Sterling Infrastructure (NASDAQ:STRL) Hits New 12-Month High - Time to Buy?

Shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Get Free Report) hit a new 52-week high during trading on Thursday . The stock traded as high as $258.00 and last traded at $252.56, with a volume of 140796 shares. The stock had previously closed at $253.14.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. DA Davidson raised their price target on Sterling Infrastructure from $205.00 to $265.00 and gave the stock a "buy" rating in a research report on Wednesday, June 18th. Wall Street Zen cut shares of Sterling Infrastructure from a "buy" rating to a "hold" rating in a report on Saturday, July 5th.

Sterling Infrastructure Stock Performance

The stock has a 50-day moving average price of $215.15 and a 200 day moving average price of $167.40. The firm has a market capitalization of $7.72 billion, a price-to-earnings ratio of 29.67, a P/E/G ratio of 2.00 and a beta of 1.40. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.34.

Insider Buying and Selling

In related news, Director Dana C. O'brien sold 10,154 shares of the company's stock in a transaction that occurred on 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 completion of the transaction, the director directly owned 16,498 shares of the company's stock, valued at $3,408,156.84. This represents a 38.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Mark D. Wolf sold 3,500 shares of the firm's stock in a transaction that occurred 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 approximately $6,621,379.05. The trade was a 10.67% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.70% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Sterling Infrastructure by 38.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 4,804 shares of the construction company's stock valued at $544,000 after acquiring an additional 1,337 shares during the period. D.A. Davidson & CO. raised its position in Sterling Infrastructure by 5.0% in the 1st quarter. D.A. Davidson & CO. now owns 2,424 shares of the construction company's stock valued at $274,000 after purchasing an additional 116 shares during the last quarter. Hudson Edge Investment Partners Inc. acquired a new stake in Sterling Infrastructure during the 1st quarter worth $823,000. Sowell Financial Services LLC purchased a new position in Sterling Infrastructure during the 1st quarter worth $215,000. Finally, Oppenheimer Asset Management Inc. acquired a new position in Sterling Infrastructure in the first quarter valued at $370,000. 80.95% of the stock is owned by hedge funds and other institutional investors.

Sterling Infrastructure Company Profile

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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