Vestcor Inc Increases Holdings in Sterling Infrastructure, Inc. (NASDAQ:STRL)

Vestcor Inc increased its stake in Sterling Infrastructure, Inc. (NASDAQ:STRL) by 3.3% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,535 shares of the construction company’s stock after purchasing an additional 144 shares during the quarter. Vestcor Inc’s holdings in Sterling Infrastructure were worth $513,000 at the end of the most recent quarter.

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

Sterling Infrastructure Price Performance

NASDAQ STRL opened at $263.05 on Monday. The firm’s fifty day simple moving average is $226.09 and its two-hundred day simple moving average is $171.90. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.34. Sterling Infrastructure, Inc. has a 12-month low of $93.50 and a 12-month high of $270.38. The firm has a market capitalization of $8.00 billion, a P/E ratio of 30.73, a P/E/G ratio of 2.18 and a beta of 1.46.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Sterling Infrastructure

In related news, General Counsel Mark D. Wolf sold 3,500 shares of the business’s stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $225.87, for a total transaction of $790,545.00. Following the completion of the transaction, the general counsel directly owned 29,315 shares in the company, valued at $6,621,379.05. The trade was a 10.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Dana C. O’brien sold 10,154 shares of the company’s stock in a transaction dated 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 completion of the transaction, the director owned 16,498 shares of the company’s stock, valued at approximately $3,408,156.84. This trade represents a 38.10% decrease in their position. The disclosure for this sale can be found here. Insiders own 2.70% of the company’s stock.

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.