Sterling Infrastructure (NASDAQ:STRL) Stock Rating Upgraded by Wall Street Zen

Key Points

• Sterling Infrastructure has received a rating upgrade from Wall Street Zen, changing from a "buy" to a "strong-buy" rating, signaling positive analyst sentiment.
• DA Davidson has increased their target price for Sterling Infrastructure shares from $265.00 to $355.00, reflecting growing confidence in the company’s prospects.
• Insiders of Sterling Infrastructure have recently sold significant amounts of stock, with the General Counsel and a Director each decreasing their ownership by over 10% and 38% respectively.

Sterling Infrastructure (NASDAQ:STRL - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research note issued on Friday.

Separately, DA Davidson raised 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. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Sterling Infrastructure has an average rating of "Buy" and a consensus target price of $355.00.

Sterling Infrastructure Trading Up 0.6%

Shares of Sterling Infrastructure stock opened at $279.58 on Friday. 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 business has a fifty day simple moving average of $253.70 and a two-hundred day simple moving average of $184.54. Sterling Infrastructure has a 1 year low of $96.34 and a 1 year high of $321.79. The company has a market capitalization of $8.50 billion, a price-to-earnings ratio of 30.39, a P/E/G ratio of 2.11 and a beta of 1.46.

Insider Transactions at Sterling Infrastructure

In other news, General Counsel Mark D. Wolf sold 3,500 shares of Sterling Infrastructure 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 completion of the sale, the general counsel directly owned 29,315 shares in the company, valued at approximately $6,621,379.05. The trade was a 10.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Dana C. O'brien sold 10,154 shares of the business's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $206.58, for a total value of $2,097,613.32. Following the completion of the sale, the director owned 16,498 shares of the company's stock, valued at approximately $3,408,156.84. This trade represents a 38.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.70% of the company's stock.

Hedge Funds Weigh In On Sterling Infrastructure

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mariner LLC grew its holdings in shares of Sterling Infrastructure by 127.8% during the 4th quarter. Mariner LLC now owns 3,905 shares of the construction company's stock worth $658,000 after purchasing an additional 2,191 shares in the last quarter. NewEdge Advisors LLC grew its stake in Sterling Infrastructure by 893.1% during the fourth quarter. NewEdge Advisors LLC now owns 3,585 shares of the construction company's stock worth $604,000 after buying an additional 3,224 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in Sterling Infrastructure by 4.5% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 8,591 shares of the construction company's stock valued at $1,446,000 after buying an additional 372 shares during the period. MetLife Investment Management LLC raised its position in shares of Sterling Infrastructure by 4.1% in the 4th quarter. MetLife Investment Management LLC now owns 17,857 shares of the construction company's stock valued at $3,008,000 after buying an additional 698 shares in the last quarter. Finally, TD Waterhouse Canada Inc. bought a new stake in shares of Sterling Infrastructure during the 4th quarter worth approximately $436,000. 80.95% of the stock is owned by institutional investors and hedge funds.

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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