Sterling Infrastructure (NASDAQ:STRL) Stock Rating Upgraded by StockNews.com

Sterling Infrastructure (NASDAQ:STRL) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Wednesday.

Separately, William Blair assumed coverage on Sterling Infrastructure in a research note on Friday, January 17th. They set an “outperform” rating on the stock.

Sterling Infrastructure Price Performance

Sterling Infrastructure stock opened at $146.71 on Wednesday. The company has a fifty day simple moving average of $178.49 and a 200-day simple moving average of $151.92. The firm has a market capitalization of $4.51 billion, a price-to-earnings ratio of 24.78, a PEG ratio of 2.07 and a beta of 1.26. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.41. Sterling Infrastructure has a 52-week low of $74.44 and a 52-week high of $206.07.

Sterling Infrastructure (NASDAQ:STRL) last released its quarterly earnings data on Wednesday, November 6th. The construction company reported $1.97 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.29. Sterling Infrastructure had a net margin of 8.77% and a return on equity of 27.52%. The company had revenue of $593.74 million during the quarter, compared to the consensus estimate of $599.90 million. During the same quarter in the prior year, the firm earned $1.26 EPS. On average, equities analysts anticipate that Sterling Infrastructure will post 5.98 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Dana C. O’brien sold 2,000 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $175.89, for a total value of $351,780.00. Following the completion of the transaction, the director now directly owns 25,901 shares in the company, valued at approximately $4,555,726.89. This represents a 7.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 3.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Sterling Infrastructure

Several large investors have recently modified their holdings of the business. Geode Capital Management LLC raised its holdings in Sterling Infrastructure by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 719,980 shares of the construction company’s stock valued at $104,431,000 after buying an additional 3,918 shares during the period. State Street Corp increased its position in shares of Sterling Infrastructure by 0.7% during the third quarter. State Street Corp now owns 713,234 shares of the construction company’s stock valued at $103,433,000 after acquiring an additional 5,106 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Sterling Infrastructure by 7.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 666,909 shares of the construction company’s stock valued at $111,873,000 after acquiring an additional 49,008 shares during the period. Congress Asset Management Co. raised its stake in shares of Sterling Infrastructure by 19.1% in the 3rd quarter. Congress Asset Management Co. now owns 647,924 shares of the construction company’s stock valued at $93,962,000 after acquiring an additional 104,096 shares during the period. Finally, Loomis Sayles & Co. L P lifted its holdings in shares of Sterling Infrastructure by 4.9% in the 3rd quarter. Loomis Sayles & Co. L P now owns 380,972 shares of the construction company’s stock worth $55,248,000 after acquiring an additional 17,863 shares during the last quarter. Institutional investors and hedge funds 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.