Sterling Infrastructure (NASDAQ:STRL) Hits New 52-Week High - Still a Buy?

Sterling Infrastructure, Inc. (NASDAQ:STRL - Get Free Report)'s share price hit a new 52-week high on Monday . The company traded as high as $211.42 and last traded at $210.40, with a volume of 69163 shares changing hands. The stock had previously closed at $202.99.

Analyst Ratings Changes

STRL has been the topic of several research reports. DA Davidson raised their target price on shares of Sterling Infrastructure from $205.00 to $265.00 and gave the stock a "buy" rating in a report on Wednesday. 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 50-day simple moving average of $176.97 and a 200-day simple moving average of $158.09. The firm has a market capitalization of $6.81 billion, a PE ratio of 26.16, a PEG ratio of 1.86 and a beta of 1.37. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.32 and a quick ratio of 1.32.

Insider Transactions at Sterling Infrastructure

In other news, Director Dana C. O'brien sold 10,154 shares of the business's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $206.58, for a total transaction of $2,097,613.32. Following the completion of the sale, the director now owns 16,498 shares of the company's stock, valued at $3,408,156.84. The trade was a 38.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 3.70% of the company's stock.

Hedge Funds Weigh In On Sterling Infrastructure

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in Sterling Infrastructure by 30.0% in the fourth quarter. Vanguard Group Inc. now owns 2,523,804 shares of the construction company's stock worth $425,135,000 after buying an additional 581,847 shares in the last quarter. Millennium Management LLC lifted its position in shares of Sterling Infrastructure by 743.9% during the 1st quarter. Millennium Management LLC now owns 493,393 shares of the construction company's stock valued at $55,857,000 after buying an additional 434,925 shares in the last quarter. Pacer Advisors Inc. bought a new position in shares of Sterling Infrastructure during the 1st quarter valued at approximately $28,689,000. Capital Research Global Investors increased its holdings in Sterling Infrastructure by 78.5% in the 4th quarter. Capital Research Global Investors now owns 574,976 shares of the construction company's stock worth $96,855,000 after acquiring an additional 252,934 shares in the last quarter. Finally, Nuveen LLC bought a new stake in Sterling Infrastructure during the 1st quarter worth approximately $19,741,000. 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.