Triumph Capital Management Takes $497,000 Position 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) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,152 shares of the construction company's stock, valued at approximately $497,000.

A number of other institutional investors have also modified their holdings of the stock. Assetmark Inc. increased its holdings in shares of Sterling Infrastructure by 5.4% in the first quarter. Assetmark Inc. now owns 1,372 shares of the construction company's stock valued at $155,000 after purchasing an additional 70 shares during the period. Peterson Wealth Services boosted its stake in shares of Sterling Infrastructure by 2.1% in the first quarter. Peterson Wealth Services now owns 5,054 shares of the construction company's stock valued at $572,000 after buying an additional 103 shares in the last quarter. 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 valued at $274,000 after buying an additional 116 shares in the last quarter. JT Stratford LLC boosted its stake in shares of Sterling Infrastructure by 1.0% in the fourth quarter. JT Stratford LLC now owns 12,465 shares of the construction company's stock valued at $2,100,000 after buying an additional 121 shares in the last quarter. Finally, Xponance Inc. boosted its stake in shares of Sterling Infrastructure by 6.0% in the first quarter. Xponance Inc. now owns 2,272 shares of the construction company's stock valued at $257,000 after buying an additional 128 shares in the last quarter. Institutional investors and hedge funds own 80.95% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on STRL shares. 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 note on Wednesday, August 6th. Zacks Research upgraded Sterling Infrastructure from a "hold" rating to a "strong-buy" rating in a research note on Friday, September 5th. Finally, Wall Street Zen upgraded Sterling Infrastructure from a "buy" rating to a "strong-buy" rating in a research note on Saturday. One research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $355.00.

Insider Buying and Selling

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 completion of the transaction, the general counsel directly owned 29,315 shares in the company, valued at approximately $6,621,379.05. This represents a 10.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 2.70% of the company's stock.

Sterling Infrastructure Stock Down 1.1%

Shares of NASDAQ:STRL opened at $319.38 on Wednesday. The company has a market capitalization of $9.72 billion, a P/E ratio of 34.72, a P/E/G ratio of 2.39 and a beta of 1.35. The stock's fifty day simple moving average is $276.40 and its 200-day simple moving average is $204.02. Sterling Infrastructure, Inc. has a 52-week low of $96.34 and a 52-week high of $327.07. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.31.

Sterling Infrastructure Company 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.

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