Sterling Infrastructure (NASDAQ:STRL) Hits New 12-Month High - What's Next?

Sterling Infrastructure, Inc. (NASDAQ:STRL - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $237.70 and last traded at $237.26, with a volume of 148654 shares traded. The stock had previously closed at $228.72.

Wall Street Analysts Forecast Growth

A number of research firms have commented on STRL. DA Davidson increased their price objective on shares of Sterling Infrastructure from $205.00 to $265.00 and gave the company a "buy" rating in a research note on Wednesday, June 18th. Wall Street Zen raised shares of Sterling Infrastructure from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd.

Sterling Infrastructure Trading Up 3.6%

The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.34. The company has a market cap of $7.21 billion, a price-to-earnings ratio of 27.68, a price-to-earnings-growth ratio of 1.89 and a beta of 1.40. The firm has a 50-day moving average price of $194.73 and a 200 day moving average price of $160.78.

Insider Buying and Selling at Sterling Infrastructure

In other news, General Counsel Mark D. Wolf sold 3,500 shares of Sterling Infrastructure stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $225.87, for a total value of $790,545.00. Following the completion of the transaction, the general counsel directly owned 29,315 shares of the company's stock, valued at approximately $6,621,379.05. The trade was a 10.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Dana C. O'brien sold 10,154 shares of the stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $206.58, for a total transaction of $2,097,613.32. Following the sale, the director owned 16,498 shares in the company, valued at approximately $3,408,156.84. This trade represents a 38.10% decrease in their position. The disclosure for this sale can be found here. Company insiders own 3.70% of the company's stock.

Hedge Funds Weigh In On Sterling Infrastructure

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Sowell Financial Services LLC acquired a new stake in shares of Sterling Infrastructure during the 1st quarter worth approximately $215,000. EFG Asset Management North America Corp. grew its stake in Sterling Infrastructure by 58.6% during the 4th quarter. EFG Asset Management North America Corp. now owns 37,015 shares of the construction company's stock worth $6,236,000 after buying an additional 13,682 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Sterling Infrastructure by 13.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,583 shares of the construction company's stock worth $1,446,000 after buying an additional 1,043 shares during the period. Cambridge Investment Research Advisors Inc. increased its position in Sterling Infrastructure by 11.7% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 31,429 shares of the construction company's stock worth $3,558,000 after buying an additional 3,284 shares during the period. Finally, Advantage Alpha Capital Partners LP bought a new stake in Sterling Infrastructure in the fourth quarter valued at $1,981,000. 80.95% of the stock is currently 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.