Sterling Infrastructure (NASDAQ:STRL) Reaches New 52-Week High - Here's Why

Sterling Infrastructure, Inc. (NASDAQ:STRL - Get Free Report)'s stock price reached a new 52-week high during trading on Wednesday . The stock traded as high as $206.07 and last traded at $202.11, with a volume of 67443 shares changing hands. The stock had previously closed at $196.55.

Analyst Upgrades and Downgrades

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

Sterling Infrastructure Trading Up 2.0 %

The business has a 50-day moving average price of $181.96 and a 200-day moving average price of $150.35. 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 firm has a market capitalization of $6.16 billion, a P/E ratio of 33.88, a PEG ratio of 1.88 and a beta of 1.26.

Sterling Infrastructure (NASDAQ:STRL - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The construction company reported $1.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.29. The firm had revenue of $593.74 million for the quarter, compared to analyst estimates of $599.90 million. Sterling Infrastructure had a net margin of 8.77% and a return on equity of 27.52%. During the same quarter in the previous year, the firm posted $1.26 EPS. Analysts anticipate that Sterling Infrastructure, Inc. will post 5.98 earnings per share for the current year.

Insider Activity at Sterling Infrastructure

In other Sterling Infrastructure news, Director Dana C. O'brien sold 2,000 shares of the business's stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $175.89, for a total value of $351,780.00. Following the transaction, the director now directly 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Quarry LP increased its holdings in Sterling Infrastructure by 510.7% during the 3rd quarter. Quarry LP now owns 171 shares of the construction company's stock valued at $25,000 after purchasing an additional 143 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Sterling Infrastructure in the third quarter valued at $26,000. Huntington National Bank raised its holdings in shares of Sterling Infrastructure by 21,300.0% in the third quarter. Huntington National Bank now owns 214 shares of the construction company's stock valued at $31,000 after buying an additional 213 shares during the last quarter. Signaturefd LLC lifted its position in Sterling Infrastructure by 119.3% during the 3rd quarter. Signaturefd LLC now owns 296 shares of the construction company's stock worth $43,000 after buying an additional 161 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in Sterling Infrastructure during the 3rd quarter worth about $44,000. Institutional investors 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.