Summit Global Investments Makes New Investment in Sterling Infrastructure, Inc. (NASDAQ:STRL)

Summit Global Investments purchased a new stake in Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 8,416 shares of the construction company's stock, valued at approximately $953,000.

Other large investors also recently made changes to their positions in the company. SBI Securities Co. Ltd. acquired a new stake in shares of Sterling Infrastructure in the fourth quarter valued at approximately $39,000. Versant Capital Management Inc increased its stake in shares of Sterling Infrastructure by 355.8% in the first quarter. Versant Capital Management Inc now owns 237 shares of the construction company's stock valued at $27,000 after purchasing an additional 185 shares during the period. Huntington National Bank increased its stake in shares of Sterling Infrastructure by 34.6% in the fourth quarter. Huntington National Bank now owns 288 shares of the construction company's stock valued at $49,000 after purchasing an additional 74 shares during the period. National Bank of Canada FI acquired a new stake in shares of Sterling Infrastructure in the fourth quarter valued at approximately $56,000. Finally, Arcadia Investment Management Corp MI acquired a new stake in shares of Sterling Infrastructure in the fourth quarter valued at approximately $71,000. Institutional investors and hedge funds own 80.95% of the company's stock.

Sterling Infrastructure Price Performance

Shares of NASDAQ STRL traded down $0.15 during mid-day trading on Wednesday, reaching $194.08. 106,930 shares of the company traded hands, compared to its average volume of 500,628. Sterling Infrastructure, Inc. has a fifty-two week low of $93.50 and a fifty-two week high of $206.07. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.29 and a quick ratio of 1.29. The firm has a market cap of $5.90 billion, a PE ratio of 32.78, a price-to-earnings-growth ratio of 1.28 and a beta of 1.27. The stock has a fifty day simple moving average of $155.57 and a 200-day simple moving average of $156.76.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. DA Davidson upgraded shares of Sterling Infrastructure from a "neutral" rating to a "buy" rating and set a $185.00 price target on the stock in a research note on Thursday, February 27th. Wall Street Zen upgraded shares of Sterling Infrastructure from a "hold" rating to a "buy" rating in a research note on Thursday, May 22nd.

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.