Stratos Wealth Partners LTD. Sells 1,317 Shares of Sterling Infrastructure, Inc. (NASDAQ:STRL)

Stratos Wealth Partners LTD. cut its stake in Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 2.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,941 shares of the construction company's stock after selling 1,317 shares during the period. Stratos Wealth Partners LTD. owned approximately 0.15% of Sterling Infrastructure worth $5,314,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in STRL. Wealth Enhancement Advisory Services LLC lifted its stake in Sterling Infrastructure by 38.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 4,804 shares of the construction company's stock valued at $544,000 after purchasing an additional 1,337 shares during the last quarter. Hudson Edge Investment Partners Inc. purchased a new stake in shares of Sterling Infrastructure in the 1st quarter valued at approximately $823,000. Sowell Financial Services LLC purchased a new stake in shares of Sterling Infrastructure in the 1st quarter valued at approximately $215,000. Oppenheimer Asset Management Inc. purchased a new stake in shares of Sterling Infrastructure in the 1st quarter valued at approximately $370,000. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Sterling Infrastructure in the 1st quarter valued at approximately $129,000. 80.95% of the stock is currently owned by institutional investors.

Sterling Infrastructure Stock Up 2.3%

STRL stock traded up $5.47 during midday trading on Friday, reaching $241.76. The company had a trading volume of 335,486 shares, compared to its average volume of 526,658. Sterling Infrastructure, Inc. has a 1 year low of $93.50 and a 1 year high of $242.23. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $7.35 billion, a P/E ratio of 28.24, a PEG ratio of 1.95 and a beta of 1.40. The company has a 50 day moving average of $204.46 and a two-hundred day moving average of $163.32.

Insiders Place Their Bets

In related news, 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 value of $790,545.00. Following the transaction, the general counsel directly 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 transaction was disclosed in a filing with the SEC, which is available through this link. Also, 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 in the company, valued at $3,408,156.84. The trade was a 38.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.70% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. DA Davidson upped their price target on shares of Sterling Infrastructure from $205.00 to $265.00 and gave the company a "buy" rating in a research report on Wednesday, June 18th. Wall Street Zen downgraded shares of Sterling Infrastructure from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th.

About Sterling Infrastructure

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.