Vident Advisory LLC Acquires New Holdings in Sterling Infrastructure, Inc. $STRL

Key Points

• Vident Advisory LLC has acquired a new stake in Sterling Infrastructure, Inc., purchasing 7,931 shares valued at approximately $898,000 during the 1st quarter.
• Several institutional investors, including Assetmark Inc. and D.A. Davidson & CO., have increased their holdings in Sterling Infrastructure, reflecting strong institutional interest with 80.95% of the stock owned by such investors.
• Wall Street Analysts have a consensus rating of "Buy" for Sterling Infrastructure, with a target price set at $355.00, although Wall Street Zen downgraded it from "strong-buy" to "buy" recently.

Vident Advisory LLC acquired a new stake in Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The fund acquired 7,931 shares of the construction company's stock, valued at approximately $898,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Assetmark Inc. grew its position in shares of Sterling Infrastructure by 5.4% in the 1st 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 grew its position in shares of Sterling Infrastructure by 2.1% in the 1st quarter. Peterson Wealth Services now owns 5,054 shares of the construction company's stock valued at $572,000 after purchasing an additional 103 shares during the period. D.A. Davidson & CO. grew its position 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 purchasing an additional 116 shares during the period. JT Stratford LLC grew its position in shares of Sterling Infrastructure by 1.0% in the 4th quarter. JT Stratford LLC now owns 12,465 shares of the construction company's stock valued at $2,100,000 after purchasing an additional 121 shares during the period. Finally, Xponance Inc. grew its position in shares of Sterling Infrastructure by 6.0% in the 1st quarter. Xponance Inc. now owns 2,272 shares of the construction company's stock valued at $257,000 after purchasing an additional 128 shares during the period. 80.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on STRL. Wall Street Zen downgraded Sterling Infrastructure from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 30th. DA Davidson upped their price target on Sterling Infrastructure from $265.00 to $355.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Two research analysts have rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of "Buy" and a consensus price target of $355.00.

Sterling Infrastructure Trading Up 5.4%

NASDAQ:STRL opened at $288.68 on Friday. The company has a market cap of $8.78 billion, a P/E ratio of 31.38, a price-to-earnings-growth ratio of 2.02 and a beta of 1.35. 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, Inc. has a twelve month low of $96.34 and a twelve month high of $321.79. The business has a 50 day moving average price of $264.78 and a two-hundred day moving average price of $193.39.

Insider Activity at Sterling Infrastructure

In other news, Director Dana C. O'brien sold 10,154 shares of the 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 sale, the director owned 16,498 shares of the company's stock, valued at approximately $3,408,156.84. This represents a 38.10% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Mark D. Wolf sold 3,500 shares of the 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 sale, the general counsel directly owned 29,315 shares of the company's stock, valued at approximately $6,621,379.05. The trade was a 10.67% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.70% of the company's stock.

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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