Sterling Infrastructure (NASDAQ:STRL) Reaches New 12-Month 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.

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

Analysts Set New Price Targets

Several brokerages have recently weighed in on STRL. Zacks Research raised shares of Sterling Infrastructure from a "hold" rating to a "strong-buy" rating in a research report on Friday, September 5th. Wall Street Zen raised shares of Sterling Infrastructure from a "buy" rating to a "strong-buy" rating in a research report on Saturday, September 13th. Finally, DA Davidson boosted their price objective 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. One investment analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $355.00.

Sterling Infrastructure Price Performance

The stock has a market cap of $11.22 billion, a price-to-earnings ratio of 40.21, a price-to-earnings-growth ratio of 2.67 and a beta of 1.35. The stock's 50 day moving average price is $285.29 and its two-hundred day moving average price is $210.94. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.31.

Institutional Trading of Sterling Infrastructure

Hedge funds and other institutional investors have recently made changes to their positions in the business. Ieq Capital LLC increased its stake in shares of Sterling Infrastructure by 94.8% in the first quarter. Ieq Capital LLC now owns 8,144 shares of the construction company's stock worth $922,000 after acquiring an additional 3,963 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in shares of Sterling Infrastructure by 38.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 4,804 shares of the construction company's stock worth $544,000 after acquiring an additional 1,337 shares during the period. Envestnet Asset Management Inc. increased its stake in shares of Sterling Infrastructure by 30.3% in the first quarter. Envestnet Asset Management Inc. now owns 78,454 shares of the construction company's stock worth $8,882,000 after acquiring an additional 18,254 shares during the period. D.A. Davidson & CO. increased its stake in shares of Sterling Infrastructure by 5.0% in the first quarter. D.A. Davidson & CO. now owns 2,424 shares of the construction company's stock worth $274,000 after acquiring an additional 116 shares during the period. Finally, Hudson Edge Investment Partners Inc. acquired a new stake in Sterling Infrastructure during the first quarter valued at $823,000. 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.