Sterling Infrastructure (NASDAQ:STRL) Stock Price Down 6.1% - Time to Sell?

Key Points

• Sterling Infrastructure's stock price decreased by 6.1% during trading, dropping from a previous close of $308.40 to $289.71.
• Analyst upgrades include a shift from a "hold" to a "buy" rating by Wall Street Zen and a price target increase by DA Davidson from $265.00 to $355.00.
• Institutional investors hold approximately 80.95% of Sterling Infrastructure's stock, with recent large-scale acquisitions by firms such as Millennium Management LLC increasing their stake by 743.9%.

Sterling Infrastructure, Inc. (NASDAQ:STRL - Get Free Report)'s stock price dropped 6.1% during trading on Wednesday . The stock traded as low as $290.72 and last traded at $289.71. Approximately 204,929 shares were traded during mid-day trading, a decline of 69% from the average daily volume of 666,537 shares. The stock had previously closed at $308.40.

Analyst Upgrades and Downgrades

STRL has been the topic of several research reports. Wall Street Zen raised shares of Sterling Infrastructure from a "hold" rating to a "buy" rating in a report on Saturday. DA Davidson boosted their price target on Sterling Infrastructure from $265.00 to $355.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th.

Sterling Infrastructure Stock Down 5.5%

The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.42 and a current ratio of 1.42. The firm has a market cap of $8.86 billion, a price-to-earnings ratio of 31.69, a PEG ratio of 2.20 and a beta of 1.46. The business's 50 day moving average price is $241.02 and its 200 day moving average price is $177.12.

Insider Transactions at Sterling Infrastructure

In other Sterling Infrastructure news, General Counsel Mark D. Wolf sold 3,500 shares of the firm's stock in a transaction that occurred 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 transaction, the general counsel directly owned 29,315 shares of the company's stock, valued at $6,621,379.05. This trade represents a 10.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 transaction, the director directly owned 16,498 shares in the company, valued at $3,408,156.84. This trade represents a 38.10% decrease in their position. The disclosure for this sale can be found here. 2.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Sterling Infrastructure

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Millennium Management LLC raised its position in Sterling Infrastructure by 743.9% in the first quarter. Millennium Management LLC now owns 493,393 shares of the construction company's stock worth $55,857,000 after acquiring an additional 434,925 shares in the last quarter. Pacer Advisors Inc. purchased a new position in shares of Sterling Infrastructure in the 1st quarter valued at about $28,689,000. Capital Research Global Investors increased its holdings in shares of Sterling Infrastructure by 78.5% in the 4th quarter. Capital Research Global Investors now owns 574,976 shares of the construction company's stock valued at $96,855,000 after purchasing an additional 252,934 shares in the last quarter. Amanah Holdings Trust acquired a new stake in shares of Sterling Infrastructure in the second quarter valued at about $44,527,000. Finally, Nuveen LLC acquired a new stake in shares of Sterling Infrastructure in the first quarter valued at about $19,741,000. Institutional investors and hedge funds 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.

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