Sterling Infrastructure (NASDAQ:STRL) Share Price Passes Above Two Hundred Day Moving Average - What's Next?

Sterling Infrastructure, Inc. (NASDAQ:STRL - Get Free Report) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $144.38 and traded as high as $172.37. Sterling Infrastructure shares last traded at $167.73, with a volume of 251,720 shares traded.

Wall Street Analysts Forecast Growth

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

Sterling Infrastructure Price Performance

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 $5.45 billion, a price-to-earnings ratio of 29.98, a price-to-earnings-growth ratio of 2.02 and a beta of 1.22. The business's 50 day simple moving average is $179.97 and its 200-day simple moving average is $144.78.

Sterling Infrastructure (NASDAQ:STRL - Get Free Report) last issued its quarterly earnings data 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 return on equity of 27.52% and a net margin of 8.77%. The business had revenue of $593.74 million during the quarter, compared to the consensus estimate of $599.90 million. During the same period in the previous year, the firm posted $1.26 earnings per share. Research analysts anticipate that Sterling Infrastructure, Inc. will post 5.96 earnings per share for the current year.

Insider Transactions at Sterling Infrastructure

In other news, Director Dana C. O'brien sold 2,000 shares of the company's stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $175.89, for a total value of $351,780.00. Following the completion of the sale, the director now directly owns 25,901 shares of the company's stock, valued at approximately $4,555,726.89. This represents a 7.17 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 3.70% of the company's stock.

Institutional Investors Weigh In On Sterling Infrastructure

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its stake in shares of Sterling Infrastructure by 14.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 125,048 shares of the construction company's stock worth $14,798,000 after buying an additional 15,949 shares in the last quarter. Principal Financial Group Inc. raised its position in Sterling Infrastructure by 14.9% in the second quarter. Principal Financial Group Inc. now owns 29,926 shares of the construction company's stock worth $3,541,000 after acquiring an additional 3,888 shares in the last quarter. Commonwealth Equity Services LLC raised its position in Sterling Infrastructure by 65.0% in the second quarter. Commonwealth Equity Services LLC now owns 3,789 shares of the construction company's stock worth $448,000 after acquiring an additional 1,492 shares in the last quarter. Van ECK Associates Corp acquired a new stake in Sterling Infrastructure in the 2nd quarter valued at about $1,640,000. Finally, Versor Investments LP bought a new position in shares of Sterling Infrastructure during the 2nd quarter valued at about $322,000. 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.