Sterling Infrastructure (NASDAQ:STRL) Hits New 1-Year High at $119.99

Sterling Infrastructure, Inc. (NASDAQ:STRL) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $119.99 and last traded at $117.42, with a volume of 180625 shares trading hands. The stock had previously closed at $105.37.

Analysts Set New Price Targets

Separately, DA Davidson reissued a “neutral” rating and set a $115.00 price target (up from $86.00) on shares of Sterling Infrastructure in a research note on Wednesday, February 28th.

Sterling Infrastructure Price Performance

The firm has a market capitalization of $3.77 billion, a P/E ratio of 26.39, a price-to-earnings-growth ratio of 1.02 and a beta of 1.21. The company has a 50-day moving average price of $106.23 and a 200-day moving average price of $86.22. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.25 and a current ratio of 1.25.

Sterling Infrastructure (NASDAQ:STRL) last announced its quarterly earnings results on Monday, February 26th. The construction company reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.30. Sterling Infrastructure had a net margin of 7.03% and a return on equity of 24.75%. The company had revenue of $485.98 million for the quarter, compared to analysts’ expectations of $526.90 million. On average, sell-side analysts predict that Sterling Infrastructure, Inc. will post 4.98 earnings per share for the current year.

Insider Buying and Selling at Sterling Infrastructure

In other news, CFO Ronald A. Ballschmiede sold 3,289 shares of the firm’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $113.52, for a total transaction of $373,367.28. Following the sale, the chief financial officer now owns 267,171 shares of the company’s stock, valued at $30,329,251.92. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CFO Ronald A. Ballschmiede sold 3,289 shares of the firm’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $113.52, for a total transaction of $373,367.28. Following the sale, the chief financial officer now directly owns 267,171 shares in the company, valued at $30,329,251.92. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Joseph A. Cutillo sold 20,000 shares of Sterling Infrastructure stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $109.78, for a total value of $2,195,600.00. Following the completion of the sale, the chief executive officer now directly owns 448,133 shares in the company, valued at approximately $49,196,040.74. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 198,172 shares of company stock valued at $22,019,320. Company insiders own 3.80% of the company’s stock.

Hedge Funds Weigh In On Sterling Infrastructure

Large investors have recently bought and sold shares of the company. New York State Teachers Retirement System lifted its position in shares of Sterling Infrastructure by 4.3% in the first quarter. New York State Teachers Retirement System now owns 2,711 shares of the construction company’s stock worth $299,000 after purchasing an additional 111 shares in the last quarter. SummerHaven Investment Management LLC lifted its position in Sterling Infrastructure by 1.1% during the 4th quarter. SummerHaven Investment Management LLC now owns 12,763 shares of the construction company’s stock worth $1,122,000 after buying an additional 141 shares in the last quarter. Legacy Bridge LLC boosted its stake in shares of Sterling Infrastructure by 0.9% during the 1st quarter. Legacy Bridge LLC now owns 17,680 shares of the construction company’s stock worth $1,950,000 after buying an additional 155 shares during the last quarter. BOKF NA grew its holdings in shares of Sterling Infrastructure by 0.4% in the 4th quarter. BOKF NA now owns 138,109 shares of the construction company’s stock valued at $12,144,000 after acquiring an additional 491 shares in the last quarter. Finally, Atticus Wealth Management LLC bought a new position in shares of Sterling Infrastructure in the 1st quarter valued at about $55,000. 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.