OneDigital Investment Advisors LLC bought a new position in Sterling Infrastructure, Inc. (NASDAQ:STRL – Free Report) during the second quarter, HoldingsChannel.com reports. The institutional investor bought 1,153 shares of the construction company’s stock, valued at approximately $967,000.
Several other hedge funds have also added to or reduced their stakes in STRL. Kemnay Advisory Services Inc. purchased a new stake in Sterling Infrastructure during the fourth quarter valued at about $31,000. EverSource Wealth Advisors LLC increased its holdings in shares of Sterling Infrastructure by 33.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 107 shares of the construction company’s stock worth $33,000 after buying an additional 27 shares during the period. Cedar Mountain Advisors LLC increased its holdings in shares of Sterling Infrastructure by 8,000.0% in the first quarter. Cedar Mountain Advisors LLC now owns 81 shares of the construction company’s stock worth $33,000 after buying an additional 80 shares during the period. Rakuten Securities Inc. lifted its stake in shares of Sterling Infrastructure by 6,950.0% in the 2nd quarter. Rakuten Securities Inc. now owns 141 shares of the construction company’s stock valued at $33,000 after acquiring an additional 139 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd lifted its stake in shares of Sterling Infrastructure by 316.0% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 104 shares of the construction company’s stock valued at $35,000 after acquiring an additional 79 shares during the last quarter. 80.95% of the stock is owned by institutional investors.
Sterling Infrastructure Stock Up 4.8%
Shares of NASDAQ:STRL opened at $603.89 on Tuesday. The firm has a market capitalization of $18.47 billion, a P/E ratio of 43.54, a P/E/G ratio of 2.01 and a beta of 1.88. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a 50 day moving average price of $698.78 and a 200-day moving average price of $594.29. Sterling Infrastructure, Inc. has a 52-week low of $263.45 and a 52-week high of $1,005.68.
Insider Activity
In related news, General Counsel Mark D. Wolf sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $888.00, for a total value of $2,220,000.00. Following the sale, the general counsel owned 28,137 shares in the company, valued at $24,985,656. This represents a 8.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 1.60% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
Several equities analysts recently issued reports on STRL shares. Cantor Fitzgerald reduced their price target on Sterling Infrastructure from $956.00 to $742.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 5th. Weiss Ratings downgraded Sterling Infrastructure from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, July 28th. KeyCorp dropped their price objective on Sterling Infrastructure from $922.00 to $754.00 and set an “overweight” rating for the company in a research note on Wednesday, August 5th. Oppenheimer began coverage on shares of Sterling Infrastructure in a report on Thursday, May 28th. They issued an “outperform” rating and a $950.00 target price on the stock. Finally, Zacks Research downgraded shares of Sterling Infrastructure from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 7th. Seven analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Sterling Infrastructure presently has an average rating of “Moderate Buy” and an average price target of $657.00.
Get Our Latest Stock Report on STRL
Sterling Infrastructure 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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