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

Shares of Sterling Infrastructure, Inc. (NASDAQ:STRLGet Free Report) hit a new 52-week high during trading on Monday . The company traded as high as $159.47 and last traded at $159.47, with a volume of 14300 shares changing hands. The stock had previously closed at $157.10.

Wall Street Analyst Weigh In

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

Read Our Latest Research Report on Sterling Infrastructure

Sterling Infrastructure Trading Up 0.3 %

The firm has a market capitalization of $4.86 billion, a PE ratio of 33.28, a PEG ratio of 1.82 and a beta of 1.17. 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 stock’s fifty day simple moving average is $125.88 and its 200 day simple moving average is $118.61.

Sterling Infrastructure (NASDAQ:STRLGet Free Report) last posted its quarterly earnings results on Monday, August 5th. The construction company reported $1.67 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.24. The business had revenue of $582.82 million during the quarter, compared to analyst estimates of $553.70 million. Sterling Infrastructure had a net margin of 7.85% and a return on equity of 25.64%. During the same period in the prior year, the business posted $1.27 earnings per share. On average, sell-side analysts predict that Sterling Infrastructure, Inc. will post 5.66 earnings per share for the current year.

Insiders Place Their Bets

In other Sterling Infrastructure news, EVP Ronald A. Ballschmiede sold 18,700 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $143.59, for a total value of $2,685,133.00. Following the completion of the transaction, the executive vice president now directly owns 248,471 shares in the company, valued at $35,677,950.89. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On Sterling Infrastructure

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Sterling Infrastructure by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 1,887,792 shares of the construction company’s stock valued at $208,242,000 after buying an additional 8,851 shares in the last quarter. Congress Asset Management Co. MA lifted its holdings in shares of Sterling Infrastructure by 2.0% in the 1st quarter. Congress Asset Management Co. MA now owns 557,659 shares of the construction company’s stock valued at $61,515,000 after acquiring an additional 10,935 shares during the last quarter. Driehaus Capital Management LLC lifted 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 valued at $63,147,000 after acquiring an additional 54,727 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Sterling Infrastructure by 691.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 515,800 shares of the construction company’s stock valued at $61,040,000 after acquiring an additional 450,620 shares during the last quarter. Finally, Hennessy Advisors Inc. lifted its holdings in shares of Sterling Infrastructure by 20.4% in the 1st quarter. Hennessy Advisors Inc. now owns 440,200 shares of the construction company’s stock valued at $48,558,000 after acquiring an additional 74,500 shares during the last quarter. Institutional investors own 80.95% of the company’s stock.

About Sterling Infrastructure

(Get Free Report)

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.

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