Sterling Infrastructure (NASDAQ:STRL) Hits New 12-Month High – Here’s What Happened

Sterling Infrastructure, Inc. (NASDAQ:STRL)’s share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $202.50 and last traded at $201.91, with a volume of 258567 shares changing hands. The stock had previously closed at $196.33.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of Sterling Infrastructure from a “buy” rating to a “hold” rating in a research report on Sunday, September 15th.

Sterling Infrastructure Stock Performance

The firm has a market capitalization of $6.00 billion, a P/E ratio of 33.01, a price-to-earnings-growth ratio of 2.20 and a beta of 1.15. The company has a 50-day moving average of $164.42 and a 200-day moving average of $133.88. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.41.

Sterling Infrastructure (NASDAQ:STRL) last issued its quarterly earnings data on Wednesday, November 6th. The construction company reported $1.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.68 by $0.29. Sterling Infrastructure had a return on equity of 27.52% and a net margin of 8.77%. The company had revenue of $593.74 million during the quarter, compared to the consensus estimate of $599.90 million. During the same period last year, the company earned $1.26 earnings per share. On average, equities analysts anticipate that Sterling Infrastructure, Inc. will post 5.96 earnings per share for the current fiscal year.

Insider Transactions at Sterling Infrastructure

In other news, EVP Ronald A. Ballschmiede sold 18,700 shares of Sterling Infrastructure stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $143.59, for a total value of $2,685,133.00. Following the completion of the transaction, the executive vice president now directly owns 248,471 shares of the company’s stock, valued at approximately $35,677,950.89. This trade represents a 7.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 3.80% of the company’s stock.

Institutional Investors Weigh In On Sterling Infrastructure

Several large investors have recently added to or reduced their stakes in the business. Chartwell Investment Partners LLC boosted its holdings in shares of Sterling Infrastructure by 0.8% during the 3rd quarter. Chartwell Investment Partners LLC now owns 8,958 shares of the construction company’s stock worth $1,299,000 after buying an additional 70 shares in the last quarter. Xponance Inc. lifted its position in shares of Sterling Infrastructure by 5.1% during the 2nd quarter. Xponance Inc. now owns 1,914 shares of the construction company’s stock valued at $227,000 after acquiring an additional 93 shares during the period. GAMMA Investing LLC boosted its stake in Sterling Infrastructure by 45.2% during the third quarter. GAMMA Investing LLC now owns 302 shares of the construction company’s stock worth $44,000 after acquiring an additional 94 shares in the last quarter. EFG Asset Management North America Corp. grew its holdings in Sterling Infrastructure by 0.5% in the second quarter. EFG Asset Management North America Corp. now owns 25,246 shares of the construction company’s stock worth $2,985,000 after purchasing an additional 120 shares during the period. Finally, SummerHaven Investment Management LLC increased its stake in Sterling Infrastructure by 1.0% in the second quarter. SummerHaven Investment Management LLC now owns 13,006 shares of the construction company’s stock valued at $1,539,000 after purchasing an additional 124 shares in the last quarter. Institutional investors and hedge funds 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.