Sterling Infrastructure (NASDAQ:STRL) Stock Rating Lowered by Wall Street Zen

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 research analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research report issued on Saturday.

Separately, DA Davidson upped their price target on shares of Sterling Infrastructure from $265.00 to $355.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $355.00.

Sterling Infrastructure Stock Down 0.6%

Shares of NASDAQ STRL traded down $1.62 during trading hours on Friday, hitting $276.91. 378,593 shares of the stock were exchanged, compared to its average volume of 648,299. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.31. The company has a market cap of $8.42 billion, a PE ratio of 30.10, a PEG ratio of 2.12 and a beta of 1.35. The firm has a fifty day moving average price of $261.65 and a 200-day moving average price of $191.15. Sterling Infrastructure has a 12 month low of $96.34 and a 12 month high of $321.79.

Insiders Place Their Bets

In related news, Director Dana C. O'brien sold 10,154 shares of the stock in a transaction on Monday, June 16th. The shares were 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 approximately $3,408,156.84. This represents a 38.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, General Counsel Mark D. Wolf sold 3,500 shares of the stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $225.87, for a total transaction of $790,545.00. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.70% of the company's stock.

Institutional Trading of Sterling Infrastructure

A number of hedge funds have recently added to or reduced their stakes in STRL. Sunbelt Securities Inc. lifted its holdings in Sterling Infrastructure by 689.7% during the first quarter. Sunbelt Securities Inc. now owns 229 shares of the construction company's stock valued at $26,000 after purchasing an additional 200 shares in the last quarter. Twin Peaks Wealth Advisors LLC purchased a new position in Sterling Infrastructure during the second quarter valued at $26,000. Versant Capital Management Inc lifted its holdings in Sterling Infrastructure by 355.8% during the first quarter. Versant Capital Management Inc now owns 237 shares of the construction company's stock valued at $27,000 after purchasing an additional 185 shares in the last quarter. Opal Wealth Advisors LLC purchased a new position in Sterling Infrastructure during the first quarter valued at $28,000. Finally, Ameritas Advisory Services LLC purchased a new position in Sterling Infrastructure during the second quarter valued at $29,000. 80.95% of the stock is 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.