Sterling Infrastructure (NASDAQ:STRL) Stock Price Up 8.6%

Sterling Infrastructure, Inc. (NASDAQ:STRL)’s share price shot up 8.6% during trading on Thursday . The company traded as high as $147.01 and last traded at $146.50. 341,586 shares changed hands during mid-day trading, a decline of 3% from the average session volume of 352,361 shares. The stock had previously closed at $134.94.

Wall Street Analyst Weigh In

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

Sterling Infrastructure Stock Performance

The company has a market capitalization of $4.57 billion, a price-to-earnings ratio of 30.80, a price-to-earnings-growth ratio of 1.38 and a beta of 1.16. The firm has a 50-day simple moving average of $116.28 and a two-hundred day simple moving average of $114.52. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.44.

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

Institutional Investors Weigh In On Sterling Infrastructure

Several institutional investors and hedge funds have recently made changes to their positions in the company. Hantz Financial Services Inc. acquired a new stake in shares of Sterling Infrastructure in the second quarter valued at $30,000. Nisa Investment Advisors LLC increased its position in Sterling Infrastructure by 391.1% in the 2nd quarter. Nisa Investment Advisors LLC now owns 275 shares of the construction company’s stock valued at $33,000 after acquiring an additional 219 shares in the last quarter. Crewe Advisors LLC raised its stake in shares of Sterling Infrastructure by 85.4% in the second quarter. Crewe Advisors LLC now owns 293 shares of the construction company’s stock worth $35,000 after acquiring an additional 135 shares during the last quarter. Family Firm Inc. acquired a new position in shares of Sterling Infrastructure during the second quarter worth approximately $38,000. Finally, Opal Wealth Advisors LLC acquired a new stake in shares of Sterling Infrastructure in the second quarter valued at approximately $40,000. 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.