Voya Investment Management LLC Reduces Position in Sterling Infrastructure, Inc. $STRL

Key Points

• Voya Investment Management LLC reduced its stake in Sterling Infrastructure, Inc. by 10.1% during the first quarter, bringing its total shares to 8,025, valued at approximately $909,000.
• Institutional investors own over 80% of Sterling Infrastructure, with notable increases from firms like Ieq Capital and Envestnet Asset Management.
• Analysts are optimistic about Sterling Infrastructure, with Zacks and DA Davidson upgrading the stock to a "strong-buy" rating and increasing its target price to $355.00.

Voya Investment Management LLC trimmed its holdings in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 10.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,025 shares of the construction company's stock after selling 903 shares during the quarter. Voya Investment Management LLC's holdings in Sterling Infrastructure were worth $909,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Ieq Capital LLC boosted its position in shares of 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 during the period. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Sterling Infrastructure by 38.6% during the first 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 in the last quarter. Envestnet Asset Management Inc. increased its position in Sterling Infrastructure by 30.3% during the first quarter. Envestnet Asset Management Inc. now owns 78,454 shares of the construction company's stock worth $8,882,000 after buying an additional 18,254 shares during the last quarter. D.A. Davidson & CO. grew its position 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 purchasing an additional 116 shares during the last quarter. Finally, Hudson Edge Investment Partners Inc. acquired a new stake in shares of Sterling Infrastructure in the first quarter valued at about $823,000. 80.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Zacks Research upgraded shares of Sterling Infrastructure from a "hold" rating to a "strong-buy" rating in a research note on Friday, September 5th. DA Davidson upped their target price on shares of Sterling Infrastructure from $265.00 to $355.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Finally, Wall Street Zen raised shares of Sterling Infrastructure from a "buy" rating to a "strong-buy" rating in a report on Saturday, September 13th. One research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Buy" and an average price target of $355.00.

Sterling Infrastructure Trading Down 7.5%

NASDAQ:STRL opened at $344.05 on Thursday. Sterling Infrastructure, Inc. has a one year low of $96.34 and a one year high of $376.75. The company has a market cap of $10.47 billion, a PE ratio of 37.40, a PEG ratio of 2.75 and a beta of 1.35. The firm has a 50-day moving average of $289.97 and a 200-day moving average of $212.97. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.42 and a quick ratio of 1.42.

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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