Envestnet Asset Management Inc. Purchases 18,254 Shares of Sterling Infrastructure, Inc. (NASDAQ:STRL)

Envestnet Asset Management Inc. increased its position in Sterling Infrastructure, Inc. (NASDAQ:STRL) by 30.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 78,454 shares of the construction company’s stock after acquiring an additional 18,254 shares during the quarter. Envestnet Asset Management Inc. owned about 0.26% of Sterling Infrastructure worth $8,882,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in STRL. Sunbelt Securities Inc. increased its holdings in shares of Sterling Infrastructure by 689.7% in the first quarter. Sunbelt Securities Inc. now owns 229 shares of the construction company’s stock valued at $26,000 after purchasing an additional 200 shares in the last quarter. Versant Capital Management Inc lifted its position in Sterling Infrastructure by 355.8% in the 1st quarter. Versant Capital Management Inc now owns 237 shares of the construction company’s stock valued at $27,000 after acquiring an additional 185 shares in the last quarter. Opal Wealth Advisors LLC bought a new stake in Sterling Infrastructure in the 1st quarter valued at $28,000. Huntington National Bank increased its stake in Sterling Infrastructure by 34.6% in the 4th quarter. Huntington National Bank now owns 288 shares of the construction company’s stock valued at $49,000 after buying an additional 74 shares during the last quarter. Finally, National Bank of Canada FI acquired a new stake in Sterling Infrastructure in the 4th quarter valued at $56,000. Institutional investors own 80.95% of the company’s stock.

Insider Activity at Sterling Infrastructure

In other news, General Counsel Mark D. Wolf sold 3,500 shares of the company’s stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $225.87, for a total value of $790,545.00. Following the sale, the general counsel directly owned 29,315 shares of the company’s stock, valued at $6,621,379.05. This represents a 10.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dana C. O’brien sold 10,154 shares of the stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $206.58, for a total transaction of $2,097,613.32. Following the sale, the director directly owned 16,498 shares in the company, valued at $3,408,156.84. This trade represents a 38.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.70% of the stock is currently owned by insiders.

Sterling Infrastructure Stock Performance

NASDAQ STRL opened at $247.65 on Tuesday. The company has a market capitalization of $7.53 billion, a PE ratio of 28.93, a price-to-earnings-growth ratio of 2.08 and a beta of 1.40. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.32 and a current ratio of 1.32. The company has a 50-day simple moving average of $212.74 and a 200 day simple moving average of $166.27. Sterling Infrastructure, Inc. has a 52-week low of $93.50 and a 52-week high of $255.59.

Analyst Ratings Changes

A number of brokerages recently commented on STRL. Wall Street Zen lowered shares of Sterling Infrastructure from a “buy” rating to a “hold” rating in a research note on Saturday, July 5th. DA Davidson upped their price target on shares of Sterling Infrastructure from $205.00 to $265.00 and gave the company a “buy” rating in a research report on Wednesday, June 18th.

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.