Sterling Infrastructure (NASDAQ:STRL) Reaches New 12-Month High - Still a Buy?

Shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Get Free Report) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $242.23 and last traded at $241.76, with a volume of 335486 shares. The stock had previously closed at $236.29.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on STRL shares. Wall Street Zen lowered shares of Sterling Infrastructure from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. DA Davidson raised their price target on shares of Sterling Infrastructure from $205.00 to $265.00 and gave the stock a "buy" rating in a research note on Wednesday, June 18th.

Sterling Infrastructure Price Performance

The firm has a market capitalization of $7.25 billion, a PE ratio of 27.85, a price-to-earnings-growth ratio of 2.00 and a beta of 1.40. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.32 and a current ratio of 1.32. The business's 50 day moving average is $204.46 and its two-hundred day moving average is $163.15.

Insider Buying and Selling

In other Sterling Infrastructure news, Director Dana C. O'brien sold 10,154 shares of the firm's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $206.58, for a total value of $2,097,613.32. Following the completion of the transaction, the director directly owned 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Mark D. Wolf sold 3,500 shares of the firm's stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $225.87, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. 3.70% of the stock is currently owned by insiders.

Institutional Trading of Sterling Infrastructure

A number of hedge funds have recently made changes to their positions in STRL. Sunbelt Securities Inc. increased its position in shares of Sterling Infrastructure by 689.7% in the first quarter. Sunbelt Securities Inc. now owns 229 shares of the construction company's stock valued at $26,000 after acquiring an additional 200 shares during the period. Versant Capital Management Inc increased its position in shares of Sterling Infrastructure by 355.8% in the first quarter. Versant Capital Management Inc now owns 237 shares of the construction company's stock valued at $27,000 after acquiring an additional 185 shares during the period. Opal Wealth Advisors LLC purchased a new position in shares of Sterling Infrastructure in the first quarter valued at about $28,000. Armstrong Advisory Group Inc. increased its position in shares of Sterling Infrastructure by 93.2% in the second quarter. Armstrong Advisory Group Inc. now owns 170 shares of the construction company's stock valued at $39,000 after acquiring an additional 82 shares during the period. Finally, MCF Advisors LLC increased its position in shares of Sterling Infrastructure by 97.7% in the second quarter. MCF Advisors LLC now owns 172 shares of the construction company's stock valued at $40,000 after acquiring an additional 85 shares during the period. 80.95% of the stock is owned by institutional investors.

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.