Wealth Alliance Advisory Group LLC Acquires New Stake in Sterling Infrastructure, Inc. $STRL

Key Points

• Wealth Alliance Advisory Group LLC acquired a new stake in Sterling Infrastructure, Inc. during the 2nd quarter, purchasing 1,680 shares valued at approximately $388,000.
• Several institutional investors increased their stakes in Sterling Infrastructure, leading to a cumulative ownership of 80.95% of the company's stock by these entities.
• Research analysts have recently updated their ratings for Sterling Infrastructure, with DA Davidson raising its price target from $265.00 to $355.00 and issuing a "buy" rating.

Wealth Alliance Advisory Group LLC acquired a new stake in Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 1,680 shares of the construction company's stock, valued at approximately $388,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Assetmark Inc. raised its holdings 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 buying an additional 70 shares during the period. Peterson Wealth Services raised its holdings 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 buying an additional 103 shares during the period. D.A. Davidson & CO. raised its holdings 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 buying an additional 116 shares during the period. JT Stratford LLC raised its holdings 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 buying an additional 121 shares during the period. Finally, Xponance Inc. increased its holdings in Sterling Infrastructure by 6.0% during the 1st quarter. Xponance Inc. now owns 2,272 shares of the construction company's stock worth $257,000 after purchasing an additional 128 shares during the period. Hedge funds and other institutional investors own 80.95% of the company's stock.

Wall Street Analyst Weigh In

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

Insider Activity

In other news, Director Dana C. O'brien sold 10,154 shares of the company's stock in a transaction dated Monday, June 16th. The stock was 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 directly 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 legal filing with the SEC, which can be accessed through this link. Also, General Counsel Mark D. Wolf sold 3,500 shares of the company's stock in a transaction dated Tuesday, June 24th. The stock was 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 approximately $6,621,379.05. This 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.

Sterling Infrastructure Trading Down 0.8%

NASDAQ:STRL opened at $313.55 on Friday. The stock has a 50-day simple moving average of $272.84 and a 200-day simple moving average of $201.30. The stock has a market cap of $9.54 billion, a P/E ratio of 34.08, a P/E/G ratio of 2.34 and a beta of 1.35. Sterling Infrastructure, Inc. has a 1 year low of $96.34 and a 1 year high of $321.79. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.42 and a current 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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