EFG Asset Management North America Corp. Has $4.06 Million Stock Position in Sterling Infrastructure, Inc. $STRL

Key Points

• EFG Asset Management North America Corp. reduced its stake in Sterling Infrastructure, Inc. by 3.2%, holding 35,846 shares valued at approximately $4.06 million.
• Institutional investors now own 80.95% of Sterling Infrastructure's stock, with significant stakes added by Pacer Advisors Inc. and Vanguard Group Inc. in the first quarter.
• Analysts have raised the target price for Sterling Infrastructure's shares to $355.00, with several firms maintaining a "buy" rating on the stock.

EFG Asset Management North America Corp. lowered its stake in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 3.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 35,846 shares of the construction company's stock after selling 1,169 shares during the period. EFG Asset Management North America Corp. owned approximately 0.12% of Sterling Infrastructure worth $4,057,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in STRL. Sunbelt Securities Inc. boosted its holdings in Sterling Infrastructure by 689.7% during the first quarter. Sunbelt Securities Inc. now owns 229 shares of the construction company's stock worth $26,000 after buying an additional 200 shares during the last quarter. Versant Capital Management Inc boosted its holdings in Sterling Infrastructure by 355.8% during the first quarter. Versant Capital Management Inc now owns 237 shares of the construction company's stock worth $27,000 after buying an additional 185 shares during the last quarter. Opal Wealth Advisors LLC acquired a new stake in shares of Sterling Infrastructure during the first quarter worth about $28,000. Quarry LP raised its position in shares of Sterling Infrastructure by 107.7% during the first quarter. Quarry LP now owns 376 shares of the construction company's stock worth $43,000 after purchasing an additional 195 shares during the period. Finally, SBI Securities Co. Ltd. raised its position in shares of Sterling Infrastructure by 111.3% during the first quarter. SBI Securities Co. Ltd. now owns 488 shares of the construction company's stock worth $55,000 after purchasing an additional 257 shares during the period. Institutional investors own 80.95% of the company's stock.

Sterling Infrastructure Stock Down 0.9%

Sterling Infrastructure stock traded down $2.70 during midday trading on Friday, reaching $285.98. The stock had a trading volume of 498,723 shares, compared to its average volume of 421,708. The firm's fifty day simple moving average is $265.87 and its 200-day simple moving average is $194.93. Sterling Infrastructure, Inc. has a 1-year low of $96.34 and a 1-year high of $321.79. The stock has a market capitalization of $8.70 billion, a P/E ratio of 31.08, a price-to-earnings-growth ratio of 2.12 and a beta of 1.35. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.42 and a current ratio of 1.42.

Analyst Ratings Changes

A number of research firms have recently commented on STRL. Wall Street Zen lowered Sterling Infrastructure from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 30th. DA Davidson raised their price target on Sterling Infrastructure from $265.00 to $355.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $355.00.

Insider Buying and Selling

In related news, Director Dana C. O'brien sold 10,154 shares of Sterling Infrastructure stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $206.58, for a total value of $2,097,613.32. Following the sale, the director owned 16,498 shares of the company's stock, valued at approximately $3,408,156.84. This trade represents a 38.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Mark D. Wolf sold 3,500 shares of Sterling Infrastructure 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 sale, the general counsel directly owned 29,315 shares in the company, valued at approximately $6,621,379.05. This represents a 10.67% decrease in their position. The disclosure for this sale can be found here. 3.70% of the stock is currently 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.