Envestnet Asset Management Inc. Boosts Position in Sterling Infrastructure, Inc. (NASDAQ:STRL)

Envestnet Asset Management Inc. boosted its position in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) by 30.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 78,454 shares of the construction company’s stock after purchasing an additional 18,254 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.26% of Sterling Infrastructure worth $8,882,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Sterling Infrastructure during the first quarter worth about $129,000. D.A. Davidson & CO. lifted its position in Sterling Infrastructure by 5.0% during the first quarter. D.A. Davidson & CO. now owns 2,424 shares of the construction company’s stock worth $274,000 after buying an additional 116 shares during the period. Hudson Edge Investment Partners Inc. purchased a new position in Sterling Infrastructure during the first quarter worth about $823,000. CMG Global Holdings LLC purchased a new position in Sterling Infrastructure during the first quarter worth about $651,000. Finally, CWC Advisors LLC. lifted its position in Sterling Infrastructure by 32.0% during the first quarter. CWC Advisors LLC. now owns 1,815 shares of the construction company’s stock worth $205,000 after buying an additional 440 shares during the period. 80.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on STRL. Wall Street Zen downgraded Sterling Infrastructure from a “buy” rating to a “hold” rating in a research report on Saturday, July 5th. DA Davidson increased their target price on Sterling Infrastructure from $205.00 to $265.00 and gave the stock a “buy” rating in a research report on Wednesday, June 18th.

Insider Buying and Selling at Sterling Infrastructure

In other Sterling Infrastructure news, Director Dana C. O’brien sold 10,154 shares of Sterling Infrastructure stock in a transaction on Monday, June 16th. The stock was sold at an average price of $206.58, for a total transaction of $2,097,613.32. Following the sale, the director owned 16,498 shares of the company’s stock, valued at $3,408,156.84. The trade was a 38.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Mark D. Wolf sold 3,500 shares of the business’s 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 completion of the sale, the general counsel directly owned 29,315 shares in the company, valued at $6,621,379.05. This represents a 10.67% decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.70% of the company’s stock.

Sterling Infrastructure Stock Performance

Shares of NASDAQ:STRL opened at $247.65 on Tuesday. The firm has a market capitalization of $7.53 billion, a PE ratio of 28.93, a P/E/G ratio of 2.08 and a beta of 1.40. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.32 and a quick ratio of 1.32. The business has a 50-day moving average of $212.74 and a two-hundred day moving average of $166.27. Sterling Infrastructure, Inc. has a 12 month low of $93.50 and a 12 month high of $255.59.

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.