Sterling Infrastructure (NASDAQ:STRL) Shares Gap Down – Here’s What Happened

Sterling Infrastructure, Inc. (NASDAQ:STRL) shares gapped down prior to trading on Monday . The stock had previously closed at $121.37, but opened at $115.94. Sterling Infrastructure shares last traded at $117.79, with a volume of 56,937 shares trading hands.

Wall Street Analyst Weigh In

STRL has been the topic of several analyst reports. DA Davidson upgraded Sterling Infrastructure from a “neutral” rating to a “buy” rating and set a $185.00 target price on the stock in a research note on Thursday, February 27th. William Blair initiated coverage on Sterling Infrastructure in a research note on Friday, January 17th. They issued an “outperform” rating on the stock. Finally, StockNews.com upgraded Sterling Infrastructure from a “hold” rating to a “buy” rating in a research note on Thursday, March 6th.

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 firm has a market cap of $3.66 billion, a price-to-earnings ratio of 20.16, a P/E/G ratio of 1.28 and a beta of 1.32. The firm has a fifty day simple moving average of $144.56 and a two-hundred day simple moving average of $155.73.

Insiders Place Their Bets

In related news, Director Dana C. O’brien sold 2,000 shares of Sterling Infrastructure stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $175.89, for a total transaction of $351,780.00. Following the completion of the sale, the director now owns 25,901 shares of the company’s stock, valued at $4,555,726.89. The trade was a 7.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On Sterling Infrastructure

A number of institutional investors and hedge funds have recently modified their holdings of STRL. Quarry LP lifted its holdings in Sterling Infrastructure by 510.7% in the third quarter. Quarry LP now owns 171 shares of the construction company’s stock valued at $25,000 after acquiring an additional 143 shares during the period. Huntington National Bank lifted its holdings in Sterling Infrastructure by 21,300.0% in the third quarter. Huntington National Bank now owns 214 shares of the construction company’s stock valued at $31,000 after acquiring an additional 213 shares during the period. SBI Securities Co. Ltd. acquired a new position in Sterling Infrastructure in the fourth quarter valued at approximately $39,000. National Bank of Canada FI acquired a new position in Sterling Infrastructure in the fourth quarter valued at approximately $56,000. Finally, Arcadia Investment Management Corp MI acquired a new position in Sterling Infrastructure in the fourth quarter valued at approximately $71,000. Institutional investors and hedge funds own 80.95% of the company’s stock.

About Sterling Infrastructure

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.