Sterling Infrastructure (NASDAQ:STRL) Trading Down 5.3% – What’s Next?

Sterling Infrastructure, Inc. (NASDAQ:STRL) dropped 5.3% during mid-day trading on Thursday . The stock traded as low as $117.85 and last traded at $118.91. Approximately 186,338 shares changed hands during mid-day trading, a decline of 53% from the average daily volume of 394,523 shares. The stock had previously closed at $125.56.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on STRL. DA Davidson upgraded Sterling Infrastructure from a “neutral” rating to a “buy” rating and set a $185.00 target price for the company in a research note on Thursday, February 27th. StockNews.com downgraded shares of Sterling Infrastructure from a “buy” rating to a “hold” rating in a report on Monday, March 24th. Finally, William Blair began coverage on shares of Sterling Infrastructure in a research note on Friday, January 17th. They issued an “outperform” rating for the company.

Sterling Infrastructure Stock Down 0.7 %

The firm has a fifty day moving average price of $135.10 and a 200 day moving average price of $155.92. 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 company has a market cap of $3.55 billion, a P/E ratio of 19.62, a PEG ratio of 1.28 and a beta of 1.32.

Hedge Funds Weigh In On Sterling Infrastructure

Institutional investors have recently modified their holdings of the company. Quarry LP grew its stake in shares of Sterling Infrastructure by 510.7% during the 3rd quarter. Quarry LP now owns 171 shares of the construction company’s stock worth $25,000 after acquiring an additional 143 shares during the period. SBI Securities Co. Ltd. purchased a new stake in shares of Sterling Infrastructure in the 4th quarter valued at $39,000. Huntington National Bank lifted its position in Sterling Infrastructure by 34.6% in the fourth quarter. Huntington National Bank now owns 288 shares of the construction company’s stock valued at $49,000 after purchasing an additional 74 shares during the last quarter. National Bank of Canada FI bought a new stake in shares of Sterling Infrastructure in the fourth quarter worth about $56,000. Finally, Arcadia Investment Management Corp MI purchased a new position in Sterling Infrastructure during the 4th quarter valued at $71,000. 80.95% of the stock is owned by institutional investors and hedge funds.

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.