Sterling Infrastructure (NASDAQ:STRL) Shares Climb 11.6% – Here’s What Happened

Sterling Infrastructure, Inc. (NASDAQ:STRL) shares shot up 11.6% during mid-day trading on Monday. The company traded as high as $280.00 and last traded at $282.0560. 105,601 shares traded hands during trading, a decline of 84% from the average session volume of 668,650 shares. The stock had previously closed at $252.82.

Wall Street Analyst Weigh In

Several research firms recently commented 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. KeyCorp increased their price target on shares of Sterling Infrastructure from $754.00 to $755.00 and gave the stock an “overweight” rating in a research note on Thursday, October 15th. Zacks Research downgraded shares of Sterling Infrastructure from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 7th. Stifel Nicolaus dropped their price objective on shares of Sterling Infrastructure from $804.00 to $742.00 and set a “buy” rating on the stock in a research note on Thursday, October 8th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $742.00 target price on shares of Sterling Infrastructure in a report on Thursday, October 29th. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $729.83.

Sterling Infrastructure Stock Performance

The company has a market cap of $8.76 billion, a PE ratio of 16.19, a P/E/G ratio of 0.47 and a beta of 1.97. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.04 and a current ratio of 1.04. The stock’s 50-day simple moving average is $452.01 and its 200 day simple moving average is $548.82.

Sterling Infrastructure (NASDAQ:STRL) last issued its earnings results on Wednesday, October 28th. The construction company reported $7.58 earnings per share for the quarter, beating the consensus estimate of $6.20 by $1.38. Sterling Infrastructure had a net margin of 12.85% and a return on equity of 45.97%. The business had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.19 billion. The company’s revenue was up 127.0% on a year-over-year basis. As a group, equities analysts anticipate that Sterling Infrastructure, Inc. will post 20.96 EPS for the current year.

Institutional Investors Weigh In On Sterling Infrastructure

A number of institutional investors have recently added to or reduced their stakes in STRL. Signature Equity Partners LLC lifted its holdings in shares of Sterling Infrastructure by 19.5% in the 1st quarter. Signature Equity Partners LLC now owns 104 shares of the construction company’s stock valued at $42,000 after buying an additional 17 shares during the period. World Investment Advisors boosted its stake in shares of Sterling Infrastructure by 2.4% in the first quarter. World Investment Advisors now owns 870 shares of the construction company’s stock valued at $354,000 after buying an additional 20 shares in the last quarter. TD Waterhouse Canada Inc. boosted its stake in shares of Sterling Infrastructure by 35.7% in the second quarter. TD Waterhouse Canada Inc. now owns 76 shares of the construction company’s stock valued at $59,000 after buying an additional 20 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Sterling Infrastructure by 43.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 79 shares of the construction company’s stock valued at $66,000 after buying an additional 24 shares in the last quarter. Finally, Signaturefd LLC grew its holdings in Sterling Infrastructure by 4.7% during the third quarter. Signaturefd LLC now owns 640 shares of the construction company’s stock worth $315,000 after acquiring an additional 29 shares during the period. Hedge funds and other institutional investors own 80.95% of the company’s stock.

About Sterling Infrastructure

Sterling Infrastructure, Inc (NASDAQ: STRL) is a U.S.-based construction company that delivers infrastructure and building services through its E-Infrastructure Solutions, Transportation Solutions and Building Solutions segments.

E-Infrastructure Solutions provides site development and related services for data centers, manufacturing facilities, distribution centers and other large-scale projects. Transportation Solutions builds and improves public infrastructure, including roads and bridges, while Building Solutions focuses on concrete foundations and other construction services for residential and commercial customers.

Formerly known as Sterling Construction Company, the business traces its roots to 1955 and adopted the Sterling Infrastructure name in 2022.