Sterling Infrastructure (NASDAQ:STRL) Rating Increased to Buy at StockNews.com

Sterling Infrastructure (NASDAQ:STRL) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday.

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

Sterling Infrastructure Stock Performance

STRL stock traded up $1.43 during midday trading on Wednesday, hitting $141.11. The company’s stock had a trading volume of 669,575 shares, compared to its average volume of 460,575. The stock has a market cap of $4.33 billion, a price-to-earnings ratio of 23.84, a PEG ratio of 2.07 and a beta of 1.26. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.41. The stock’s 50-day moving average price is $179.50 and its 200 day moving average price is $151.96. Sterling Infrastructure has a 1 year low of $74.44 and a 1 year high of $206.07.

Sterling Infrastructure (NASDAQ:STRL) last posted its quarterly earnings results on Wednesday, November 6th. The construction company reported $1.97 earnings per share for the quarter, beating 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 in the prior year, the business earned $1.26 earnings per share. On average, equities analysts forecast that Sterling Infrastructure will post 5.98 EPS for the current year.

Insider Buying and Selling

In related news, Director Dana C. O’brien sold 2,000 shares of the business’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $175.89, for a total transaction of $351,780.00. Following the sale, the director now directly owns 25,901 shares in the company, valued at approximately $4,555,726.89. The trade was a 7.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.70% of the stock is currently owned by insiders.

Institutional Trading of Sterling Infrastructure

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Quarry LP raised its stake in Sterling Infrastructure by 510.7% in the third quarter. Quarry LP now owns 171 shares of the construction company’s stock valued at $25,000 after purchasing an additional 143 shares in the last quarter. Capital Performance Advisors LLP purchased a new stake in shares of Sterling Infrastructure during the 3rd quarter valued at $26,000. Huntington National Bank lifted its holdings in shares of Sterling Infrastructure by 21,300.0% during the 3rd quarter. Huntington National Bank now owns 214 shares of the construction company’s stock worth $31,000 after acquiring an additional 213 shares during the last quarter. Signaturefd LLC grew its position in Sterling Infrastructure by 119.3% in 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. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in Sterling Infrastructure in the third quarter valued at $44,000. Institutional investors own 80.95% of the company’s stock.

Sterling Infrastructure Company 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.