Sterling Infrastructure (NASDAQ:STRL) Trading Down 6.4% - Here's What Happened

Key Points

• Sterling Infrastructure shares dropped 6.4% on Wednesday, trading as low as $346.00, with a significant decline in trading volume, dropping to 259,383 shares from an average of 639,963.
• Analysts upgraded Sterling Infrastructure's rating to a "strong-buy" from "buy," with a consensus price target of $355.00, reflecting increased investor confidence following recent recommendations.
• Institutional investors have increased their holdings in the company, with 80.95% of the stock now owned by large investors, indicating strong institutional support for Sterling Infrastructure.

Shares of Sterling Infrastructure, Inc. (NASDAQ:STRL - Get Free Report) fell 6.4% on Wednesday . The company traded as low as $346.00 and last traded at $348.18. 259,383 shares changed hands during mid-day trading, a decline of 59% from the average session volume of 639,963 shares. The stock had previously closed at $371.84.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. DA Davidson raised their price objective on Sterling Infrastructure from $265.00 to $355.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Wall Street Zen upgraded Sterling Infrastructure from a "buy" rating to a "strong-buy" rating in a report on Saturday, September 13th. Finally, Zacks Research upgraded Sterling Infrastructure from a "hold" rating to a "strong-buy" rating in a report on Friday, September 5th. One investment analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $355.00.

Sterling Infrastructure Stock Performance

The company has a market capitalization of $10.54 billion, a PE ratio of 37.76, a PEG ratio of 2.72 and a beta of 1.35. The business's 50-day moving average is $287.96 and its 200-day moving average is $212.06. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.42 and a current ratio of 1.42.

Institutional Investors Weigh In On Sterling Infrastructure

Several large investors have recently modified their holdings of STRL. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Sterling Infrastructure by 10.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 74,358 shares of the construction company's stock valued at $12,526,000 after acquiring an additional 7,062 shares during the last quarter. Public Employees Retirement System of Ohio raised its stake in Sterling Infrastructure by 289.3% during the fourth quarter. Public Employees Retirement System of Ohio now owns 907 shares of the construction company's stock worth $153,000 after purchasing an additional 674 shares during the period. Forum Financial Management LP acquired a new stake in shares of Sterling Infrastructure during the fourth quarter valued at about $224,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Sterling Infrastructure during the fourth quarter valued at about $6,914,000. Finally, Cim LLC acquired a new position in shares of Sterling Infrastructure in the fourth quarter valued at approximately $271,000. Institutional investors own 80.95% of the company's stock.

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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