Sterling Infrastructure (NASDAQ:STRL) Shares Up 11.6% - Here's What Happened

Key Points

• Sterling Infrastructure shares rose 11.6% in Monday’s midday trading, reaching about $282; trading volume was down 84% from the average session volume.
• The company reported quarterly earnings of $7.58 per share, beating the $6.20 consensus estimate, while revenue of $1.56 billion topped forecasts and increased 127% year over year.
• Analysts have a consensus “Moderate Buy” rating, based on six Buy and two Hold ratings, with an average price target of $729.83.

Sterling Infrastructure, Inc. (NASDAQ:STRL - Get Free Report)'s stock price was up 11.6% during mid-day trading on Monday. The stock traded as high as $280.00 and last traded at $282.0560. Approximately 105,601 shares were traded during mid-day trading, a decline of 84% from the average session volume of 668,650 shares. The stock had previously closed at $252.82.

Analyst Ratings Changes

STRL has been the topic of a number of recent research reports. Stifel Nicolaus dropped their target price on Sterling Infrastructure from $804.00 to $742.00 and set a "buy" rating on the stock in a research report on Thursday, October 8th. Cantor Fitzgerald reissued an "overweight" rating and set a $742.00 price target on shares of Sterling Infrastructure in a research report on Thursday, October 29th. Weiss Ratings cut shares of Sterling Infrastructure from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday, September 9th. KeyCorp upped their price objective on shares of Sterling Infrastructure from $754.00 to $755.00 and gave the company an "overweight" rating in a report on Thursday, October 15th. Finally, DA Davidson dropped their price objective on shares of Sterling Infrastructure from $700.00 to $680.00 and set a "buy" rating on the stock in a report on Friday, October 30th. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Sterling Infrastructure presently has a consensus rating of "Moderate Buy" and an average target price of $729.83.

Sterling Infrastructure Trading Up 13.7%

The firm has a market cap of $8.76 billion, a price-to-earnings ratio of 16.19, a PEG ratio of 0.47 and a beta of 1.97. The company has a fifty day moving average price of $452.01 and a 200-day moving average price of $548.82. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.06.

Sterling Infrastructure (NASDAQ:STRL - Get Free Report) last posted its earnings results on Wednesday, October 28th. The construction company reported $7.58 EPS for the quarter, topping the consensus estimate of $6.20 by $1.38. The firm had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.19 billion. Sterling Infrastructure had a return on equity of 45.97% and a net margin of 12.85%. The firm's revenue for the quarter was up 127.0% on a year-over-year basis. As a group, research analysts expect that Sterling Infrastructure, Inc. will post 20.96 EPS for the current year.

Institutional Trading of Sterling Infrastructure

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Channel Wealth LLC acquired a new stake in shares of Sterling Infrastructure during the third quarter worth about $294,000. GKV Capital Management Co. Inc. boosted its position in shares of Sterling Infrastructure by 465.4% in the 3rd quarter. GKV Capital Management Co. Inc. now owns 5,682 shares of the construction company's stock valued at $2,794,000 after purchasing an additional 4,677 shares during the period. Pier 88 Investment Partners LLC boosted its position in shares of Sterling Infrastructure by 40.0% in the 3rd quarter. Pier 88 Investment Partners LLC now owns 700 shares of the construction company's stock valued at $344,000 after purchasing an additional 200 shares during the period. Maryland State Retirement & Pension System grew its stake in Sterling Infrastructure by 15.4% during the 3rd quarter. Maryland State Retirement & Pension System now owns 1,861 shares of the construction company's stock worth $915,000 after buying an additional 248 shares during the last quarter. Finally, Jacobi Capital Management LLC purchased a new position in Sterling Infrastructure during the 3rd quarter worth approximately $73,000. Institutional investors and hedge funds own 80.95% of the company's stock.

Sterling Infrastructure Company Profile

Sterling Infrastructure, Inc NASDAQ: STRL is a U.S.-based construction company that delivers infrastructure and building services through its E-Infrastructure Solutions, Transportation Solutions and Building Solutions segments.

E-Infrastructure Solutions provides site development and related services for data centers, manufacturing facilities, distribution centers and other large-scale projects. Transportation Solutions builds and improves public infrastructure, including roads and bridges, while Building Solutions focuses on concrete foundations and other construction services for residential and commercial customers.

Formerly known as Sterling Construction Company, the business traces its roots to 1955 and adopted the Sterling Infrastructure name in 2022.

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