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

StockNews.com upgraded shares of Sterling Infrastructure (NASDAQ:STRL) from a hold rating to a buy rating in a research note issued to investors on Wednesday morning.

Separately, William Blair began coverage on shares of Sterling Infrastructure in a report on Friday, January 17th. They issued an “outperform” rating for the company.

Sterling Infrastructure Stock Up 1.0 %

Shares of NASDAQ STRL opened at $141.11 on Wednesday. Sterling Infrastructure has a 52-week low of $74.44 and a 52-week high of $206.07. The firm has a market capitalization of $4.33 billion, a price-to-earnings ratio of 23.84, a PEG ratio of 2.07 and a beta of 1.26. The stock has a 50 day moving average price of $179.50 and a 200 day moving average price of $151.96. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.29 and a current ratio of 1.29.

Sterling Infrastructure (NASDAQ:STRL) last issued its earnings results on Wednesday, November 6th. The construction company reported $1.97 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.29. The business 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 earned $1.26 EPS. Sell-side analysts expect that Sterling Infrastructure will post 5.98 earnings per share for the current year.

Insider Buying and Selling

In other Sterling Infrastructure 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 value of $351,780.00. Following the transaction, the director now owns 25,901 shares in the company, valued at $4,555,726.89. The trade was a 7.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Sterling Infrastructure

Several institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC grew its stake in Sterling Infrastructure by 0.5% during the 3rd 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 last quarter. State Street Corp raised its position in shares of Sterling Infrastructure by 0.7% in 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. Allspring Global Investments Holdings LLC raised its position 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 purchasing an additional 49,008 shares during the last quarter. Congress Asset Management Co. boosted its stake in Sterling Infrastructure by 19.1% in the 3rd quarter. Congress Asset Management Co. now owns 647,924 shares of the construction company’s stock worth $93,962,000 after purchasing an additional 104,096 shares in the last quarter. Finally, Loomis Sayles & Co. L P grew its position in Sterling Infrastructure by 4.9% during the 3rd quarter. Loomis Sayles & Co. L P now owns 380,972 shares of the construction company’s stock worth $55,248,000 after purchasing an additional 17,863 shares during the last quarter. 80.95% of the stock is currently owned by institutional investors and hedge funds.

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.