32 and a beta of 1.35. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.31.

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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