Janney Montgomery Scott LLC boosted its stake in Sterling Infrastructure, Inc. (NASDAQ:STRL – Free Report) by 36.5% during the first quarter, HoldingsChannel reports. The institutional investor owned 5,087 shares of the construction company’s stock after buying an additional 1,359 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Sterling Infrastructure were worth $2,072,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the company. Northwestern Mutual Investment Management Company LLC acquired a new stake in shares of Sterling Infrastructure in the fourth quarter worth approximately $2,105,000. Truist Financial Corp raised its stake in Sterling Infrastructure by 30.8% in the 4th quarter. Truist Financial Corp now owns 5,005 shares of the construction company’s stock valued at $1,533,000 after purchasing an additional 1,179 shares during the last quarter. Prevail Innovative Wealth Advisors LLC lifted its holdings in Sterling Infrastructure by 109.5% in the 4th quarter. Prevail Innovative Wealth Advisors LLC now owns 15,581 shares of the construction company’s stock valued at $4,771,000 after purchasing an additional 8,145 shares in the last quarter. Harbor Capital Advisors Inc. lifted its holdings in Sterling Infrastructure by 6,893.6% in the 4th quarter. Harbor Capital Advisors Inc. now owns 3,287 shares of the construction company’s stock valued at $1,007,000 after purchasing an additional 3,240 shares in the last quarter. Finally, Allworth Financial LP boosted its stake in Sterling Infrastructure by 1,307.9% during the 3rd quarter. Allworth Financial LP now owns 7,631 shares of the construction company’s stock worth $2,592,000 after purchasing an additional 7,089 shares during the last quarter. 80.95% of the stock is currently owned by institutional investors and hedge funds.
Sterling Infrastructure Price Performance
Shares of STRL stock opened at $707.17 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.10 and a quick ratio of 1.10. The company has a market capitalization of $21.70 billion, a PE ratio of 63.25, a price-to-earnings-growth ratio of 2.40 and a beta of 1.83. The firm’s 50-day moving average is $807.55 and its two-hundred day moving average is $541.19. Sterling Infrastructure, Inc. has a 12 month low of $226.64 and a 12 month high of $1,005.68.
Analysts Set New Price Targets
A number of equities research analysts have recently issued reports on STRL shares. Oppenheimer started coverage on shares of Sterling Infrastructure in a report on Thursday, May 28th. They set an “outperform” rating and a $950.00 target price for the company. Weiss Ratings raised shares of Sterling Infrastructure from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday. Cantor Fitzgerald restated an “overweight” rating on shares of Sterling Infrastructure in a research report on Thursday, June 18th. KeyCorp upped their price objective on shares of Sterling Infrastructure from $889.00 to $922.00 and gave the company an “overweight” rating in a research note on Tuesday, June 2nd. Finally, Wall Street Zen downgraded shares of Sterling Infrastructure from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 4th. One analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company’s stock. According to MarketBeat.com, Sterling Infrastructure currently has a consensus rating of “Buy” and a consensus target price of $720.67.
Check Out Our Latest Stock Report on Sterling Infrastructure
Insider Buying and Selling
In other Sterling Infrastructure news, General Counsel Mark D. Wolf sold 2,500 shares of the firm’s stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $888.00, for a total transaction of $2,220,000.00. Following the completion of the sale, the general counsel owned 28,137 shares of the company’s stock, valued at $24,985,656. This trade represents a 8.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Joseph A. Cutillo sold 50,000 shares of Sterling Infrastructure stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $497.57, for a total value of $24,878,500.00. Following the completion of the sale, the chief executive officer owned 290,593 shares in the company, valued at $144,590,359.01. This represents a 14.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.60% of the company’s stock.
Sterling Infrastructure Company Profile
Sterling Infrastructure, Inc (NASDAQ: STRL) is a diversified manufacturer and distributor of essential infrastructure products serving municipal, utility and industrial customers across North America. Through its network of wholly owned subsidiaries, the company designs, engineers and produces a wide range of cast and fabricated solutions tailored to the needs of the waterworks, natural gas, telecommunications, electric, traffic safety and parks & recreation markets.
The company’s product portfolio encompasses ductile iron and composite fittings, valve boxes, manhole frames and covers, water and gas meter sets, street light poles and mounting accessories, traffic sign posts with breakaway systems, bollards and related system components.
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