Sterling Infrastructure (NASDAQ:STRL) Trading 7.6% Higher – What’s Next?

Sterling Infrastructure, Inc. (NASDAQ:STRL)’s stock price traded up 7.6% during trading on Thursday . The company traded as high as $468.22 and last traded at $466.9030. 122,521 shares changed hands during trading, a decline of 73% from the average session volume of 447,474 shares. The stock had previously closed at $433.91.

Analyst Upgrades and Downgrades

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

Sterling Infrastructure Stock Down 0.6%

The business’s fifty day moving average price is $338.40 and its two-hundred day moving average price is $331.43. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a market capitalization of $13.25 billion, a P/E ratio of 42.30, a PEG ratio of 2.43 and a beta of 1.51.

Sterling Infrastructure declared that its board has initiated a stock buyback program on Wednesday, November 12th that permits the company to repurchase $400.00 million in outstanding shares. This repurchase authorization permits the construction company to repurchase up to 3.4% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

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

Institutional Trading of Sterling Infrastructure

A number of institutional investors and hedge funds have recently added to or reduced their stakes in STRL. Federated Hermes Inc. raised its stake in shares of Sterling Infrastructure by 64.5% in the fourth quarter. Federated Hermes Inc. now owns 54,090 shares of the construction company’s stock worth $16,564,000 after purchasing an additional 21,200 shares during the last quarter. Steward Partners Investment Advisory LLC increased its stake in shares of Sterling Infrastructure by 22.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,022 shares of the construction company’s stock worth $313,000 after acquiring an additional 184 shares during the period. Campbell & CO Investment Adviser LLC acquired a new position in Sterling Infrastructure during the fourth quarter valued at $4,168,000. CIBC Private Wealth Group LLC grew its position in Sterling Infrastructure by 29.0% during the 4th quarter. CIBC Private Wealth Group LLC now owns 240 shares of the construction company’s stock worth $73,000 after purchasing an additional 54 shares during the period. Finally, Wedbush Securities Inc. raised its stake in shares of Sterling Infrastructure by 14.0% during the 4th quarter. Wedbush Securities Inc. now owns 3,051 shares of the construction company’s stock valued at $934,000 after buying an additional 375 shares during the last quarter. Institutional investors and hedge funds 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.