Sterling Infrastructure (NASDAQ:STRL) Shares Down 5.3% – Should You Sell?

Sterling Infrastructure, Inc. (NASDAQ:STRL) shares dropped 5.3% during mid-day trading on Thursday . The stock traded as low as $117.85 and last traded at $118.91. Approximately 186,338 shares were traded during mid-day trading, a decline of 53% from the average daily volume of 394,523 shares. The stock had previously closed at $125.56.

Wall Street Analyst Weigh In

Several brokerages have recently commented on STRL. William Blair assumed coverage on shares of Sterling Infrastructure in a research report on Friday, January 17th. They set an “outperform” rating for the company. DA Davidson upgraded shares of Sterling Infrastructure from a “neutral” rating to a “buy” rating and set a $185.00 price target for the company in a report on Thursday, February 27th. Finally, StockNews.com lowered shares of Sterling Infrastructure from a “buy” rating to a “hold” rating in a report on Monday.

Sterling Infrastructure Stock Performance

The stock has a market cap of $3.65 billion, a P/E ratio of 20.07, a P/E/G ratio of 1.28 and a beta of 1.32. The company has a fifty day moving average price of $137.65 and a 200 day moving average price of $156.14. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.29 and a quick ratio of 1.29.

Institutional Trading of Sterling Infrastructure

Several institutional investors and hedge funds have recently modified their holdings of STRL. Quarry LP lifted its stake in Sterling Infrastructure by 510.7% during the 3rd quarter. Quarry LP now owns 171 shares of the construction company’s stock valued at $25,000 after acquiring an additional 143 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Sterling Infrastructure in the fourth quarter valued at about $39,000. Huntington National Bank lifted its position in shares of Sterling Infrastructure by 34.6% during the fourth quarter. Huntington National Bank now owns 288 shares of the construction company’s stock valued at $49,000 after purchasing an additional 74 shares in the last quarter. National Bank of Canada FI purchased a new position in Sterling Infrastructure during the fourth quarter worth about $56,000. Finally, Arcadia Investment Management Corp MI bought a new stake in Sterling Infrastructure in the 4th quarter worth about $71,000. 80.95% of the stock is owned by hedge funds and other 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.