Sterling Infrastructure, Inc. $STRL Position Trimmed by E. Ohman J or Asset Management AB

Key Points

• E. Ohman J or Asset Management AB reduced its stake in Sterling Infrastructure by 10% in Q2, leaving them with 13,113 shares valued at approximately $3 million.
• Other institutional investors, including Millennium Management LLC and Pacer Advisors Inc., significantly increased their positions, with Millennium growing its stake by 743.9% to own 493,393 shares worth about $55.9 million.
• Analysts are optimistic, with DA Davidson raising its target price for Sterling Infrastructure shares from $265 to $355 and giving it a "buy" rating, while Zacks upgraded their rating to "strong-buy."

E. Ohman J or Asset Management AB lowered its stake in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 10.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,113 shares of the construction company's stock after selling 1,464 shares during the quarter. E. Ohman J or Asset Management AB's holdings in Sterling Infrastructure were worth $3,026,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the business. Amanah Holdings Trust purchased a new stake in Sterling Infrastructure in the 2nd quarter valued at approximately $44,527,000. GK Wealth Management LLC purchased a new stake in Sterling Infrastructure in the 2nd quarter valued at approximately $201,000. Wealth Alliance Advisory Group LLC purchased a new stake in Sterling Infrastructure in the 2nd quarter valued at approximately $388,000. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in Sterling Infrastructure by 3,838.2% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,339 shares of the construction company's stock valued at $309,000 after purchasing an additional 1,305 shares in the last quarter. Finally, Douglas Lane & Associates LLC purchased a new stake in Sterling Infrastructure in the 2nd quarter valued at approximately $369,000. Hedge funds and other institutional investors own 80.95% of the company's stock.

Sterling Infrastructure Stock Performance

NASDAQ STRL traded up $11.67 on Friday, hitting $360.25. The stock had a trading volume of 2,093,500 shares, compared to its average volume of 399,630. Sterling Infrastructure, Inc. has a one year low of $96.34 and a one year high of $363.08. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.31. The stock has a market cap of $10.96 billion, a price-to-earnings ratio of 39.16, a P/E/G ratio of 2.58 and a beta of 1.35. The company's 50-day moving average is $282.77 and its two-hundred day moving average is $208.04.

Analyst Ratings Changes

A number of research firms have recently issued reports on STRL. Wall Street Zen upgraded shares of Sterling Infrastructure from a "buy" rating to a "strong-buy" rating in a research report on Saturday, September 13th. DA Davidson lifted their price target on shares of Sterling Infrastructure from $265.00 to $355.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Finally, Zacks Research upgraded shares of Sterling Infrastructure from a "hold" rating to a "strong-buy" rating in a research report on Friday, September 5th. One research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $355.00.

Insider Activity

In other news, General Counsel Mark D. Wolf sold 3,500 shares of the stock in a transaction that occurred 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 transaction, the general counsel directly owned 29,315 shares in the company, valued at $6,621,379.05. This trade represents a 10.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 3.70% of the stock is owned by company insiders.

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.