Moran Wealth Management LLC Acquires New Position in Sterling Infrastructure, Inc. (NASDAQ:STRL)

Moran Wealth Management LLC bought a new position in Sterling Infrastructure, Inc. (NASDAQ:STRL) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm bought 2,545 shares of the construction company’s stock, valued at approximately $429,000.

Several other institutional investors and hedge funds have also made changes to their positions in STRL. Assetmark Inc. increased its holdings in shares of Sterling Infrastructure by 357.6% in the third quarter. Assetmark Inc. now owns 1,121 shares of the construction company’s stock valued at $163,000 after purchasing an additional 876 shares during the last quarter. Atria Investments Inc grew its holdings in Sterling Infrastructure by 10.7% in the 3rd quarter. Atria Investments Inc now owns 6,594 shares of the construction company’s stock valued at $956,000 after buying an additional 636 shares in the last quarter. Axxcess Wealth Management LLC acquired a new stake in shares of Sterling Infrastructure in the 3rd quarter worth $230,000. State of New Jersey Common Pension Fund D raised its holdings in shares of Sterling Infrastructure by 9.0% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 16,729 shares of the construction company’s stock worth $2,426,000 after acquiring an additional 1,388 shares during the period. Finally, Chartwell Investment Partners LLC boosted its position in shares of Sterling Infrastructure by 0.8% during the 3rd quarter. Chartwell Investment Partners LLC now owns 8,958 shares of the construction company’s stock valued at $1,299,000 after acquiring an additional 70 shares during the last quarter. 80.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Sterling Infrastructure

In other news, Director Dana C. O’brien sold 2,000 shares of the stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $175.89, for a total transaction of $351,780.00. Following the sale, the director now owns 25,901 shares of the company’s stock, valued at approximately $4,555,726.89. This represents a 7.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on STRL shares. StockNews.com upgraded shares of Sterling Infrastructure from a “hold” rating to a “buy” rating in a research report on Thursday, March 6th. DA Davidson raised Sterling Infrastructure from a “neutral” rating to a “buy” rating and set a $185.00 target price for the company in a research note on Thursday, February 27th. Finally, William Blair assumed coverage on Sterling Infrastructure in a research note on Friday, January 17th. They issued an “outperform” rating on the stock.

Sterling Infrastructure Trading Up 0.6 %

STRL opened at $116.44 on Thursday. Sterling Infrastructure, Inc. has a 52 week low of $93.50 and a 52 week high of $206.07. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.41. The business has a fifty day simple moving average of $146.68 and a 200-day simple moving average of $155.43. The firm has a market cap of $3.56 billion, a P/E ratio of 19.67, a P/E/G ratio of 1.28 and a beta of 1.32.

Sterling Infrastructure 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.