XTX Topco Ltd Takes Position in Sterling Infrastructure, Inc. (NASDAQ:STRL)

XTX Topco Ltd purchased a new stake in Sterling Infrastructure, Inc. (NASDAQ:STRL - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 4,863 shares of the construction company's stock, valued at approximately $551,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Banque Cantonale Vaudoise purchased a new position in shares of Sterling Infrastructure during the first quarter worth $566,000. GSA Capital Partners LLP purchased a new stake in shares of Sterling Infrastructure in the 1st quarter valued at about $1,055,000. Federated Hermes Inc. increased its position in Sterling Infrastructure by 6,732.1% in the 1st quarter. Federated Hermes Inc. now owns 27,055 shares of the construction company's stock valued at $3,063,000 after acquiring an additional 26,659 shares during the period. Essex Investment Management Co. LLC increased its position in Sterling Infrastructure by 43.1% in the 1st quarter. Essex Investment Management Co. LLC now owns 53,925 shares of the construction company's stock valued at $6,105,000 after acquiring an additional 16,242 shares during the period. Finally, Meeder Asset Management Inc. increased its position in Sterling Infrastructure by 134.0% in the 1st quarter. Meeder Asset Management Inc. now owns 18,140 shares of the construction company's stock valued at $2,054,000 after acquiring an additional 10,388 shares during the period. Institutional investors and hedge funds own 80.95% of the company's stock.

Sterling Infrastructure Trading Up 1.0%

Shares of Sterling Infrastructure stock traded up $3.05 during trading hours on Friday, reaching $302.69. 317,044 shares of the company's stock were exchanged, compared to its average volume of 527,252. Sterling Infrastructure, Inc. has a 52-week low of $96.34 and a 52-week high of $321.79. The firm has a market capitalization of $9.21 billion, a price-to-earnings ratio of 32.90, a price-to-earnings-growth ratio of 2.50 and a beta of 1.46. The company has a fifty day moving average of $236.73 and a 200-day moving average of $175.63. The company has a current ratio of 1.42, a quick ratio of 1.32 and a debt-to-equity ratio of 0.31.

Analyst Ratings Changes

STRL has been the topic of several recent analyst reports. Wall Street Zen upgraded Sterling Infrastructure from a "hold" rating to a "buy" rating in a research report on Saturday. DA Davidson upped their target price on Sterling Infrastructure from $265.00 to $355.00 and gave the company a "buy" rating in a research note on Wednesday.

Insiders Place Their Bets

In related news, General Counsel Mark D. Wolf sold 3,500 shares of Sterling Infrastructure 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 transaction, the general counsel owned 29,315 shares in the company, valued at approximately $6,621,379.05. This trade represents a 10.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dana C. O'brien sold 10,154 shares of the firm's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $206.58, for a total value of $2,097,613.32. Following the completion of the transaction, the director directly owned 16,498 shares in the company, valued at $3,408,156.84. This trade represents a 38.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.70% of the stock is currently owned by company insiders.

About Sterling Infrastructure

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.