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

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.

Shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Get Free Report) reached a new 52-week high during mid-day trading on Monday . The stock 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 Analyst Weigh In

STRL has been the topic of several research analyst reports. Wall Street Zen upgraded Sterling Infrastructure from a "buy" rating to a "strong-buy" rating in a report on Saturday. Zacks Research upgraded Sterling Infrastructure from a "hold" rating to a "strong-buy" rating in a report on Friday, September 5th. Finally, DA Davidson boosted their price objective on Sterling Infrastructure from $265.00 to $355.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $355.00.

Sterling Infrastructure Trading Up 3.0%

The firm has a market cap of $9.82 billion, a PE ratio of 35.10, a P/E/G ratio of 2.32 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 has a fifty day moving average price of $272.84 and a 200 day moving average price of $201.85.

Insider Activity at Sterling Infrastructure

In other news, General Counsel Mark D. Wolf sold 3,500 shares of the stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $225.87, for a total value of $790,545.00. Following the transaction, the general counsel owned 29,315 shares in the company, valued at approximately $6,621,379.05. This represents a 10.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 2.70% of the company's stock.

Institutional Trading of Sterling Infrastructure

A number of large investors have recently made changes to their positions in STRL. Ieq Capital LLC lifted its position in Sterling Infrastructure by 94.8% during the 1st quarter. Ieq Capital LLC now owns 8,144 shares of the construction company's stock worth $922,000 after acquiring an additional 3,963 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in shares of Sterling Infrastructure by 38.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 4,804 shares of the construction company's stock worth $544,000 after buying an additional 1,337 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Sterling Infrastructure by 30.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 78,454 shares of the construction company's stock worth $8,882,000 after buying an additional 18,254 shares in the last quarter. D.A. Davidson & CO. raised its stake in shares of Sterling Infrastructure by 5.0% during the 1st quarter. D.A. Davidson & CO. now owns 2,424 shares of the construction company's stock worth $274,000 after buying an additional 116 shares in the last quarter. Finally, Hudson Edge Investment Partners Inc. purchased a new position in shares of Sterling Infrastructure during the 1st quarter worth approximately $823,000. 80.95% of the stock is owned by institutional investors and hedge funds.

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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