Sterling Infrastructure (NASDAQ:STRL) Downgraded by Wall Street Zen to Buy

Key Points

• Sterling Infrastructure was downgraded by Wall Street Zen from a "strong-buy" to a "buy" rating, indicating a shift in analyst sentiment.
• DA Davidson raised the price target for Sterling Infrastructure shares from $265.00 to $355.00, with a consensus rating of "Buy" among investment analysts.
• Major institutional investors have increased their holdings in Sterling Infrastructure, with Millennium Management boosting its stake by 743.9% in the first quarter.

Sterling Infrastructure (NASDAQ:STRL - Get Free Report) was downgraded by analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research report issued to clients and investors on Saturday.

Separately, DA Davidson raised their price objective on shares of Sterling Infrastructure from $265.00 to $355.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Sterling Infrastructure has an average rating of "Buy" and an average price target of $355.00.

Sterling Infrastructure Price Performance

Shares of NASDAQ:STRL traded up $14.86 during midday trading on Friday, reaching $288.68. 497,179 shares of the company's stock were exchanged, compared to its average volume of 423,017. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.42 and a current ratio of 1.42. The firm has a market capitalization of $8.78 billion, a PE ratio of 31.38, a price-to-earnings-growth ratio of 2.02 and a beta of 1.35. Sterling Infrastructure has a 12 month low of $96.34 and a 12 month high of $321.79. The company's 50 day simple moving average is $264.78 and its two-hundred day simple moving average is $193.39.

Insider Buying and Selling at Sterling Infrastructure

In other Sterling Infrastructure news, General Counsel Mark D. Wolf sold 3,500 shares of Sterling Infrastructure stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $225.87, for a total transaction of $790,545.00. Following the transaction, the general counsel directly owned 29,315 shares of the company's stock, valued at approximately $6,621,379.05. The trade was a 10.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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 transaction, the director owned 16,498 shares of the company's stock, valued at $3,408,156.84. This trade represents a 38.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Sterling Infrastructure

Hedge funds and other institutional investors have recently bought and sold shares of the company. Hantz Financial Services Inc. lifted its holdings in shares of Sterling Infrastructure by 16.1% in the second quarter. Hantz Financial Services Inc. now owns 295 shares of the construction company's stock valued at $68,000 after purchasing an additional 41 shares in the last quarter. CWC Advisors LLC. raised its holdings in shares of Sterling Infrastructure by 2.4% in the 2nd quarter. CWC Advisors LLC. now owns 1,858 shares of the construction company's stock worth $429,000 after purchasing an additional 43 shares during the period. Richardson Financial Services Inc. lifted its stake in Sterling Infrastructure by 32.9% in the second quarter. Richardson Financial Services Inc. now owns 190 shares of the construction company's stock valued at $42,000 after purchasing an additional 47 shares during the last quarter. Private Trust Co. NA grew its holdings in Sterling Infrastructure by 9.4% during the second quarter. Private Trust Co. NA now owns 591 shares of the construction company's stock valued at $136,000 after purchasing an additional 51 shares during the period. Finally, Golden State Wealth Management LLC grew its stake in shares of 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. Institutional investors and hedge funds own 80.95% of the company's stock.

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.