Sterling Infrastructure, Inc. $STRL Stock Holdings Reduced 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 cut its position in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 10.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,113 shares of the construction company's stock after selling 1,464 shares during the period. E. Ohman J or Asset Management AB's holdings in Sterling Infrastructure were worth $3,026,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Millennium Management LLC grew its position in Sterling Infrastructure by 743.9% in the first quarter. Millennium Management LLC now owns 493,393 shares of the construction company's stock worth $55,857,000 after acquiring an additional 434,925 shares in the last quarter. Pacer Advisors Inc. bought a new stake in Sterling Infrastructure during the first quarter worth approximately $28,689,000. Amanah Holdings Trust acquired a new position in Sterling Infrastructure during the second quarter valued at approximately $44,527,000. Nuveen LLC bought a new position in shares of Sterling Infrastructure in the first quarter valued at approximately $19,741,000. Finally, Vanguard Group Inc. lifted 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. 80.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Sterling Infrastructure Stock Up 3.0%

Shares of STRL opened at $322.90 on Tuesday. 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 50-day simple moving average of $274.55 and a 200-day simple moving average of $203.22. Sterling Infrastructure, Inc. has a 52 week low of $96.34 and a 52 week high of $326.82. The firm has a market capitalization of $9.82 billion, a P/E ratio of 35.10, a P/E/G ratio of 2.32 and a beta of 1.35.

Insider Buying and Selling

In other Sterling Infrastructure news, General Counsel Mark D. Wolf sold 3,500 shares of the firm's 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 sale, the general counsel owned 29,315 shares in the company, valued at approximately $6,621,379.05. This trade represents a 10.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.70% of the stock is currently owned by company insiders.

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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