Sterling Infrastructure (NASDAQ:STRL) Trading Down 10% - Time to Sell?

Key Points

• Sterling Infrastructure's stock price dropped by 10% to $328.01, with trading volume decreasing by 84% compared to the average session.
• Analysts have mixed opinions, with Zacks Research upgrading the stock to a "strong-buy," while Wall Street Zen downgraded it to a "buy" rating.
• Institutional investors own a significant portion of the company, with 80.95% of the stock held by these investors, indicating strong institutional interest.

Sterling Infrastructure, Inc. (NASDAQ:STRL - Get Free Report)'s stock price fell 10% on Wednesday . The company traded as low as $332.50 and last traded at $328.01. 97,713 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 621,474 shares. The stock had previously closed at $364.32.

Analyst Ratings Changes

A number of research firms recently weighed in on STRL. Weiss Ratings restated a "buy (b)" rating on shares of Sterling Infrastructure in a research report on Wednesday, October 8th. Zacks Research upgraded Sterling Infrastructure from a "hold" rating to a "strong-buy" rating in a research report on Friday, September 5th. Wall Street Zen downgraded Sterling Infrastructure from a "strong-buy" rating to a "buy" rating in a research report on Friday, September 26th. Finally, DA Davidson boosted their target price on Sterling Infrastructure from $265.00 to $355.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. One investment analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $355.00.

Sterling Infrastructure Stock Down 12.5%

The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $9.70 billion, a PE ratio of 34.66, a PEG ratio of 2.73 and a beta of 1.38. The stock has a 50 day simple moving average of $320.72 and a 200 day simple moving average of $244.36.

Sterling Infrastructure (NASDAQ:STRL - Get Free Report) last announced its earnings results on Monday, June 3rd. The construction company reported $0.64 EPS for the quarter. The company had revenue of $403.58 million during the quarter. Sterling Infrastructure had a return on equity of 27.93% and a net margin of 13.33%. As a group, sell-side analysts forecast that Sterling Infrastructure, Inc. will post 5.98 earnings per share for the current year.

Hedge Funds Weigh In On Sterling Infrastructure

Hedge funds and other institutional investors have recently made changes to their positions in the business. Sunbelt Securities Inc. raised its holdings in shares of Sterling Infrastructure by 689.7% during the first quarter. Sunbelt Securities Inc. now owns 229 shares of the construction company's stock valued at $26,000 after acquiring an additional 200 shares in the last quarter. Twin Peaks Wealth Advisors LLC bought a new position in shares of Sterling Infrastructure during the second quarter valued at approximately $26,000. Ameritas Advisory Services LLC bought a new position in Sterling Infrastructure in the second quarter worth $29,000. Bessemer Group Inc. raised its holdings in Sterling Infrastructure by 119.3% in the second quarter. Bessemer Group Inc. now owns 125 shares of the construction company's stock worth $29,000 after purchasing an additional 68 shares in the last quarter. Finally, Golden State Wealth Management LLC raised its holdings in Sterling Infrastructure by 54.8% in the second quarter. Golden State Wealth Management LLC now owns 144 shares of the construction company's stock worth $33,000 after purchasing an additional 51 shares in the last quarter. 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.

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