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

Key Points

• Sterling Infrastructure (NASDAQ:STRL) reached a new 52-week high of $326.61, up from its previous close of $313.56, indicating strong investor interest with a trading volume of 127,463 shares.
• Analysts have recently upgraded Sterling Infrastructure to a "strong-buy" rating, with a new price target of $355.00, suggesting positive long-term prospects for the company.
• Institutional investors own approximately 80.95% of Sterling Infrastructure, indicating strong confidence in the company's growth potential, as several major investors have increased their stakes recently.

Sterling Infrastructure, Inc. (NASDAQ:STRL - Get Free Report) shares hit a new 52-week high on Monday . The company traded as high as $326.00 and last traded at $326.61, with a volume of 127463 shares trading hands. The stock had previously closed at $313.56.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on STRL shares. Wall Street Zen raised shares of Sterling Infrastructure from a "buy" rating to a "strong-buy" rating in a research report on Saturday, September 13th. Zacks Research upgraded shares of Sterling Infrastructure from a "hold" rating to a "strong-buy" rating in a report on Friday, September 5th. Finally, DA Davidson upped 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. One investment analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $355.00.

Sterling Infrastructure Price Performance

The firm has a market cap of $10.96 billion, a price-to-earnings ratio of 39.16, a P/E/G ratio of 2.58 and a beta of 1.35. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.31. The business's 50-day simple moving average is $282.77 and its two-hundred day simple moving average is $208.04.

Insider Activity

In other news, 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 value of $790,545.00. Following the sale, the general counsel directly owned 29,315 shares of the company's stock, valued at approximately $6,621,379.05. This represents a 10.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 3.70% of the company's stock.

Hedge Funds Weigh In On Sterling Infrastructure

A number of institutional investors and hedge funds have recently modified their holdings of STRL. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of Sterling Infrastructure during the 2nd quarter worth $26,000. Ameritas Advisory Services LLC purchased a new position in shares of Sterling Infrastructure during the second quarter worth $29,000. Bessemer Group Inc. increased its holdings in Sterling Infrastructure by 119.3% during the 2nd quarter. Bessemer Group Inc. now owns 125 shares of the construction company's stock worth $29,000 after purchasing an additional 68 shares during the period. Rakuten Securities Inc. increased its position in shares of Sterling Infrastructure by 6,950.0% during the second quarter. Rakuten Securities Inc. now owns 141 shares of the construction company's stock worth $33,000 after purchasing an additional 139 shares in the last quarter. Finally, Golden State Wealth Management LLC increased its position in Sterling Infrastructure by 54.8% in the 2nd quarter. Golden State Wealth Management LLC now owns 144 shares of the construction company's stock valued at $33,000 after acquiring an additional 51 shares during the period. Hedge funds and other institutional investors 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.