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

Key Points

• Sterling Infrastructure shares hit a new 52-week high at $366.26, following an increase in trading volume, indicating strong market performance.
• Several analysts upgraded the stock’s rating, with Wall Street Zen and Zacks Research both issuing "strong-buy" ratings, and DA Davidson raising the target price to $355.00.
• Institutional investors dominate ownership, holding 80.95% of Sterling Infrastructure's shares, and several large funds have significantly increased their stakes recently.

Shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Get Free Report) reached a new 52-week high on Monday . The company traded as high as $365.14 and last traded at $366.26, with a volume of 183783 shares changing hands. The stock had previously closed at $360.25.

Analysts Set New Price Targets

A number of equities analysts have commented on STRL shares. Wall Street Zen raised shares of Sterling Infrastructure from a "buy" rating to a "strong-buy" rating in a research note on Saturday, September 13th. DA Davidson lifted their target price on shares of Sterling Infrastructure from $265.00 to $355.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Finally, Zacks Research upgraded Sterling Infrastructure from a "hold" rating to a "strong-buy" rating in a report on Friday, September 5th. One research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $355.00.

Sterling Infrastructure Stock Performance

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 firm has a market cap of $11.18 billion, a PE ratio of 39.93, a price-to-earnings-growth ratio of 2.67 and a beta of 1.35. The business has a 50 day simple moving average of $282.77 and a two-hundred day simple moving average of $209.20.

Insider Buying and Selling

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 transaction, the general counsel directly owned 29,315 shares of the company's stock, valued at $6,621,379.05. This represents a 10.67% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 2.70% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Sunbelt Securities Inc. boosted its holdings in 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 purchasing an additional 200 shares during the period. Twin Peaks Wealth Advisors LLC purchased a new stake in Sterling Infrastructure during the 2nd quarter worth about $26,000. Versant Capital Management Inc increased its holdings in shares of Sterling Infrastructure by 355.8% during the 1st quarter. Versant Capital Management Inc now owns 237 shares of the construction company's stock worth $27,000 after buying an additional 185 shares during the last quarter. Opal Wealth Advisors LLC purchased a new stake in shares of Sterling Infrastructure during the first quarter valued at approximately $28,000. Finally, Ameritas Advisory Services LLC bought a new stake in shares of Sterling Infrastructure in the 2nd quarter worth about $29,000. 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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