Wealth Alliance Advisory Group LLC Makes New Investment 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 purchased a new position in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 1,680 shares of the construction company's stock, valued at approximately $388,000.

Other hedge funds have also bought and sold shares of the company. Ieq Capital LLC grew its stake in Sterling Infrastructure by 94.8% in the 1st quarter. Ieq Capital LLC now owns 8,144 shares of the construction company's stock valued at $922,000 after buying an additional 3,963 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in Sterling Infrastructure by 38.6% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 4,804 shares of the construction company's stock valued at $544,000 after buying an additional 1,337 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in Sterling Infrastructure by 30.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 78,454 shares of the construction company's stock valued at $8,882,000 after buying an additional 18,254 shares in the last quarter. D.A. Davidson & CO. grew its stake in 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 in the last quarter. Finally, Hudson Edge Investment Partners Inc. purchased a new position in Sterling Infrastructure in the 1st quarter valued at approximately $823,000. 80.95% of the stock is currently owned by hedge funds and other institutional investors.

Sterling Infrastructure Price Performance

Shares of NASDAQ STRL traded up $10.29 during mid-day trading on Friday, reaching $358.87. 415,100 shares of the company were exchanged, compared to its average volume of 633,759. Sterling Infrastructure, Inc. has a 52 week low of $96.34 and a 52 week high of $363.08. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $10.92 billion, a PE ratio of 38.82, a PEG ratio of 2.37 and a beta of 1.35. The company's 50 day moving average price is $280.40 and its 200 day moving average price is $206.39.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other Sterling Infrastructure news, General Counsel Mark D. Wolf sold 3,500 shares of the business's 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 completion of the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 3.70% of the stock is owned by corporate 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.