William Blair Begins Coverage on Sterling Infrastructure (NASDAQ:STRL)

Research analysts at William Blair assumed coverage on shares of Sterling Infrastructure (NASDAQ:STRL) in a research report issued on Friday, MarketBeat reports. The brokerage set an “outperform” rating on the construction company’s stock.

Sterling Infrastructure Stock Performance

Shares of NASDAQ:STRL opened at $182.51 on Friday. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $5.60 billion, a price-to-earnings ratio of 30.83, a price-to-earnings-growth ratio of 1.69 and a beta of 1.26. The firm has a 50 day moving average of $181.83 and a 200 day moving average of $148.72. Sterling Infrastructure has a 52 week low of $69.61 and a 52 week high of $203.49.

Sterling Infrastructure (NASDAQ:STRL) last issued its quarterly earnings data on Wednesday, November 6th. The construction company reported $1.97 earnings per share for the quarter, topping analysts’ consensus estimates of $1.68 by $0.29. The firm had revenue of $593.74 million during the quarter, compared to analysts’ expectations of $599.90 million. Sterling Infrastructure had a return on equity of 27.52% and a net margin of 8.77%. During the same period in the prior year, the business posted $1.26 EPS. On average, sell-side analysts predict that Sterling Infrastructure will post 5.96 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Dana C. O’brien sold 2,000 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $175.89, for a total transaction of $351,780.00. Following the transaction, the director now owns 25,901 shares in the company, valued at $4,555,726.89. This represents a 7.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.80% of the stock is owned by company insiders.

Institutional Trading of Sterling Infrastructure

Large investors have recently bought and sold shares of the stock. Geode Capital Management LLC lifted its stake in shares of Sterling Infrastructure by 0.5% during the third quarter. Geode Capital Management LLC now owns 719,980 shares of the construction company’s stock worth $104,431,000 after buying an additional 3,918 shares during the period. State Street Corp grew its stake in Sterling Infrastructure by 0.7% during the 3rd quarter. State Street Corp now owns 713,234 shares of the construction company’s stock valued at $103,433,000 after purchasing an additional 5,106 shares during the last quarter. Congress Asset Management Co. increased its holdings in shares of Sterling Infrastructure by 19.1% in the third quarter. Congress Asset Management Co. now owns 647,924 shares of the construction company’s stock valued at $93,962,000 after purchasing an additional 104,096 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of Sterling Infrastructure by 19.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 617,901 shares of the construction company’s stock worth $89,608,000 after purchasing an additional 102,101 shares during the last quarter. Finally, Driehaus Capital Management LLC lifted its holdings in shares of Sterling Infrastructure by 11.4% during the second quarter. Driehaus Capital Management LLC now owns 533,606 shares of the construction company’s stock worth $63,147,000 after purchasing an additional 54,727 shares during the period. Hedge funds and other 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.