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 - Get Free Report) had its price objective raised by research analysts at DA Davidson from $265.00 to $355.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a "buy" rating on the construction company's stock. DA Davidson's target price points to a potential upside of 17.62% from the company's current price.

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

Sterling Infrastructure Trading Up 1.8%

Sterling Infrastructure stock traded up $5.25 during midday trading on Wednesday, reaching $301.83. The stock had a trading volume of 326,669 shares, compared to its average volume of 671,090. Sterling Infrastructure has a twelve month low of $96.34 and a twelve month high of $321.79. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.32 and a quick ratio of 1.32. The firm has a market cap of $9.18 billion, a price-to-earnings ratio of 32.84, a PEG ratio of 2.25 and a beta of 1.46. The firm's fifty day simple moving average is $229.94 and its two-hundred day simple moving average is $173.39.

Insider Activity at Sterling Infrastructure

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Savant Capital LLC raised its holdings in shares of Sterling Infrastructure by 54.6% in the 2nd quarter. Savant Capital LLC now owns 11,555 shares of the construction company's stock valued at $2,666,000 after buying an additional 4,079 shares during the period. Horizon Investment Services LLC lifted its position in Sterling Infrastructure by 1.0% during the 2nd quarter. Horizon Investment Services LLC now owns 14,209 shares of the construction company's stock worth $3,278,000 after acquiring an additional 145 shares during the period. Golden State Wealth Management LLC lifted its position in Sterling Infrastructure by 54.8% during the 2nd quarter. Golden State Wealth Management LLC now owns 144 shares of the construction company's stock worth $33,000 after acquiring an additional 51 shares during the period. First Horizon Advisors Inc. raised its stake in shares of Sterling Infrastructure by 111.2% during the 2nd quarter. First Horizon Advisors Inc. now owns 226 shares of the construction company's stock worth $52,000 after buying an additional 119 shares in the last quarter. Finally, Blue Barn Wealth LLC purchased a new position in shares of Sterling Infrastructure during the 2nd quarter worth approximately $215,000. 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.

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