OMERS ADMINISTRATION Corp Acquires 5,922 Shares of Sterling Infrastructure, Inc. $STRL

Key Points

• OMERS ADMINISTRATION Corp significantly increased its stake in Sterling Infrastructure, Inc. by 72.2%, owning 14,122 shares valued at approximately $1.6 million as of recent SEC filings.
• Several institutional investors have also adjusted their positions in Sterling Infrastructure, with 80.95% of the stock now owned by institutional investors.
• Analysts have a consensus rating of "Buy" on Sterling Infrastructure, with a price target increase to $355.00 from previous estimates.

OMERS ADMINISTRATION Corp lifted its holdings in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 72.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,122 shares of the construction company's stock after buying an additional 5,922 shares during the period. OMERS ADMINISTRATION Corp's holdings in Sterling Infrastructure were worth $1,599,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of STRL. Assetmark Inc. grew its position in shares of Sterling Infrastructure by 5.4% during the 1st quarter. Assetmark Inc. now owns 1,372 shares of the construction company's stock worth $155,000 after purchasing an additional 70 shares in the last quarter. Peterson Wealth Services grew its position in shares of Sterling Infrastructure by 2.1% during the 1st quarter. Peterson Wealth Services now owns 5,054 shares of the construction company's stock worth $572,000 after purchasing an additional 103 shares in the last quarter. D.A. Davidson & CO. grew its position in shares of Sterling Infrastructure by 5.0% during the 1st 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 in the last quarter. JT Stratford LLC grew its position in shares of Sterling Infrastructure by 1.0% during the 4th quarter. JT Stratford LLC now owns 12,465 shares of the construction company's stock worth $2,100,000 after purchasing an additional 121 shares in the last quarter. Finally, Xponance Inc. grew its position in shares of Sterling Infrastructure by 6.0% during the 1st quarter. Xponance Inc. now owns 2,272 shares of the construction company's stock worth $257,000 after purchasing an additional 128 shares in the last quarter. 80.95% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

STRL has been the topic of a number of analyst reports. Wall Street Zen lowered shares of Sterling Infrastructure from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 30th. DA Davidson increased their target price on shares of 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, According to MarketBeat.com, Sterling Infrastructure presently has a consensus rating of "Buy" and an average target price of $355.00.

Insider Buying and Selling

In other news, Director Dana C. O'brien sold 10,154 shares of the firm's stock in a transaction on 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 completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Mark D. Wolf sold 3,500 shares of the firm's stock in a transaction on 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 of the company's stock, valued at $6,621,379.05. The trade was a 10.67% decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.70% of the company's stock.

Sterling Infrastructure Price Performance

Sterling Infrastructure stock traded up $14.86 during mid-day trading on Thursday, reaching $288.68. The company had a trading volume of 497,179 shares, compared to its average volume of 646,096. Sterling Infrastructure, Inc. has a fifty-two week low of $96.34 and a fifty-two week high of $321.79. 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 company has a market cap of $8.78 billion, a P/E ratio of 31.38, a P/E/G ratio of 2.12 and a beta of 1.35. The business has a fifty day simple moving average of $263.58 and a 200 day simple moving average of $192.31.

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.