Sterling Infrastructure (NASDAQ:STRL) Shares Gap Up – What’s Next?

Shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) gapped up prior to trading on Wednesday . The stock had previously closed at $115.94, but opened at $123.07. Sterling Infrastructure shares last traded at $119.62, with a volume of 312,927 shares trading hands.

Analyst Ratings Changes

A number of brokerages recently commented on STRL. StockNews.com upgraded shares of Sterling Infrastructure from a “hold” rating to a “buy” rating in a report on Thursday, February 20th. William Blair started coverage on shares of Sterling Infrastructure in a research note on Friday, January 17th. They issued an “outperform” rating on the stock.

Sterling Infrastructure Stock Performance

The company has a debt-to-equity ratio of 0.41, a current ratio of 1.29 and a quick ratio of 1.29. The company has a market capitalization of $3.75 billion, a price-to-earnings ratio of 20.62, a PEG ratio of 1.28 and a beta of 1.24. The company’s 50-day moving average price is $158.12 and its two-hundred day moving average price is $155.09.

Insider Activity at Sterling Infrastructure

In other news, Director Dana C. O’brien sold 2,000 shares of the company’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $175.89, for a total value of $351,780.00. Following the completion of the sale, the director now owns 25,901 shares in the company, valued at $4,555,726.89. This represents a 7.17 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. State Street Corp lifted its stake in Sterling Infrastructure by 0.7% in the third quarter. State Street Corp now owns 713,234 shares of the construction company’s stock worth $103,433,000 after purchasing an additional 5,106 shares during the last quarter. Bay Rivers Group purchased a new position in Sterling Infrastructure in the fourth quarter worth about $341,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of Sterling Infrastructure by 7.9% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 666,909 shares of the construction company’s stock valued at $111,873,000 after purchasing an additional 49,008 shares in the last quarter. Convergence Investment Partners LLC increased its position in Sterling Infrastructure by 47.7% during the fourth quarter. Convergence Investment Partners LLC now owns 9,297 shares of the construction company’s stock valued at $1,566,000 after acquiring an additional 3,002 shares during the last quarter. Finally, Park Avenue Securities LLC purchased a new position in Sterling Infrastructure during the fourth quarter valued at $253,000. 80.95% of the stock is currently owned by hedge funds and other institutional investors.

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.