Sterling Infrastructure (NASDAQ:STRL) Hits New 52-Week High - Time to Buy?

Key Points

• Sterling Infrastructure (NASDAQ: STRL) reached a new 52-week high of $376.75, with a trading volume of 90,673 shares, signaling strong market performance.
• Analysts have a positive outlook on the company, with a consensus rating of "Buy" and an average price target of $355.00.
• Institutional investors hold approximately 80.95% of Sterling Infrastructure's stock, indicating significant institutional confidence in the company's potential.

Sterling Infrastructure, Inc. (NASDAQ:STRL - Get Free Report) shares reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $376.75 and last traded at $372.18, with a volume of 90673 shares trading hands. The stock had previously closed at $365.39.

Wall Street Analyst Weigh In

Several research firms have issued reports on STRL. DA Davidson lifted their target price on Sterling Infrastructure from $265.00 to $355.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Zacks Research upgraded Sterling Infrastructure from a "hold" rating to a "strong-buy" rating in a research note on Friday, September 5th. Wall Street Zen lowered Sterling Infrastructure from a "strong-buy" rating to a "buy" rating in a research note on Friday, September 26th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Sterling Infrastructure in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company. According to 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 $11.33 billion, a PE ratio of 40.45, a price-to-earnings-growth ratio of 2.67 and a beta of 1.38. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.31. The stock has a 50 day moving average price of $315.74 and a two-hundred day moving average price of $236.55.

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

Institutional Investors Weigh In On Sterling Infrastructure

A number of institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Sterling Infrastructure by 6.3% during the first quarter. Vanguard Group Inc. now owns 2,682,995 shares of the construction company's stock worth $303,742,000 after purchasing an additional 159,191 shares during the period. Fuller & Thaler Asset Management Inc. lifted its holdings in Sterling Infrastructure by 7.5% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 1,498,999 shares of the construction company's stock valued at $169,702,000 after acquiring an additional 105,222 shares during the period. State Street Corp lifted its holdings in Sterling Infrastructure by 62.0% in the second quarter. State Street Corp now owns 1,131,751 shares of the construction company's stock valued at $261,129,000 after acquiring an additional 433,311 shares during the period. Geode Capital Management LLC lifted its holdings in Sterling Infrastructure by 0.5% in the second quarter. Geode Capital Management LLC now owns 739,302 shares of the construction company's stock valued at $170,600,000 after acquiring an additional 3,469 shares during the period. Finally, Invesco Ltd. lifted its holdings in Sterling Infrastructure by 82.7% in the second quarter. Invesco Ltd. now owns 735,910 shares of the construction company's stock valued at $169,797,000 after acquiring an additional 333,013 shares during the period. Institutional investors and hedge funds own 80.95% of the company's stock.

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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