Thurston Springer Miller Herd & Titak Inc. Buys 1,305 Shares of Sterling Infrastructure, Inc. $STRL

Key Points

• Thurston Springer Miller Herd & Titak Inc. increased its stake in Sterling Infrastructure by 3,838.2%, acquiring an additional 1,305 shares, which brought their total holdings to 1,339 shares valued at $309,000.
• Institutional ownership in Sterling Infrastructure is high, with hedge funds and other investors owning approximately 80.95% of the company’s stock.
• Brokerage firm DA Davidson upgraded Sterling Infrastructure's price target from $265.00 to $355.00, with the stock currently holding a consensus rating of "Buy."

Thurston Springer Miller Herd & Titak Inc. lifted its holdings in Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 3,838.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,339 shares of the construction company's stock after purchasing an additional 1,305 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.'s holdings in Sterling Infrastructure were worth $309,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the business. Ieq Capital LLC increased its position in Sterling Infrastructure by 94.8% during the first quarter. Ieq Capital LLC now owns 8,144 shares of the construction company's stock valued at $922,000 after acquiring an additional 3,963 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Sterling Infrastructure by 38.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 4,804 shares of the construction company's stock worth $544,000 after acquiring an additional 1,337 shares during the period. Envestnet Asset Management Inc. boosted its stake in shares of Sterling Infrastructure by 30.3% in the first quarter. Envestnet Asset Management Inc. now owns 78,454 shares of the construction company's stock worth $8,882,000 after acquiring an additional 18,254 shares during the period. D.A. Davidson & CO. boosted its stake in shares of Sterling Infrastructure by 5.0% in the first quarter. D.A. Davidson & CO. now owns 2,424 shares of the construction company's stock worth $274,000 after acquiring an additional 116 shares during the period. Finally, Hudson Edge Investment Partners Inc. bought a new position in Sterling Infrastructure during the first quarter valued at approximately $823,000. Hedge funds and other institutional investors own 80.95% of the company's stock.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Sterling Infrastructure

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 completion of the transaction, the general counsel 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 accessible through this link. Insiders own 2.70% of the company's stock.

Sterling Infrastructure Stock Performance

Shares of STRL stock opened at $322.90 on Tuesday. The firm has a market capitalization of $9.82 billion, a price-to-earnings ratio of 35.10, a price-to-earnings-growth ratio of 2.32 and a beta of 1.35. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.42 and a quick ratio of 1.42. The business has a fifty day moving average of $274.55 and a 200 day moving average of $203.22. Sterling Infrastructure, Inc. has a 1 year low of $96.34 and a 1 year high of $326.82.

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.

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