Sterling Infrastructure (NASDAQ:STRL) Hits New 52-Week High – Here’s Why

Sterling Infrastructure, Inc. (NASDAQ:STRL)’s share price hit a new 52-week high during trading on Wednesday . The company traded as high as $206.07 and last traded at $202.11, with a volume of 67443 shares traded. The stock had previously closed at $196.55.

Wall Street Analysts Forecast Growth

Separately, William Blair started coverage on Sterling Infrastructure in a research note on Friday, January 17th. They issued an “outperform” rating for the company.

Sterling Infrastructure Price Performance

The firm has a market cap of $6.04 billion, a PE ratio of 33.21, a P/E/G ratio of 2.07 and a beta of 1.26. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.29 and a quick ratio of 1.29. The business’s fifty day moving average is $181.96 and its 200-day moving average is $150.35.

Sterling Infrastructure (NASDAQ:STRL) last issued its quarterly earnings results on Wednesday, November 6th. The construction company reported $1.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.29. Sterling Infrastructure had a net margin of 8.77% and a return on equity of 27.52%. The company had revenue of $593.74 million during the quarter, compared to analyst estimates of $599.90 million. During the same quarter last year, the business posted $1.26 EPS. On average, research analysts predict that Sterling Infrastructure, Inc. will post 5.98 earnings per share for the current fiscal year.

Insider Buying and Selling at Sterling Infrastructure

In related news, Director Dana C. O’brien sold 2,000 shares of Sterling Infrastructure stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $175.89, for a total value of $351,780.00. Following the completion of the sale, the director now owns 25,901 shares of the company’s stock, valued at approximately $4,555,726.89. This trade represents a 7.17 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On Sterling Infrastructure

Institutional investors have recently added to or reduced their stakes in the business. Chartwell Investment Partners LLC raised its position in shares of Sterling Infrastructure by 0.8% in the third quarter. Chartwell Investment Partners LLC now owns 8,958 shares of the construction company’s stock valued at $1,299,000 after purchasing an additional 70 shares during the period. Xponance Inc. grew its stake in Sterling Infrastructure by 5.1% in the 2nd quarter. Xponance Inc. now owns 1,914 shares of the construction company’s stock valued at $227,000 after buying an additional 93 shares in the last quarter. GAMMA Investing LLC grew its stake in Sterling Infrastructure by 45.2% in the 3rd quarter. GAMMA Investing LLC now owns 302 shares of the construction company’s stock valued at $44,000 after buying an additional 94 shares in the last quarter. Quarry LP raised its holdings in Sterling Infrastructure by 510.7% during the 3rd quarter. Quarry LP now owns 171 shares of the construction company’s stock valued at $25,000 after acquiring an additional 143 shares during the period. Finally, Signaturefd LLC lifted its position in shares of Sterling Infrastructure by 119.3% during the third quarter. Signaturefd LLC now owns 296 shares of the construction company’s stock worth $43,000 after acquiring an additional 161 shares in the last quarter. 80.95% of the stock is owned by hedge funds and other institutional investors.

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.