Sterling Infrastructure (NASDAQ:STRL) Sets New 12-Month High – What’s Next?

Sterling Infrastructure, Inc. (NASDAQ:STRL) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $422.00 and last traded at $424.25, with a volume of 145860 shares traded. The stock had previously closed at $401.29.

Analysts Set New Price Targets

Several research firms recently issued reports on STRL. Stifel Nicolaus set a $486.00 price objective on shares of Sterling Infrastructure in a research note on Wednesday. Zacks Research downgraded Sterling Infrastructure from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. DA Davidson upped their target price on Sterling Infrastructure from $355.00 to $460.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Weiss Ratings raised shares of Sterling Infrastructure from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, January 26th. Finally, Cantor Fitzgerald initiated coverage on shares of Sterling Infrastructure in a report on Friday, January 23rd. They set an “overweight” rating and a $413.00 price objective for the company. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $453.00.

Sterling Infrastructure Stock Performance

The stock has a market capitalization of $13.33 billion, a P/E ratio of 42.54, a PEG ratio of 2.43 and a beta of 1.51. The firm has a 50-day moving average of $338.40 and a 200 day moving average of $331.43. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.26.

Sterling Infrastructure announced that its board has authorized a stock repurchase plan on Wednesday, November 12th that authorizes the company to repurchase $400.00 million in outstanding shares. This repurchase authorization authorizes the construction company to purchase up to 3.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

Insider Activity at Sterling Infrastructure

In related news, Director Dana C. O’brien sold 2,000 shares of the business’s stock in a transaction on Monday, February 9th. The stock was sold at an average price of $410.00, for a total value of $820,000.00. Following the sale, the director owned 11,498 shares of the company’s stock, valued at $4,714,180. The trade was a 14.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Dwayne Andree Wilson sold 2,860 shares of the company’s stock in a transaction on Friday, January 16th. The shares were sold at an average price of $350.00, for a total value of $1,001,000.00. Following the completion of the sale, the director owned 14,749 shares in the company, valued at $5,162,150. This trade represents a 16.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 6,860 shares of company stock valued at $2,611,000 in the last 90 days. 3.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of STRL. Legacy Capital Wealth Management LLC bought a new stake in Sterling Infrastructure during the 4th quarter worth approximately $3,306,000. Empowered Funds LLC lifted its position in Sterling Infrastructure by 27.1% during the 4th quarter. Empowered Funds LLC now owns 3,401 shares of the construction company’s stock worth $1,041,000 after buying an additional 725 shares in the last quarter. Renaissance Group LLC lifted its position in Sterling Infrastructure by 0.7% during the 4th quarter. Renaissance Group LLC now owns 31,031 shares of the construction company’s stock worth $9,503,000 after buying an additional 201 shares in the last quarter. Gilpin Wealth Management LLC bought a new stake in Sterling Infrastructure during the 4th quarter worth about $217,000. Finally, Ameritas Investment Partners Inc. increased its position in Sterling Infrastructure by 221.3% in the 4th quarter. Ameritas Investment Partners Inc. now owns 8,094 shares of the construction company’s stock valued at $2,479,000 after acquiring an additional 5,575 shares in the last quarter. Institutional investors own 80.95% of the company’s stock.

About Sterling Infrastructure

Sterling Infrastructure, Inc (NASDAQ: STRL) is a diversified manufacturer and distributor of essential infrastructure products serving municipal, utility and industrial customers across North America. Through its network of wholly owned subsidiaries, the company designs, engineers and produces a wide range of cast and fabricated solutions tailored to the needs of the waterworks, natural gas, telecommunications, electric, traffic safety and parks & recreation markets.

The company’s product portfolio encompasses ductile iron and composite fittings, valve boxes, manhole frames and covers, water and gas meter sets, street light poles and mounting accessories, traffic sign posts with breakaway systems, bollards and related system components.