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

Sterling Infrastructure, Inc. (NASDAQ:STRL) shares reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $202.50 and last traded at $201.91, with a volume of 258567 shares changing hands. The stock had previously closed at $196.33.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of Sterling Infrastructure from a “buy” rating to a “hold” rating in a report on Sunday, September 15th.

Sterling Infrastructure Stock Performance

The company has a debt-to-equity ratio of 0.41, a current ratio of 1.29 and a quick ratio of 1.29. The stock has a 50-day moving average price of $161.84 and a 200-day moving average price of $132.95. The firm has a market capitalization of $6.13 billion, a PE ratio of 33.16, a price-to-earnings-growth ratio of 2.20 and a beta of 1.15.

Sterling Infrastructure (NASDAQ:STRL) last announced its earnings results on Wednesday, November 6th. The construction company reported $1.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.29. The company had revenue of $593.74 million for the quarter, compared to analyst estimates of $599.90 million. Sterling Infrastructure had a return on equity of 27.52% and a net margin of 8.77%. During the same period in the prior year, the company posted $1.26 EPS. On average, research analysts expect that Sterling Infrastructure, Inc. will post 5.96 EPS for the current fiscal year.

Insider Activity

In related news, EVP Ronald A. Ballschmiede sold 18,700 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $143.59, for a total transaction of $2,685,133.00. Following the sale, the executive vice president now directly owns 248,471 shares of the company’s stock, valued at approximately $35,677,950.89. This represents a 7.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 3.80% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC raised its stake in Sterling Infrastructure by 691.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 515,800 shares of the construction company’s stock worth $61,040,000 after acquiring an additional 450,620 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Sterling Infrastructure by 1,088.1% in the 3rd quarter. Principal Financial Group Inc. now owns 355,546 shares of the construction company’s stock worth $51,561,000 after purchasing an additional 325,620 shares during the last quarter. F M Investments LLC bought a new position in Sterling Infrastructure during the 2nd quarter worth $18,379,000. International Assets Investment Management LLC increased its position in Sterling Infrastructure by 14,112.0% in the third quarter. International Assets Investment Management LLC now owns 142,120 shares of the construction company’s stock worth $20,610,000 after buying an additional 141,120 shares during the period. Finally, Congress Asset Management Co. lifted its stake in Sterling Infrastructure by 19.1% in the third quarter. Congress Asset Management Co. now owns 647,924 shares of the construction company’s stock valued at $93,962,000 after buying an additional 104,096 shares during the last quarter. 80.95% of the stock is currently owned by institutional investors.

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.