DA Davidson Forecasts Strong Price Appreciation for Sterling Infrastructure (NASDAQ:STRL) Stock

Key Points

• DA Davidson has raised the price target for Sterling Infrastructure (NASDAQ:STRL) from $265.00 to $355.00, suggesting a potential upside of 17.62%.
• Wall Street Zen downgraded Sterling Infrastructure's rating from "buy" to "hold" in recent assessments.
• Insider activity revealed that Director Dana C. O'Brien sold 10,154 shares, reducing their position by 38.10%, while institutional investors have shown significant interest with multiple fund holdings increasing.

Sterling Infrastructure (NASDAQ:STRL - Free Report) had its price target hoisted by DA Davidson from $265.00 to $355.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the construction company's stock.

Separately, Wall Street Zen downgraded Sterling Infrastructure from a "buy" rating to a "hold" rating in a report on Saturday, July 5th.

Sterling Infrastructure Stock Performance

STRL stock traded up $3.05 during trading on Wednesday, reaching $302.69. The stock had a trading volume of 317,044 shares, compared to its average volume of 526,336. Sterling Infrastructure has a 52 week low of $96.34 and a 52 week high of $321.79. The stock's 50 day moving average is $236.73 and its two-hundred day moving average is $175.48. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.31. The firm has a market cap of $9.21 billion, a PE ratio of 32.90, a PEG ratio of 2.30 and a beta of 1.46.

Insider Activity

In other news, General Counsel Mark D. Wolf sold 3,500 shares of the firm's stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $225.87, for a total value of $790,545.00. Following the transaction, the general counsel owned 29,315 shares of the company's stock, valued at $6,621,379.05. This trade represents a 10.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Dana C. O'brien sold 10,154 shares of the firm's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $206.58, for a total value of $2,097,613.32. Following the completion of the transaction, the director directly owned 16,498 shares in the company, valued at $3,408,156.84. This trade represents a 38.10% decrease in their position. The disclosure for this sale can be found here. 2.70% of the stock is owned by company insiders.

Institutional Trading of Sterling Infrastructure

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cetera Investment Advisers raised its stake in Sterling Infrastructure by 77.0% during the 2nd quarter. Cetera Investment Advisers now owns 38,434 shares of the construction company's stock valued at $8,868,000 after purchasing an additional 16,716 shares during the period. Creative Planning grew its holdings in Sterling Infrastructure by 43.6% during the 2nd quarter. Creative Planning now owns 10,313 shares of the construction company's stock valued at $2,380,000 after buying an additional 3,130 shares in the last quarter. SG Americas Securities LLC purchased a new position in Sterling Infrastructure during the 2nd quarter valued at approximately $848,000. Meridian Wealth Management LLC purchased a new position in Sterling Infrastructure during the 2nd quarter valued at approximately $236,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in Sterling Infrastructure during the 2nd quarter valued at approximately $1,802,000. Institutional investors 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.