Sterling Infrastructure (NASDAQ:STRL) Reaches New 1-Year High - Still a Buy?

Sterling Infrastructure, Inc. (NASDAQ:STRL - Get Free Report) shares hit a new 52-week high during mid-day trading on Friday . The company traded as high as $235.23 and last traded at $231.51, with a volume of 1018651 shares trading hands. The stock had previously closed at $228.65.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on STRL shares. DA Davidson upped their price target on Sterling Infrastructure from $205.00 to $265.00 and gave the company a "buy" rating in a report on Wednesday, June 18th. Wall Street Zen raised Sterling Infrastructure from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd.

Sterling Infrastructure Price Performance

The firm has a market capitalization of $7.04 billion, a price-to-earnings ratio of 27.05, a P/E/G ratio of 1.89 and a beta of 1.37. The company has a fifty day moving average price of $187.38 and a two-hundred day moving average price of $159.49. 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 Transactions at Sterling Infrastructure

In other news, General Counsel Mark D. Wolf sold 3,500 shares of the company'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 completion of the sale, the general counsel now owns 29,315 shares in the company, valued at $6,621,379.05. This represents a 10.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 sale, the director now owns 16,498 shares of the company's stock, valued at $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.

Institutional Investors Weigh In On Sterling Infrastructure

Several large investors have recently modified their holdings of the stock. IFP Advisors Inc raised its position in Sterling Infrastructure by 102.8% in the fourth quarter. IFP Advisors Inc now owns 657 shares of the construction company's stock worth $111,000 after acquiring an additional 333 shares in the last quarter. Los Angeles Capital Management LLC raised its position in Sterling Infrastructure by 29.3% in the fourth quarter. Los Angeles Capital Management LLC now owns 23,826 shares of the construction company's stock worth $4,013,000 after acquiring an additional 5,396 shares in the last quarter. Kovack Advisors Inc. raised its position in Sterling Infrastructure by 3.2% in the fourth quarter. Kovack Advisors Inc. now owns 2,914 shares of the construction company's stock worth $491,000 after acquiring an additional 91 shares in the last quarter. GW&K Investment Management LLC raised its position in Sterling Infrastructure by 3.4% in the fourth quarter. GW&K Investment Management LLC now owns 363,251 shares of the construction company's stock worth $61,190,000 after acquiring an additional 12,064 shares in the last quarter. Finally, Jones Financial Companies Lllp raised its position in Sterling Infrastructure by 100.8% in the fourth quarter. Jones Financial Companies Lllp now owns 2,227 shares of the construction company's stock worth $375,000 after acquiring an additional 1,118 shares in the last quarter. Hedge funds and other institutional investors 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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