Vanguard Group Inc. Raises Stock Holdings in Sterling Infrastructure, Inc. $STRL

Vanguard Group Inc. grew its holdings in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 6.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,682,995 shares of the construction company's stock after purchasing an additional 159,191 shares during the quarter. Vanguard Group Inc. owned approximately 8.82% of Sterling Infrastructure worth $303,742,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Sunbelt Securities Inc. raised its holdings in shares of Sterling Infrastructure by 689.7% during 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 period. Versant Capital Management Inc raised 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 valued at $27,000 after buying an additional 185 shares during the period. Opal Wealth Advisors LLC purchased a new stake in Sterling Infrastructure in the 1st quarter valued at about $28,000. SBI Securities Co. Ltd. raised its holdings in Sterling Infrastructure by 111.3% in 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 during the period. Finally, IFP Advisors Inc raised its holdings in Sterling Infrastructure by 40.5% in the 1st quarter. IFP Advisors Inc now owns 923 shares of the construction company's stock valued at $104,000 after buying an additional 266 shares during the period. Hedge funds and other institutional investors own 80.95% of the company's stock.

Sterling Infrastructure Stock Down 0.4%

Shares of Sterling Infrastructure stock traded down $1.13 on Wednesday, reaching $274.89. 452,061 shares of the company were exchanged, compared to its average volume of 662,707. Sterling Infrastructure, Inc. has a 1-year low of $96.34 and a 1-year high of $321.79. The company has a market cap of $8.36 billion, a P/E ratio of 29.88, a price-to-earnings-growth ratio of 2.15 and a beta of 1.46. 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 stock's 50 day moving average price is $249.28 and its 200-day moving average price is $181.95.

Insider Buying and Selling

In related news, Director Dana C. O'brien sold 10,154 shares of the company's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $206.58, for a total value of $2,097,613.32. Following the completion of the transaction, the director directly owned 16,498 shares of the company's stock, valued at $3,408,156.84. This represents a 38.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 value of $790,545.00. Following the completion of the transaction, the general counsel directly owned 29,315 shares of the company's stock, valued at $6,621,379.05. This trade represents a 10.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 3.70% of the company's stock.

Wall Street Analyst Weigh In

STRL has been the topic of several research analyst reports. Wall Street Zen upgraded shares of Sterling Infrastructure from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. DA Davidson boosted their price objective 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. Two analysts have rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of "Buy" and an average target price 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.