Sterling Infrastructure (NASDAQ:STRL) Trading 9.3% Higher - What's Next?

Key Points

• Sterling Infrastructure's stock increased by 9.3% during trading, reaching a high of $349.81 before closing at $350.77.
• Analysts have upgraded the company's rating, with Zacks Research and Wall Street Zen both giving Sterling Infrastructure a strong-buy rating, and DA Davidson raising its price target to $355.00.
• Insider activity showed General Counsel Mark D. Wolf sold 3,500 shares, reducing his holdings by 10.67%, while institutional investors hold approximately 80.95% of the stock.

Sterling Infrastructure, Inc. (NASDAQ:STRL - Get Free Report) shares traded up 9.3% during trading on Thursday . The company traded as high as $349.81 and last traded at $350.77. 272,937 shares traded hands during trading, a decline of 57% from the average session volume of 632,487 shares. The stock had previously closed at $320.94.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Zacks Research raised Sterling Infrastructure from a "hold" rating to a "strong-buy" rating in a report on Friday, September 5th. Wall Street Zen raised Sterling Infrastructure from a "buy" rating to a "strong-buy" rating in a report on Saturday, September 13th. Finally, DA Davidson boosted their price objective on Sterling Infrastructure from $265.00 to $355.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. According to MarketBeat.com, Sterling Infrastructure currently has an average rating of "Buy" and an average target price of $355.00.

Sterling Infrastructure Trading Up 7.4%

The firm has a market cap of $10.48 billion, a P/E ratio of 37.50, a PEG ratio of 2.36 and a beta of 1.35. The stock has a 50 day moving average of $278.15 and a 200 day moving average of $204.83. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.42 and a quick ratio of 1.42.

Insider Transactions at Sterling Infrastructure

In related news, General Counsel Mark D. Wolf sold 3,500 shares of the business's stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $225.87, for a total transaction of $790,545.00. Following the transaction, the general counsel owned 29,315 shares in the company, valued at $6,621,379.05. The trade was a 10.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Sterling Infrastructure

Large investors have recently bought and sold shares of the company. Ieq Capital LLC boosted its position in Sterling Infrastructure by 94.8% during the 1st quarter. Ieq Capital LLC now owns 8,144 shares of the construction company's stock valued at $922,000 after acquiring an additional 3,963 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of Sterling Infrastructure by 38.6% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 4,804 shares of the construction company's stock worth $544,000 after purchasing an additional 1,337 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in shares of Sterling Infrastructure by 30.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 78,454 shares of the construction company's stock worth $8,882,000 after purchasing an additional 18,254 shares in the last quarter. D.A. Davidson & CO. boosted its position in shares of Sterling Infrastructure by 5.0% in the 1st quarter. D.A. Davidson & CO. now owns 2,424 shares of the construction company's stock worth $274,000 after purchasing an additional 116 shares in the last quarter. Finally, Hudson Edge Investment Partners Inc. bought a new stake in shares of Sterling Infrastructure in the 1st quarter worth approximately $823,000. 80.95% of the stock is owned by institutional investors.

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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