Balboa Wealth Partners Has $1.79 Million Position in Sterling Infrastructure, Inc. (NASDAQ:STRL)

Balboa Wealth Partners grew its position in Sterling Infrastructure, Inc. (NASDAQ:STRL) by 43.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,841 shares of the construction company’s stock after buying an additional 4,817 shares during the quarter. Balboa Wealth Partners’ holdings in Sterling Infrastructure were worth $1,793,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Sterling Infrastructure by 30.0% in the 4th quarter. Vanguard Group Inc. now owns 2,523,804 shares of the construction company’s stock valued at $425,135,000 after buying an additional 581,847 shares in the last quarter. Invesco Ltd. raised its position in shares of Sterling Infrastructure by 22.5% in the 4th quarter. Invesco Ltd. now owns 757,273 shares of the construction company’s stock valued at $127,563,000 after buying an additional 139,081 shares in the last quarter. Capital Research Global Investors raised its position in shares of Sterling Infrastructure by 78.5% in the 4th quarter. Capital Research Global Investors now owns 574,976 shares of the construction company’s stock valued at $96,855,000 after buying an additional 252,934 shares in the last quarter. Congress Asset Management Co. increased its position in Sterling Infrastructure by 6.5% during the 1st quarter. Congress Asset Management Co. now owns 532,198 shares of the construction company’s stock worth $60,250,000 after purchasing an additional 32,255 shares in the last quarter. Finally, GW&K Investment Management LLC increased its position in Sterling Infrastructure by 3.4% during the 4th quarter. GW&K Investment Management LLC now owns 363,251 shares of the construction company’s stock worth $61,190,000 after purchasing an additional 12,064 shares in the last quarter. 80.95% of the stock is currently owned by institutional investors and hedge funds.

Sterling Infrastructure Price Performance

STRL stock opened at $222.50 on Tuesday. The company has a 50 day simple moving average of $180.34 and a 200 day simple moving average of $157.89. The stock has a market cap of $6.77 billion, a price-to-earnings ratio of 25.99, a P/E/G ratio of 1.80 and a beta of 1.37. Sterling Infrastructure, Inc. has a 1 year low of $93.50 and a 1 year high of $233.57. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.32 and a quick ratio of 1.32.

Insider Buying and Selling

In other Sterling Infrastructure news, Director Dana C. O’brien sold 10,154 shares of the company’s stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $206.58, for a total value of $2,097,613.32. Following the completion of the transaction, the director now directly owns 16,498 shares in the company, valued at approximately $3,408,156.84. This represents a 38.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

STRL has been the subject of a number of research analyst reports. Wall Street Zen upgraded shares of Sterling Infrastructure from a “hold” rating to a “buy” rating in a research report on Thursday, May 22nd. DA Davidson upped their price objective on shares of Sterling Infrastructure from $205.00 to $265.00 and gave the stock a “buy” rating in a research report on Wednesday, June 18th.

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.