Triumph Capital Management Makes New Investment in Sterling Infrastructure, Inc. $STRL

Key Points

• Triumph Capital Management has acquired a new stake in Sterling Infrastructure, Inc., purchasing 2,152 shares valued at approximately $497,000 during the second quarter.
• A number of analysts have provided a positive outlook for Sterling Infrastructure, with DA Davidson raising its price target from $265 to $355 and Zacks upgrading the stock to a "strong-buy" rating.
• In related insider trading news, General Counsel Mark D. Wolf sold 3,500 shares of Sterling Infrastructure, representing a 10.67% decrease in his ownership of the stock.

Triumph Capital Management bought a new stake in Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,152 shares of the construction company's stock, valued at approximately $497,000.

Several other hedge funds and other institutional investors have also modified their holdings of STRL. Ieq Capital LLC grew 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 worth $922,000 after buying an additional 3,963 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Sterling Infrastructure by 38.6% during the 1st 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. grew its holdings in shares of Sterling Infrastructure by 30.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 78,454 shares of the construction company's stock valued at $8,882,000 after buying an additional 18,254 shares during the period. D.A. Davidson & CO. grew its holdings in shares of Sterling Infrastructure by 5.0% in the 1st quarter. D.A. Davidson & CO. now owns 2,424 shares of the construction company's stock valued at $274,000 after buying an additional 116 shares during the period. Finally, Hudson Edge Investment Partners Inc. acquired a new position in shares of Sterling Infrastructure in the 1st quarter valued at $823,000. 80.95% of the stock is currently owned by hedge funds and other institutional investors.

Sterling Infrastructure Stock Up 3.3%

Shares of STRL traded up $11.67 during trading hours on Friday, reaching $360.25. 2,093,500 shares of the stock traded hands, compared to its average volume of 399,630. The company has a market cap of $10.96 billion, a price-to-earnings ratio of 39.16, a PEG ratio of 2.67 and a beta of 1.35. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.31. Sterling Infrastructure, Inc. has a 52 week low of $96.34 and a 52 week high of $363.08. The stock has a fifty day simple moving average of $282.77 and a 200 day simple moving average of $208.59.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on STRL. DA Davidson upped their target price 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. Zacks Research upgraded shares of Sterling Infrastructure from a "hold" rating to a "strong-buy" rating in a research report on Friday, September 5th. Finally, Wall Street Zen upgraded shares of Sterling Infrastructure from a "buy" rating to a "strong-buy" rating in a research report on Saturday, September 13th. One investment analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company. According to MarketBeat, the company presently has an average rating of "Buy" and an average target price of $355.00.

Insiders Place Their Bets

In related news, General Counsel Mark D. Wolf sold 3,500 shares of the company's stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $225.87, for a total transaction of $790,545.00. Following the sale, the general counsel owned 29,315 shares of the company's stock, valued at approximately $6,621,379.05. This represents a 10.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 3.70% of the company's stock.

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.