Thurston Springer Miller Herd & Titak Inc. Acquires 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. increased its position in Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 3,838.2% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,339 shares of the construction company's stock after acquiring 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 SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Sunbelt Securities Inc. increased its holdings in Sterling Infrastructure by 689.7% in the 1st quarter. Sunbelt Securities Inc. now owns 229 shares of the construction company's stock worth $26,000 after acquiring an additional 200 shares during the last quarter. Versant Capital Management Inc increased its holdings in Sterling Infrastructure by 355.8% in the 1st quarter. Versant Capital Management Inc now owns 237 shares of the construction company's stock worth $27,000 after acquiring an additional 185 shares during the last quarter. Opal Wealth Advisors LLC purchased a new position in Sterling Infrastructure during the 1st quarter valued at about $28,000. Quarry LP grew its holdings in Sterling Infrastructure by 107.7% during the 1st quarter. Quarry LP now owns 376 shares of the construction company's stock valued at $43,000 after buying an additional 195 shares in the last quarter. Finally, SBI Securities Co. Ltd. grew its holdings in Sterling Infrastructure by 111.3% during the 1st quarter. SBI Securities Co. Ltd. now owns 488 shares of the construction company's stock valued at $55,000 after buying an additional 257 shares in the last quarter. Hedge funds and other institutional investors own 80.95% of the company's stock.

Sterling Infrastructure Stock Up 3.3%

STRL stock traded up $11.67 during midday trading on Friday, hitting $360.25. The stock had a trading volume of 2,093,500 shares, compared to its average volume of 399,630. The firm has a market cap of $10.96 billion, a price-to-earnings ratio of 39.16, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. The business has a 50-day moving average of $282.77 and a two-hundred day moving average of $208.04. Sterling Infrastructure, Inc. has a 52-week low of $96.34 and a 52-week high of $363.08. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.42 and a quick ratio of 1.42.

Insiders Place Their Bets

In related news, General Counsel Mark D. Wolf sold 3,500 shares of the company's stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $225.87, for a total value of $790,545.00. Following the sale, the general counsel directly owned 29,315 shares of the company's stock, valued at $6,621,379.05. This represents a 10.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.70% of the stock is currently owned by insiders.

Analyst Ratings Changes

STRL has been the subject of a number of recent analyst reports. Wall Street Zen raised Sterling Infrastructure from a "buy" rating to a "strong-buy" rating in a report on Saturday, September 13th. Zacks Research upgraded Sterling Infrastructure from a "hold" rating to a "strong-buy" rating in a research report on Friday, September 5th. Finally, DA Davidson lifted their price target on Sterling Infrastructure from $265.00 to $355.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. 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 company currently has a consensus rating of "Buy" and a consensus price target of $355.00.

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.