Sterling Infrastructure, Inc. (NASDAQ:STRL) Holdings Lifted by Wedbush Securities Inc.

Key Points

• Wedbush Securities Inc. increased its stake in Sterling Infrastructure, Inc. by 80.6% during the first quarter, acquiring an additional 1,212 shares to reach a total of 2,715 shares valued at approximately $307,000.
• Vanguard Group Inc. has significantly raised its holdings in Sterling Infrastructure by 30.0% in the fourth quarter, now owning 2,523,804 shares valued at about $425 million.
• DA Davidson increased its price target for Sterling Infrastructure from $205.00 to $265.00, while Wall Street Zen adjusted its rating from "buy" to "hold".

Wedbush Securities Inc. grew its position in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) by 80.6% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,715 shares of the construction company's stock after buying an additional 1,212 shares during the quarter. Wedbush Securities Inc.'s holdings in Sterling Infrastructure were worth $307,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC raised 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 purchasing an additional 1,337 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Sterling Infrastructure by 30.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 78,454 shares of the construction company's stock valued at $8,882,000 after acquiring an additional 18,254 shares during the last quarter. D.A. Davidson & CO. increased its stake in shares of Sterling Infrastructure by 5.0% during the 1st quarter. D.A. Davidson & CO. now owns 2,424 shares of the construction company's stock valued at $274,000 after acquiring an additional 116 shares during the last quarter. Hudson Edge Investment Partners Inc. acquired a new position in shares of Sterling Infrastructure during the 1st quarter valued at about $823,000. Finally, Sowell Financial Services LLC acquired a new position in shares of Sterling Infrastructure during the 1st quarter valued at about $215,000. 80.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Sterling Infrastructure

In other Sterling Infrastructure news, General Counsel Mark D. Wolf sold 3,500 shares of the stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $225.87, for a total value of $790,545.00. Following the sale, the general counsel directly owned 29,315 shares of the company's stock, valued at $6,621,379.05. This trade represents a 10.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Dana C. O'brien sold 10,154 shares of the stock in a transaction 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 directly owned 16,498 shares in the company, valued at $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. Corporate insiders own 2.70% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on STRL shares. Wall Street Zen downgraded shares of Sterling Infrastructure from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. DA Davidson upped their price target on Sterling Infrastructure from $205.00 to $265.00 and gave the stock a "buy" rating in a report on Wednesday, June 18th.

Sterling Infrastructure Stock Down 1.7%

Shares of Sterling Infrastructure stock traded down $4.55 on Monday, hitting $263.59. 552,047 shares of the company's stock traded hands, compared to its average volume of 409,441. The stock has a market cap of $8.02 billion, a P/E ratio of 30.79, a PEG ratio of 2.22 and a beta of 1.40. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.34. The firm's 50-day moving average is $218.09 and its 200 day moving average is $168.63. Sterling Infrastructure, Inc. has a 52-week low of $93.50 and a 52-week high of $270.38.

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.