Strs Ohio Invests $962,000 in Sterling Infrastructure, Inc. $STRL

Key Points

• Strs Ohio acquired 8,500 shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) in the first quarter, with a total investment of approximately $962,000.
• Institutional investors now hold 80.95% of Sterling Infrastructure's stock, with significant increases in holdings from firms like Sunbelt Securities and Versant Capital Management.
• Analysts have heightened their outlook on the company's stock, raising its price target from $265 to $355 and providing ratings of "buy" and "strong-buy."

Strs Ohio purchased a new position in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 8,500 shares of the construction company's stock, valued at approximately $962,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Sterling Infrastructure by 6.3% during the first quarter. Vanguard Group Inc. now owns 2,682,995 shares of the construction company's stock valued at $303,742,000 after purchasing an additional 159,191 shares during the last quarter. Fuller & Thaler Asset Management Inc. lifted its holdings in Sterling Infrastructure by 7.5% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 1,498,999 shares of the construction company's stock worth $169,702,000 after buying an additional 105,222 shares in the last quarter. Congress Asset Management Co. boosted its position in Sterling Infrastructure by 6.5% in the 1st quarter. Congress Asset Management Co. now owns 532,198 shares of the construction company's stock valued at $60,250,000 after buying an additional 32,255 shares during the last quarter. GW&K Investment Management LLC lifted its stake in shares of Sterling Infrastructure by 37.7% during the first quarter. GW&K Investment Management LLC now owns 500,028 shares of the construction company's stock valued at $56,608,000 after acquiring an additional 136,777 shares during the period. Finally, Millennium Management LLC boosted its holdings in Sterling Infrastructure by 743.9% in the first quarter. Millennium Management LLC now owns 493,393 shares of the construction company's stock valued at $55,857,000 after acquiring an additional 434,925 shares during the last quarter. Institutional investors and hedge funds own 80.95% of the company's stock.

Insider Buying and Selling

In other Sterling Infrastructure news, General Counsel Mark D. Wolf sold 3,500 shares of Sterling Infrastructure stock in a transaction dated Tuesday, June 24th. The stock was 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 approximately $6,621,379.05. The trade was a 10.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.70% of the company's stock.

Sterling Infrastructure Trading Up 2.0%

NASDAQ:STRL traded up $7.14 during trading hours on Monday, hitting $367.39. The stock had a trading volume of 491,353 shares, compared to its average volume of 479,599. The business's 50 day moving average is $285.29 and its 200-day moving average is $210.94. 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 market cap of $11.18 billion, a price-to-earnings ratio of 39.93, a P/E/G ratio of 2.67 and a beta of 1.35. Sterling Infrastructure, Inc. has a one year low of $96.34 and a one year high of $368.27.

Analysts Set New Price Targets

A number of research analysts have issued reports on STRL shares. Zacks Research upgraded shares of Sterling Infrastructure from a "hold" rating to a "strong-buy" rating in a research report on Friday, September 5th. DA Davidson increased their price objective on shares of Sterling Infrastructure from $265.00 to $355.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Finally, Wall Street Zen raised shares of Sterling Infrastructure from a "buy" rating to a "strong-buy" rating in a report on Saturday, September 13th. One equities research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. According to MarketBeat.com, the stock presently 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.