Sterling Infrastructure (NASDAQ:STRL) Hits New 1-Year High - Here's What Happened

Key Points

• Sterling Infrastructure's shares reached a new **52-week high** of **$383.96**, closing at **$379.51** with a trading volume of **86,547 shares**.
• Brokerage firms have shown strong confidence in the stock, with **Weiss Ratings** maintaining a "buy" rating and **Zacks Research** upgrading it to "strong-buy".
• The company reported a revenue of **$403.58 million** and an **EPS of $0.64** in its last quarterly earnings, reflecting a **net margin of 13.33%**.

Shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Get Free Report) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $383.96 and last traded at $379.51, with a volume of 86547 shares changing hands. The stock had previously closed at $353.80.

Analyst Ratings Changes

A number of brokerages have issued reports on STRL. Weiss Ratings restated a "buy (b)" rating on shares of Sterling Infrastructure in a research report on Wednesday, October 8th. Zacks Research raised shares of Sterling Infrastructure from a "hold" rating to a "strong-buy" rating in a research note on Friday, September 5th. DA Davidson lifted their price objective 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. Finally, Wall Street Zen cut shares of Sterling Infrastructure from a "strong-buy" rating to a "buy" rating in a research note on Friday, September 26th. One investment analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $355.00.

Sterling Infrastructure Trading Up 7.4%

The company has a market cap of $11.56 billion, a price-to-earnings ratio of 41.31, a price-to-earnings-growth ratio of 2.46 and a beta of 1.38. The business's fifty day moving average price is $322.96 and its 200 day moving average price is $246.65. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.42 and a quick ratio of 1.42.

Sterling Infrastructure (NASDAQ:STRL - Get Free Report) last issued its quarterly earnings results on Monday, June 3rd. The construction company reported $0.64 EPS for the quarter. The company had revenue of $403.58 million for the quarter. Sterling Infrastructure had a net margin of 13.33% and a return on equity of 27.93%. Research analysts anticipate that Sterling Infrastructure, Inc. will post 5.98 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sterling Infrastructure

Hedge funds and other institutional investors have recently bought and sold shares of the company. Sunbelt Securities Inc. lifted its holdings in Sterling Infrastructure by 689.7% in the first quarter. Sunbelt Securities Inc. now owns 229 shares of the construction company's stock valued at $26,000 after buying an additional 200 shares during the period. Twin Peaks Wealth Advisors LLC acquired a new position in shares of Sterling Infrastructure during the second quarter valued at about $26,000. Ameritas Advisory Services LLC acquired a new position in shares of Sterling Infrastructure during the second quarter valued at about $29,000. Bessemer Group Inc. raised its holdings in shares of Sterling Infrastructure by 119.3% during the second quarter. Bessemer Group Inc. now owns 125 shares of the construction company's stock valued at $29,000 after purchasing an additional 68 shares during the period. Finally, Golden State Wealth Management LLC increased its position in shares of Sterling Infrastructure by 54.8% during the second 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 in the last quarter. 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.

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