Amanah Holdings Trust Invests $44.53 Million in Sterling Infrastructure, Inc. $STRL

Amanah Holdings Trust acquired a new position in shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 191,300 shares of the construction company’s stock, valued at approximately $44,527,000. Sterling Infrastructure accounts for approximately 11.1% of Amanah Holdings Trust’s holdings, making the stock its biggest holding.

A number of other institutional investors have also added to or reduced their stakes in STRL. Sunbelt Securities Inc. increased its position in Sterling Infrastructure by 689.7% during the 1st quarter. Sunbelt Securities Inc. now owns 229 shares of the construction company’s stock worth $26,000 after purchasing an additional 200 shares in the last quarter. Versant Capital Management Inc increased its position in Sterling Infrastructure by 355.8% during the 1st quarter. Versant Capital Management Inc now owns 237 shares of the construction company’s stock worth $27,000 after purchasing an additional 185 shares in the last quarter. Opal Wealth Advisors LLC acquired a new position in Sterling Infrastructure during the 1st quarter worth approximately $28,000. Quarry LP increased its position in Sterling Infrastructure by 107.7% during the 1st quarter. Quarry LP now owns 376 shares of the construction company’s stock worth $43,000 after purchasing an additional 195 shares in the last quarter. Finally, SBI Securities Co. Ltd. increased its position in Sterling Infrastructure by 111.3% during the 1st quarter. SBI Securities Co. Ltd. now owns 488 shares of the construction company’s stock worth $55,000 after purchasing an additional 257 shares in the last quarter. 80.95% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently issued reports on STRL. Wall Street Zen upgraded shares of Sterling Infrastructure from a “buy” rating to a “strong-buy” rating in a research report on Saturday. 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 research report on Wednesday, August 6th. Finally, Zacks Research upgraded shares of Sterling Infrastructure from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 5th. One investment analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company’s stock. Based on data from MarketBeat, Sterling Infrastructure has a consensus rating of “Buy” and an average target price of $355.00.

Insider Buying and Selling at Sterling Infrastructure

In other news, General Counsel Mark D. Wolf sold 3,500 shares of the 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 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 2.70% of the stock is currently owned by company insiders.

Sterling Infrastructure Trading Down 0.8%

Shares of NASDAQ STRL opened at $313.55 on Monday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.42 and a current ratio of 1.42. Sterling Infrastructure, Inc. has a 52-week low of $96.34 and a 52-week high of $321.79. The firm has a 50 day moving average price of $272.84 and a two-hundred day moving average price of $201.85. The stock has a market cap of $9.54 billion, a P/E ratio of 34.08, a price-to-earnings-growth ratio of 2.32 and a beta of 1.35.

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.