Sterling Infrastructure (NASDAQ:STRL) Reaches New 52-Week High – Here’s What Happened

Shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) hit a new 52-week high on Wednesday . The company traded as high as $173.84 and last traded at $170.54, with a volume of 4322 shares traded. The stock had previously closed at $157.22.

Analyst Upgrades and Downgrades

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

Sterling Infrastructure Stock Performance

The business has a 50-day moving average of $143.92 and a 200 day moving average of $125.60. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.24 and a quick ratio of 1.24. The company has a market cap of $5.36 billion, a PE ratio of 29.44, a PEG ratio of 1.79 and a beta of 1.15.

Sterling Infrastructure (NASDAQ:STRL) last released its quarterly earnings data on Monday, August 5th. The construction company reported $1.67 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.24. Sterling Infrastructure had a return on equity of 25.64% and a net margin of 7.85%. The firm had revenue of $582.82 million during the quarter, compared to analyst estimates of $553.70 million. During the same quarter in the prior year, the company posted $1.27 earnings per share. Equities research analysts anticipate that Sterling Infrastructure, Inc. will post 5.66 EPS for the current fiscal year.

Insider Buying and Selling at Sterling Infrastructure

In other news, EVP Ronald A. Ballschmiede sold 18,700 shares of the stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 248,471 shares in the company, valued at approximately $35,677,950.89. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 3.70% of the company’s stock.

Institutional Trading of Sterling Infrastructure

Several hedge funds and other institutional investors have recently bought and sold shares of STRL. Norden Group LLC acquired a new stake in shares of Sterling Infrastructure in the 1st quarter worth $631,000. Mutual of America Capital Management LLC purchased a new stake in Sterling Infrastructure during the 1st quarter worth approximately $4,308,000. SG Americas Securities LLC increased its stake in Sterling Infrastructure by 587.9% during the 1st quarter. SG Americas Securities LLC now owns 9,817 shares of the construction company’s stock worth $1,083,000 after buying an additional 8,390 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new stake in shares of Sterling Infrastructure in the first quarter valued at approximately $249,000. Finally, Oppenheimer & Co. Inc. grew its position in shares of Sterling Infrastructure by 12.2% in the first quarter. Oppenheimer & Co. Inc. now owns 9,439 shares of the construction company’s stock valued at $1,041,000 after purchasing an additional 1,026 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.