Sterling Infrastructure (NASDAQ:STRL) Reaches New 1-Year High - What's Next?

Sterling Infrastructure, Inc. (NASDAQ:STRL - Get Free Report)'s share price reached a new 52-week high during trading on Thursday . The company traded as high as $252.00 and last traded at $250.70, with a volume of 50280 shares. The stock had previously closed at $243.23.

Wall Street Analysts Forecast Growth

A number of research firms have commented on STRL. DA Davidson boosted their price objective on Sterling Infrastructure from $205.00 to $265.00 and gave the stock a "buy" rating in a research note on Wednesday, June 18th. Wall Street Zen lowered Sterling Infrastructure from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th.

Sterling Infrastructure Trading Up 0.1%

The company has a debt-to-equity ratio of 0.34, a current ratio of 1.32 and a quick ratio of 1.32. The company has a market cap of $7.63 billion, a price-to-earnings ratio of 29.32, a price-to-earnings-growth ratio of 2.01 and a beta of 1.40. The business has a 50 day simple moving average of $211.45 and a 200 day simple moving average of $165.82.

Insiders Place Their Bets

In other news, General Counsel Mark D. Wolf sold 3,500 shares of the business's stock in a transaction 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 owned 29,315 shares in the company, valued at $6,621,379.05. The trade was a 10.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Dana C. O'brien sold 10,154 shares of the business's stock in a transaction 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 owned 16,498 shares of the company's stock, valued at approximately $3,408,156.84. The trade was a 38.10% decrease in their position. The disclosure for this sale can be found here. Insiders own 3.70% of the company's stock.

Institutional Investors Weigh In On Sterling Infrastructure

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CWC Advisors LLC. increased its holdings in Sterling Infrastructure by 2.4% in the second quarter. CWC Advisors LLC. now owns 1,858 shares of the construction company's stock valued at $429,000 after purchasing an additional 43 shares during the last quarter. Assetmark Inc. increased its holdings in Sterling Infrastructure by 5.4% in the first quarter. Assetmark Inc. now owns 1,372 shares of the construction company's stock valued at $155,000 after purchasing an additional 70 shares during the last quarter. Signaturefd LLC increased its holdings in Sterling Infrastructure by 21.7% in the second quarter. Signaturefd LLC now owns 392 shares of the construction company's stock valued at $90,000 after purchasing an additional 70 shares during the last quarter. Huntington National Bank increased its holdings in Sterling Infrastructure by 34.6% in the fourth quarter. Huntington National Bank now owns 288 shares of the construction company's stock valued at $49,000 after purchasing an additional 74 shares during the last quarter. Finally, Armstrong Advisory Group Inc. increased its holdings in 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 purchasing an additional 82 shares during the last quarter. Institutional investors own 80.95% of the company's stock.

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.