Sterling Infrastructure (NASDAQ:STRL) Rating Increased to Buy at Wall Street Zen

Key Points

• Sterling Infrastructure's stock was upgraded from a "hold" to a "buy" rating by Wall Street Zen, reflecting increased analyst confidence in the company's prospects.
• DA Davidson raised the company's price target from $265.00 to $355.00, indicating a strong growth outlook for Sterling Infrastructure.
• Institutional investors own 80.95% of Sterling Infrastructure's stock, highlighting significant institutional interest and support in the company.

Sterling Infrastructure (NASDAQ:STRL - Get Free Report) was upgraded by analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report released on Saturday.

Separately, DA Davidson raised their price target on Sterling Infrastructure from $265.00 to $355.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th.

Sterling Infrastructure Price Performance

Shares of STRL stock traded down $18.84 during trading hours on Friday, hitting $289.56. 313,172 shares of the company's stock were exchanged, compared to its average volume of 667,408. The stock's 50-day moving average is $241.02 and its 200-day moving average is $177.12. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.42 and a quick ratio of 1.42. The stock has a market cap of $8.81 billion, a price-to-earnings ratio of 31.66, a price-to-earnings-growth ratio of 2.20 and a beta of 1.46. Sterling Infrastructure has a 52 week low of $96.34 and a 52 week high of $321.79.

Insider Activity at Sterling Infrastructure

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 transaction, the general counsel owned 29,315 shares of the company's stock, valued at approximately $6,621,379.05. The trade was a 10.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 of the company's stock, 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. Company insiders own 2.70% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Alliancebernstein L.P. increased its position in Sterling Infrastructure by 38.3% in the fourth quarter. Alliancebernstein L.P. now owns 44,470 shares of the construction company's stock worth $7,491,000 after buying an additional 12,320 shares during the last quarter. National Bank of Canada FI bought a new position in shares of Sterling Infrastructure in the fourth quarter worth $56,000. Wells Fargo & Company MN boosted its stake in Sterling Infrastructure by 28.4% during the fourth quarter. Wells Fargo & Company MN now owns 41,980 shares of the construction company's stock valued at $7,072,000 after buying an additional 9,273 shares during the period. Bank of Montreal Can bought a new stake in Sterling Infrastructure during the fourth quarter valued at $221,000. Finally, Invesco Ltd. boosted its stake in Sterling Infrastructure by 22.5% during the fourth quarter. Invesco Ltd. now owns 757,273 shares of the construction company's stock valued at $127,563,000 after buying an additional 139,081 shares during the period. 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.