Sterling Infrastructure, Inc. (NASDAQ:STRL) Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. lifted its stake in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 58.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 73,968 shares of the construction company's stock after acquiring an additional 27,182 shares during the quarter. Victory Capital Management Inc. owned approximately 0.24% of Sterling Infrastructure worth $8,374,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. BIP Wealth LLC boosted its position in shares of Sterling Infrastructure by 0.3% in the first quarter. BIP Wealth LLC now owns 49,345 shares of the construction company's stock worth $5,586,000 after purchasing an additional 144 shares during the period. Kornitzer Capital Management Inc. KS lifted its position in Sterling Infrastructure by 16.7% in the first quarter. Kornitzer Capital Management Inc. KS now owns 76,730 shares of the construction company's stock worth $8,687,000 after buying an additional 10,970 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new stake in Sterling Infrastructure in the first quarter worth about $2,355,000. Dakota Wealth Management lifted its position in shares of Sterling Infrastructure by 91.7% during the first quarter. Dakota Wealth Management now owns 3,429 shares of the construction company's stock worth $388,000 after purchasing an additional 1,640 shares during the last quarter. Finally, SBI Securities Co. Ltd. raised its stake in shares of Sterling Infrastructure by 111.3% during the first quarter. SBI Securities Co. Ltd. now owns 488 shares of the construction company's stock valued at $55,000 after acquiring an additional 257 shares in the last quarter. 80.95% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

STRL has been the subject of several recent research reports. Wall Street Zen lowered shares of Sterling Infrastructure from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. DA Davidson increased their price objective on shares of Sterling Infrastructure from $205.00 to $265.00 and gave the stock a "buy" rating in a research note on Wednesday, June 18th.

Sterling Infrastructure Trading Up 6.1%

STRL traded up $15.46 during trading hours on Friday, reaching $268.14. The company's stock had a trading volume of 559,222 shares, compared to its average volume of 432,406. Sterling Infrastructure, Inc. has a fifty-two week low of $93.50 and a fifty-two week high of $269.44. The stock has a market cap of $8.15 billion, a PE ratio of 31.32, a P/E/G ratio of 2.09 and a beta of 1.40. The business's 50-day moving average is $216.50 and its 200-day moving average is $167.91. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.32 and a quick ratio of 1.32.

Insider Buying and Selling at Sterling Infrastructure

In other news, General Counsel Mark D. Wolf sold 3,500 shares of Sterling Infrastructure stock in a transaction 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 transaction, the general counsel directly owned 29,315 shares of the company's stock, valued at $6,621,379.05. The trade was a 10.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Dana C. O'brien sold 10,154 shares of Sterling Infrastructure stock in a transaction on Monday, June 16th. The shares were sold at an average price of $206.58, for a total transaction of $2,097,613.32. Following the completion of the transaction, the director owned 16,498 shares in the company, valued at approximately $3,408,156.84. This represents a 38.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.70% of the stock is currently owned by company insiders.

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.