Raymond James Financial Inc. Acquires 12,046 Shares of Sterling Infrastructure, Inc. $STRL

Key Points

• Raymond James Financial Inc. increased its stake in Sterling Infrastructure, Inc. ($STRL) by 12.1% during Q1, resulting in ownership of 111,254 shares valued at approximately $12.6 million.
• Other institutional investors, such as Northern Trust Corp and AXA S.A., also boosted their positions, indicating strong institutional support with 80.95% of the company's stock owned by institutional investors overall.
• Analysts have mixed views on the stock, with one lowering its rating from "strong-buy" to "buy," while another raised the price target from $265 to $355.

Raymond James Financial Inc. raised its position in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 12.1% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 111,254 shares of the construction company's stock after acquiring an additional 12,046 shares during the period. Raymond James Financial Inc. owned approximately 0.37% of Sterling Infrastructure worth $12,595,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Alliance Wealth Advisors LLC UT increased its position in Sterling Infrastructure by 5.5% during the first quarter. Alliance Wealth Advisors LLC UT now owns 5,919 shares of the construction company's stock valued at $670,000 after acquiring an additional 306 shares during the last quarter. Boston Partners increased its position in Sterling Infrastructure by 42.8% during the first quarter. Boston Partners now owns 260,947 shares of the construction company's stock valued at $30,308,000 after acquiring an additional 78,215 shares during the last quarter. Crown Advisors Management Inc. bought a new position in Sterling Infrastructure during the first quarter valued at $1,132,000. Arrowpoint Investment Partners Singapore Pte. Ltd. increased its position in Sterling Infrastructure by 300.0% during the first quarter. Arrowpoint Investment Partners Singapore Pte. Ltd. now owns 2,200 shares of the construction company's stock valued at $249,000 after acquiring an additional 1,650 shares during the last quarter. Finally, Nuveen LLC bought a new position in Sterling Infrastructure during the first quarter valued at $19,741,000. Institutional investors own 80.95% of the company's stock.

Insider Transactions at Sterling Infrastructure

In other Sterling Infrastructure news, General Counsel Mark D. Wolf sold 3,500 shares of the stock in a transaction dated 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 directly owned 29,315 shares in the company, valued at $6,621,379.05. This represents a 10.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Dana C. O'brien sold 10,154 shares of the firm's stock in a transaction dated Monday, June 16th. The shares were 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. This trade represents a 38.10% decrease in their position. The disclosure for this sale can be found here. 2.70% of the stock is owned by corporate insiders.

Sterling Infrastructure Trading Down 0.6%

Shares of NASDAQ STRL traded down $1.62 during mid-day trading on Tuesday, reaching $276.91. The company had a trading volume of 378,593 shares, compared to its average volume of 648,299. The business's 50-day moving average is $261.65 and its 200-day moving average is $191.15. 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 stock has a market cap of $8.42 billion, a price-to-earnings ratio of 30.10, a price-to-earnings-growth ratio of 2.12 and a beta of 1.35. Sterling Infrastructure, Inc. has a 52 week low of $96.34 and a 52 week high of $321.79.

Analyst Ratings Changes

STRL has been the topic of a number of analyst reports. Wall Street Zen cut shares of Sterling Infrastructure from a "strong-buy" rating to a "buy" rating in a research report on Saturday. DA Davidson upped their price target 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. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $355.00.

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.