Sterling Infrastructure (NASDAQ:STRL) Sets New 1-Year High – Here’s What Happened

Shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) reached a new 52-week high during trading on Wednesday . The stock traded as high as $173.84 and last traded at $170.54, with a volume of 4322 shares changing hands. The stock had previously closed at $157.22.

Analyst Ratings Changes

Separately, StockNews.com cut Sterling Infrastructure from a “buy” rating to a “hold” rating in a research note on Sunday, September 15th.

Sterling Infrastructure Trading Up 11.1 %

The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.44. The business has a 50-day simple moving average of $141.64 and a 200-day simple moving average of $124.90. The company has a market cap of $5.37 billion, a PE ratio of 30.18, a price-to-earnings-growth ratio of 1.81 and a beta of 1.15.

Sterling Infrastructure (NASDAQ:STRL) last announced its earnings results on Monday, August 5th. The construction company reported $1.67 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.24. The company had revenue of $582.82 million during the quarter, compared to analysts’ expectations of $553.70 million. Sterling Infrastructure had a return on equity of 25.64% and a net margin of 7.85%. During the same period last year, the business posted $1.27 EPS. On average, analysts predict that Sterling Infrastructure, Inc. will post 5.66 EPS for the current fiscal year.

Insider Activity

In other news, EVP Ronald A. Ballschmiede sold 18,700 shares of the stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $143.59, for a total value of $2,685,133.00. Following the sale, the executive vice president now directly owns 248,471 shares in the company, valued at approximately $35,677,950.89. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.80% of the company’s stock.

Institutional Trading of Sterling Infrastructure

A number of large investors have recently made changes to their positions in STRL. Capital Performance Advisors LLP purchased a new position in Sterling Infrastructure in the third quarter worth approximately $26,000. Hantz Financial Services Inc. acquired a new stake in shares of Sterling Infrastructure in the 2nd quarter valued at $30,000. Huntington National Bank lifted its position in shares of Sterling Infrastructure by 21,300.0% during the 3rd quarter. Huntington National Bank now owns 214 shares of the construction company’s stock worth $31,000 after purchasing an additional 213 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in shares of Sterling Infrastructure by 391.1% during the second quarter. Nisa Investment Advisors LLC now owns 275 shares of the construction company’s stock worth $33,000 after purchasing an additional 219 shares in the last quarter. Finally, Crewe Advisors LLC increased its holdings in Sterling Infrastructure by 85.4% in the second quarter. Crewe Advisors LLC now owns 293 shares of the construction company’s stock valued at $35,000 after buying an additional 135 shares during the last quarter. 80.95% of the stock is currently owned by hedge funds and other 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.