Sterling Infrastructure (NASDAQ:STRL) Shares Gap Up - What's Next?

Key Points

• Sterling Infrastructure shares experienced a significant increase, opening at $295.52 after a previous close of $271.74, and last traded at $312.37 with a volume of 107,417 shares.
• Analysts have differing opinions on STRL, with DA Davidson raising its price target from $205 to $265 and maintaining a "buy" rating, while Wall Street Zen downgraded the stock from "buy" to "hold."
• Insider activity includes Director Dana C. O'Brien selling over 10,000 shares, representing a 38.10% decline in their ownership, while institutional investors own approximately 80.95% of the company's stock.

Sterling Infrastructure, Inc. (NASDAQ:STRL - Get Free Report) shares gapped up before the market opened on Tuesday . The stock had previously closed at $271.74, but opened at $295.52. Sterling Infrastructure shares last traded at $312.37, with a volume of 107,417 shares traded.

Analysts Set New Price Targets

STRL has been the topic of several research analyst reports. DA Davidson lifted their price target on Sterling Infrastructure from $205.00 to $265.00 and gave the stock a "buy" rating in a research report on Wednesday, June 18th. Wall Street Zen lowered Sterling Infrastructure from a "buy" rating to a "hold" rating in a report on Saturday, July 5th.

Sterling Infrastructure Stock Performance

The firm has a market cap of $9.20 billion, a price-to-earnings ratio of 35.40, a price-to-earnings-growth ratio of 2.18 and a beta of 1.45. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.34. The stock has a fifty day moving average price of $227.84 and a 200-day moving average price of $172.53.

Insiders Place Their Bets

In other Sterling Infrastructure news, Director Dana C. O'brien sold 10,154 shares of the company'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. This represents a 38.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Mark D. Wolf sold 3,500 shares of the company's stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $225.87, for a total value of $790,545.00. Following the completion of the sale, the general counsel directly owned 29,315 shares in the company, valued at $6,621,379.05. This trade represents a 10.67% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.70% of the company's stock.

Institutional Trading of Sterling Infrastructure

Several large investors have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC lifted its position 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 valued at $544,000 after acquiring an additional 1,337 shares in the last quarter. Envestnet Asset Management Inc. lifted its position 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 valued at $8,882,000 after acquiring an additional 18,254 shares in the last quarter. D.A. Davidson & CO. lifted its position in Sterling Infrastructure by 5.0% during the first quarter. D.A. Davidson & CO. now owns 2,424 shares of the construction company's stock worth $274,000 after buying an additional 116 shares during the period. Hudson Edge Investment Partners Inc. purchased a new position in Sterling Infrastructure during the first quarter worth about $823,000. Finally, Sowell Financial Services LLC purchased a new position in Sterling Infrastructure during the first quarter worth about $215,000. 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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