Sterling Infrastructure, Inc. $STRL Shares Sold by Elevation Wealth Partners LLC

Key Points

• Elevation Wealth Partners LLC reduced its holdings of Sterling Infrastructure by 20.5% in the second quarter, now owning 4,529 shares worth approximately $1,045,000.
• Institutional investors collectively own 80.95% of Sterling Infrastructure, with several firms such as Ieq Capital LLC and Envestnet Asset Management significantly increasing their stakes.
• Sterling Infrastructure received upgrades from analysts, with Zacks raising its rating to "strong-buy" and DA Davidson increasing the price target from $265 to $355.

Elevation Wealth Partners LLC lessened its holdings in Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 20.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,529 shares of the construction company's stock after selling 1,169 shares during the quarter. Elevation Wealth Partners LLC's holdings in Sterling Infrastructure were worth $1,045,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Ieq Capital LLC raised its stake in shares of Sterling Infrastructure by 94.8% in the first quarter. Ieq Capital LLC now owns 8,144 shares of the construction company's stock worth $922,000 after purchasing an additional 3,963 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Sterling Infrastructure by 38.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 4,804 shares of the construction company's stock worth $544,000 after purchasing an additional 1,337 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Sterling Infrastructure by 30.3% in the first quarter. Envestnet Asset Management Inc. now owns 78,454 shares of the construction company's stock worth $8,882,000 after purchasing an additional 18,254 shares during the last quarter. D.A. Davidson & CO. raised its stake in shares of Sterling Infrastructure by 5.0% in the first quarter. D.A. Davidson & CO. now owns 2,424 shares of the construction company's stock worth $274,000 after purchasing an additional 116 shares during the last quarter. Finally, Hudson Edge Investment Partners Inc. purchased a new position in shares of Sterling Infrastructure in the first quarter worth about $823,000. Institutional investors and hedge funds own 80.95% of the company's stock.

Sterling Infrastructure Trading Down 0.8%

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

Analyst Ratings Changes

STRL has been the subject of several recent research reports. Zacks Research upgraded Sterling Infrastructure from a "hold" rating to a "strong-buy" rating in a research report on Friday, September 5th. DA Davidson lifted their price target on Sterling Infrastructure from $265.00 to $355.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Finally, Wall Street Zen raised Sterling Infrastructure from a "buy" rating to a "strong-buy" rating in a research note on Saturday. One investment analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $355.00.

Insider Activity

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 completion of the transaction, the general counsel directly owned 29,315 shares in the company, valued at $6,621,379.05. The trade was a 10.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 2.70% of the company's stock.

About Sterling Infrastructure

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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