Sterling Infrastructure (NASDAQ:STRL) Stock Price Up 5.9% – Here’s Why

Sterling Infrastructure, Inc. (NASDAQ:STRL) shares were up 5.9% on Tuesday . The stock traded as high as $114.69 and last traded at $115.09. Approximately 995,453 shares changed hands during mid-day trading, an increase of 84% from the average daily volume of 541,830 shares. The stock had previously closed at $108.65.

Analysts Set New Price Targets

A number of equities analysts have commented on STRL shares. William Blair began coverage on shares of Sterling Infrastructure in a research note on Friday, January 17th. They issued an “outperform” rating for the company. StockNews.com upgraded Sterling Infrastructure from a “hold” rating to a “buy” rating in a research report on Thursday, February 20th.

Sterling Infrastructure Price Performance

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 company has a market capitalization of $3.58 billion, a PE ratio of 19.69, a price-to-earnings-growth ratio of 1.28 and a beta of 1.24. The stock’s 50-day moving average is $159.33 and its two-hundred day moving average is $155.01.

Insider Transactions at Sterling Infrastructure

In related news, Director Dana C. O’brien sold 2,000 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $175.89, for a total value of $351,780.00. Following the transaction, the director now owns 25,901 shares of the company’s stock, valued at $4,555,726.89. This represents a 7.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On Sterling Infrastructure

Several hedge funds have recently made changes to their positions in STRL. Creative Planning raised its position in shares of Sterling Infrastructure by 53.5% in the 3rd quarter. Creative Planning now owns 4,687 shares of the construction company’s stock worth $680,000 after acquiring an additional 1,634 shares in the last quarter. Signaturefd LLC grew its stake in Sterling Infrastructure by 119.3% in the third quarter. Signaturefd LLC now owns 296 shares of the construction company’s stock valued at $43,000 after purchasing an additional 161 shares during the last quarter. International Assets Investment Management LLC raised its holdings 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 purchasing an additional 141,120 shares in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Sterling Infrastructure during the third quarter valued at about $437,000. Finally, Pallas Capital Advisors LLC bought a new stake in shares of Sterling Infrastructure in the 3rd quarter valued at about $232,000. 80.95% of the stock is currently owned by hedge funds and other institutional investors.

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.