Calamos Advisors LLC increased its stake in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL – Free Report) by 8.3% during the 1st quarter, Holdings Channel reports. The fund owned 12,399 shares of the construction company’s stock after acquiring an additional 946 shares during the period. Calamos Advisors LLC’s holdings in Sterling Infrastructure were worth $5,050,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Empowered Funds LLC bought a new stake in Sterling Infrastructure in the first quarter valued at $378,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Sterling Infrastructure by 12.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 83,983 shares of the construction company’s stock worth $9,508,000 after purchasing an additional 9,625 shares in the last quarter. Focus Partners Wealth boosted its position in shares of Sterling Infrastructure by 13.7% during the 1st quarter. Focus Partners Wealth now owns 2,313 shares of the construction company’s stock worth $262,000 after purchasing an additional 279 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Sterling Infrastructure in the 2nd quarter valued at about $5,929,000. Finally, Cerity Partners LLC grew its stake in shares of Sterling Infrastructure by 195.7% in the 2nd quarter. Cerity Partners LLC now owns 19,522 shares of the construction company’s stock valued at $4,504,000 after buying an additional 12,921 shares during the period. 80.95% of the stock is currently owned by institutional investors and hedge funds.
Sterling Infrastructure Trading Down 1.6%
NASDAQ:STRL opened at $668.82 on Thursday. 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 firm has a 50-day moving average of $807.81 and a 200-day moving average of $551.29. The company has a market cap of $20.53 billion, a PE ratio of 59.82, a PEG ratio of 2.47 and a beta of 1.83. Sterling Infrastructure, Inc. has a one year low of $230.00 and a one year high of $1,005.68.
Insider Buying and Selling
In other news, General Counsel Mark D. Wolf sold 2,500 shares of the firm’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 transaction, the general counsel owned 28,137 shares in the company, valued at $24,985,656. This trade represents a 8.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Joseph A. Cutillo sold 50,000 shares of Sterling Infrastructure stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 290,593 shares in the company, valued at approximately $144,590,359.01. The trade was a 14.68% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.60% of the company’s stock.
Analysts Set New Price Targets
STRL has been the subject of a number of research analyst reports. Oppenheimer began coverage on Sterling Infrastructure in a research report on Thursday, May 28th. They issued an “outperform” rating and a $950.00 target price for the company. Cantor Fitzgerald reissued an “overweight” rating on shares of Sterling Infrastructure in a research note on Thursday, June 18th. Zacks Research raised Sterling Infrastructure from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 1st. KeyCorp boosted their price objective on Sterling Infrastructure from $889.00 to $922.00 and gave the company an “overweight” rating in a report on Tuesday, June 2nd. Finally, Weiss Ratings raised Sterling Infrastructure from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, July 6th. One research analyst has rated the stock with a Strong Buy rating and seven have given a Buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $720.67.
View Our Latest Research Report on STRL
About Sterling Infrastructure
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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