Sterling Infrastructure (NASDAQ:STRL) Stock Crosses Above Two Hundred Day Moving Average – What’s Next?

Sterling Infrastructure, Inc. (NASDAQ:STRL) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $144.38 and traded as high as $172.37. Sterling Infrastructure shares last traded at $167.73, with a volume of 251,720 shares trading hands.

Analyst Ratings Changes

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

Sterling Infrastructure Stock Up 5.8 %

The stock has a market cap of $5.45 billion, a P/E ratio of 29.98, a P/E/G ratio of 2.02 and a beta of 1.22. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.41. The firm’s fifty day moving average is $179.97 and its 200 day moving average is $144.78.

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

Insider Buying and Selling

In other news, Director Dana C. O’brien sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $175.89, for a total transaction of $351,780.00. Following the sale, the director now directly owns 25,901 shares in the company, valued at approximately $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 accessible through the SEC website. 3.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Sterling Infrastructure

A number of institutional investors have recently bought and sold shares of STRL. Geode Capital Management LLC boosted its position in shares of Sterling Infrastructure by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 719,980 shares of the construction company’s stock valued at $104,431,000 after acquiring an additional 3,918 shares in the last quarter. State Street Corp lifted its stake in Sterling Infrastructure by 0.7% during the third quarter. State Street Corp now owns 713,234 shares of the construction company’s stock worth $103,433,000 after purchasing an additional 5,106 shares during the period. Congress Asset Management Co. boosted its holdings in Sterling Infrastructure by 19.1% during the third quarter. Congress Asset Management Co. now owns 647,924 shares of the construction company’s stock valued at $93,962,000 after purchasing an additional 104,096 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Sterling Infrastructure by 19.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 617,901 shares of the construction company’s stock valued at $89,608,000 after purchasing an additional 102,101 shares during the period. Finally, Driehaus Capital Management LLC raised its holdings in shares of Sterling Infrastructure by 11.4% in the 2nd quarter. Driehaus Capital Management LLC now owns 533,606 shares of the construction company’s stock worth $63,147,000 after buying an additional 54,727 shares in the last quarter. Institutional investors and hedge funds own 80.95% of the company’s stock.

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.