Sterling Infrastructure (NASDAQ:STRL) Trading Down 5.3% - Time to Sell?

Sterling Infrastructure, Inc. (NASDAQ:STRL - Get Free Report) shares dropped 5.3% on Thursday . The company traded as low as $117.85 and last traded at $118.91. Approximately 186,338 shares were traded during mid-day trading, a decline of 53% from the average daily volume of 394,523 shares. The stock had previously closed at $125.56.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on STRL shares. William Blair started coverage on shares of Sterling Infrastructure in a research report on Friday, January 17th. They set an "outperform" rating for the company. DA Davidson upgraded shares of Sterling Infrastructure from a "neutral" rating to a "buy" rating and set a $185.00 target price for the company in a research report on Thursday, February 27th. Finally, StockNews.com downgraded Sterling Infrastructure from a "buy" rating to a "hold" rating in a research report on Monday, March 24th.

Sterling Infrastructure Stock Performance

The firm has a market cap of $3.44 billion, a PE ratio of 19.12, a price-to-earnings-growth ratio of 1.28 and a beta of 1.32. The company has a 50 day simple moving average of $135.10 and a 200-day simple moving average of $156.50. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.29 and a quick ratio of 1.29.

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Hedge Funds Weigh In On Sterling Infrastructure

A number of large investors have recently added to or reduced their stakes in the business. Quarry LP grew its stake in shares of Sterling Infrastructure by 510.7% during the third quarter. Quarry LP now owns 171 shares of the construction company's stock valued at $25,000 after buying an additional 143 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in Sterling Infrastructure during the 4th quarter worth approximately $39,000. Huntington National Bank increased its stake in Sterling Infrastructure by 34.6% in the 4th quarter. Huntington National Bank now owns 288 shares of the construction company's stock worth $49,000 after purchasing an additional 74 shares during the period. National Bank of Canada FI bought a new stake in Sterling Infrastructure in the fourth quarter valued at approximately $56,000. Finally, Arcadia Investment Management Corp MI purchased a new stake in shares of Sterling Infrastructure during the fourth quarter valued at approximately $71,000. Hedge funds and other 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.