Commerce Bank Increases Position in Sterling Infrastructure, Inc. (NASDAQ:STRL)

Commerce Bank increased its stake in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) by 25.7% during the first quarter, Holdings Channel.com reports. The institutional investor owned 3,726 shares of the construction company’s stock after buying an additional 761 shares during the quarter. Commerce Bank’s holdings in Sterling Infrastructure were worth $422,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in STRL. Sunbelt Securities Inc. boosted its holdings in 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 during the last quarter. Versant Capital Management Inc boosted its holdings in Sterling Infrastructure by 355.8% in the first 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 last quarter. Opal Wealth Advisors LLC purchased a new stake in Sterling Infrastructure in the first quarter valued at $28,000. National Bank of Canada FI purchased a new stake in Sterling Infrastructure in the fourth quarter valued at $56,000. Finally, SBI Securities Co. Ltd. boosted its holdings in Sterling Infrastructure by 111.3% in the first quarter. SBI Securities Co. Ltd. now owns 488 shares of the construction company’s stock valued at $55,000 after purchasing an additional 257 shares during the last quarter. 80.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Wall Street Zen lowered shares of Sterling Infrastructure from a “buy” rating to a “hold” rating in a report on Saturday, July 5th. DA Davidson upped their price target on shares of Sterling Infrastructure from $265.00 to $355.00 and gave the company a “buy” rating in a report on Wednesday.

Insider Transactions at Sterling Infrastructure

In other Sterling Infrastructure news, Director Dana C. O’brien sold 10,154 shares of the company’s stock in a transaction dated 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 owned 16,498 shares in the company, valued at approximately $3,408,156.84. This represents a 38.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Mark D. Wolf sold 3,500 shares of the company’s stock in a transaction dated Tuesday, June 24th. The stock was 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 owned 29,315 shares of the company’s stock, valued at approximately $6,621,379.05. This trade represents a 10.67% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.70% of the company’s stock.

Sterling Infrastructure Price Performance

NASDAQ:STRL opened at $299.42 on Thursday. The firm’s fifty day moving average is $232.17 and its two-hundred day moving average is $174.26. The firm has a market cap of $9.11 billion, a price-to-earnings ratio of 32.55, a PEG ratio of 2.45 and a beta of 1.46. Sterling Infrastructure, Inc. has a one year low of $96.34 and a one year high of $321.79. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.32 and a current ratio of 1.42.

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.