Sterling Infrastructure (NASDAQ:STRL) Trading Up 5.9% – Still a Buy?

Sterling Infrastructure, Inc. (NASDAQ:STRL) shares rose 5.9% on Tuesday . The company traded as high as $114.69 and last traded at $115.09. Approximately 995,453 shares changed hands during mid-day trading, an increase of 84% from the average daily volume of 541,830 shares. The stock had previously closed at $108.65.

Analysts Set New Price Targets

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

Sterling Infrastructure Stock Up 7.4 %

The company’s 50 day simple moving average is $159.33 and its 200-day simple moving average is $155.01. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.41. The firm has a market cap of $3.58 billion, a P/E ratio of 19.69, a PEG ratio of 1.28 and a beta of 1.24.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Sterling Infrastructure

A number of hedge funds have recently made changes to their positions in the business. Quarry LP raised its position in shares of Sterling Infrastructure by 510.7% during the third quarter. Quarry LP now owns 171 shares of the construction company’s stock valued at $25,000 after buying an additional 143 shares during the last quarter. Capital Performance Advisors LLP purchased a new position in Sterling Infrastructure during the third quarter valued at $26,000. Huntington National Bank increased its holdings in 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 acquiring an additional 213 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in Sterling Infrastructure in the 4th quarter worth $39,000. Finally, Signaturefd LLC lifted its stake in Sterling Infrastructure by 119.3% in the 3rd quarter. Signaturefd LLC now owns 296 shares of the construction company’s stock worth $43,000 after purchasing an additional 161 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.