Sterling Infrastructure (NASDAQ:STRL) Reaches New 1-Year High at $131.44

Sterling Infrastructure, Inc. (NASDAQ:STRL - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $131.44 and last traded at $129.45, with a volume of 44794 shares changing hands. The stock had previously closed at $128.87.

Analysts Set New Price Targets

Separately, DA Davidson reissued a "neutral" rating and set a $115.00 price objective (up from $86.00) on shares of Sterling Infrastructure in a report on Wednesday, February 28th.

Sterling Infrastructure Stock Down 0.6 %

The business's fifty day simple moving average is $107.67 and its 200 day simple moving average is $87.75. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.53. The stock has a market cap of $3.95 billion, a price-to-earnings ratio of 26.79, a price-to-earnings-growth ratio of 1.22 and a beta of 1.21.

Sterling Infrastructure (NASDAQ:STRL - Get Free Report) last released its quarterly earnings data on Monday, February 26th. The construction company reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.30. The business had revenue of $485.98 million for the quarter, compared to analyst estimates of $526.90 million. Sterling Infrastructure had a net margin of 7.47% and a return on equity of 25.06%. Equities analysts forecast that Sterling Infrastructure, Inc. will post 5.3 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Joseph A. Cutillo sold 33,214 shares of the stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $108.71, for a total transaction of $3,610,693.94. Following the completion of the sale, the chief executive officer now owns 695,245 shares of the company's stock, valued at $75,580,083.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Joseph A. Cutillo sold 40,713 shares of the firm's stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $111.74, for a total value of $4,549,270.62. Following the completion of the transaction, the chief executive officer now owns 606,455 shares in the company, valued at approximately $67,765,281.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Joseph A. Cutillo sold 33,214 shares of the company's stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $108.71, for a total value of $3,610,693.94. Following the sale, the chief executive officer now owns 695,245 shares in the company, valued at approximately $75,580,083.95. The disclosure for this sale can be found here. Insiders sold 198,172 shares of company stock worth $22,019,320 over the last ninety days. 3.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of STRL. Commonwealth Equity Services LLC acquired a new stake in Sterling Infrastructure in the 3rd quarter valued at about $437,000. Raymond James Financial Services Advisors Inc. bought a new stake in Sterling Infrastructure in the 3rd quarter valued at $619,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Sterling Infrastructure by 26.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,540 shares of the construction company's stock valued at $554,000 after purchasing an additional 1,564 shares during the last quarter. Meritage Portfolio Management boosted its position in Sterling Infrastructure by 5.5% during the third quarter. Meritage Portfolio Management now owns 14,932 shares of the construction company's stock worth $1,097,000 after purchasing an additional 772 shares during the period. Finally, Guardian Wealth Management Inc. increased its holdings in shares of Sterling Infrastructure by 38.6% in the third quarter. Guardian Wealth Management Inc. now owns 29,997 shares of the construction company's stock valued at $2,204,000 after purchasing an additional 8,361 shares during the last quarter. 80.95% of the stock is currently owned by 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.