StockNews.com Upgrades Sterling Infrastructure (NASDAQ:STRL) to Buy

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

Separately, William Blair started coverage on shares of Sterling Infrastructure in a report on Friday, January 17th. They set an “outperform” rating on the stock.

Sterling Infrastructure Stock Up 1.0 %

Shares of Sterling Infrastructure stock traded up $1.43 during midday trading on Wednesday, hitting $141.11. The company had a trading volume of 669,575 shares, compared to its average volume of 460,575. Sterling Infrastructure has a 52-week low of $74.44 and a 52-week high of $206.07. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.29 and a current ratio of 1.29. The stock has a market capitalization of $4.33 billion, a P/E ratio of 23.84, a P/E/G ratio of 2.07 and a beta of 1.26. The company has a 50 day moving average of $179.50 and a 200 day moving average of $151.96.

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

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.

Institutional Investors Weigh In On Sterling Infrastructure

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its position in shares of Sterling Infrastructure by 1,088.1% in the third quarter. Principal Financial Group Inc. now owns 355,546 shares of the construction company’s stock worth $51,561,000 after purchasing an additional 325,620 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in shares of Sterling Infrastructure during the 4th quarter valued at $47,712,000. International Assets Investment Management LLC boosted its holdings in Sterling Infrastructure by 14,112.0% in the 3rd quarter. International Assets Investment Management LLC now owns 142,120 shares of the construction company’s stock worth $20,610,000 after buying an additional 141,120 shares during the period. WCM Investment Management LLC purchased a new stake in Sterling Infrastructure in the 4th quarter worth $18,019,000. Finally, Congress Asset Management Co. raised its holdings in Sterling Infrastructure by 19.1% during the third 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. 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.