Sterling Infrastructure (NASDAQ:STRL) Share Price Crosses Above 200-Day Moving Average – Here’s Why

Sterling Infrastructure, Inc. (NASDAQ:STRL)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $144.38 and traded as high as $172.37. Sterling Infrastructure shares last traded at $167.73, with a volume of 251,720 shares changing hands.

Wall Street Analysts Forecast Growth

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

Sterling Infrastructure Stock Up 5.8 %

The firm has a market capitalization of $5.45 billion, a price-to-earnings ratio of 29.98, a P/E/G ratio of 2.02 and a beta of 1.22. The firm has a fifty day moving average price of $179.97 and a 200 day moving average price of $144.78. 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 posted its quarterly earnings data on Wednesday, November 6th. The construction company reported $1.97 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 for the quarter, compared to analyst estimates of $599.90 million. During the same quarter in the previous year, the firm earned $1.26 earnings per share. Sell-side analysts anticipate that Sterling Infrastructure, Inc. will post 5.96 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Dana C. O’brien sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $175.89, for a total value of $351,780.00. Following the transaction, the director now owns 25,901 shares in the company, valued at $4,555,726.89. This trade represents a 7.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Quarry LP grew its holdings in Sterling Infrastructure by 510.7% during the 3rd quarter. Quarry LP now owns 171 shares of the construction company’s stock worth $25,000 after acquiring an additional 143 shares during the period. Capital Performance Advisors LLP bought a new position in shares of Sterling Infrastructure during the third quarter worth $26,000. Huntington National Bank increased its position in shares of Sterling Infrastructure by 21,300.0% in the 3rd quarter. Huntington National Bank now owns 214 shares of the construction company’s stock valued at $31,000 after buying an additional 213 shares in the last quarter. Signaturefd LLC raised its stake in Sterling Infrastructure by 119.3% during the 3rd quarter. Signaturefd LLC now owns 296 shares of the construction company’s stock worth $43,000 after buying an additional 161 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Sterling Infrastructure during the 3rd quarter valued at about $44,000. Institutional investors own 80.95% of the company’s stock.

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.