Sterling Infrastructure (NASDAQ:STRL) Shares Gap Up - Here's Why

Sterling Infrastructure, Inc. (NASDAQ:STRL - Get Free Report) shares gapped up prior to trading on Wednesday . The stock had previously closed at $115.94, but opened at $123.07. Sterling Infrastructure shares last traded at $119.62, with a volume of 312,927 shares.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on STRL shares. StockNews.com upgraded shares of Sterling Infrastructure from a "hold" rating to a "buy" rating in a report on Thursday, February 20th. DA Davidson raised shares of Sterling Infrastructure from a "neutral" rating to a "buy" rating and set a $185.00 price objective on the stock in a research note on Thursday. Finally, William Blair assumed coverage on shares of Sterling Infrastructure in a research note on Friday, January 17th. They set an "outperform" rating for the company.

Sterling Infrastructure Stock Up 3.3 %

The firm has a market capitalization of $3.91 billion, a P/E ratio of 21.49, a P/E/G ratio of 1.28 and a beta of 1.24. The company has a fifty day simple moving average of $155.22 and a 200 day simple moving average of $155.11. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.41.

Insiders Place Their Bets

In related news, Director Dana C. O'brien sold 2,000 shares of the firm'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 transaction of $351,780.00. Following the completion of the sale, the director now owns 25,901 shares of the company's stock, valued at $4,555,726.89. This trade represents a 7.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 3.70% of the company's stock.

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Institutional Trading of Sterling Infrastructure

Several institutional investors have recently added to or reduced their stakes in STRL. Chartwell Investment Partners LLC raised its stake in shares of Sterling Infrastructure by 0.8% in the third quarter. Chartwell Investment Partners LLC now owns 8,958 shares of the construction company's stock worth $1,299,000 after purchasing an additional 70 shares during the last quarter. Huntington National Bank increased its holdings 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 buying an additional 74 shares in the last quarter. Kovack Advisors Inc. raised its position in Sterling Infrastructure by 3.2% in the 4th quarter. Kovack Advisors Inc. now owns 2,914 shares of the construction company's stock worth $491,000 after buying an additional 91 shares during the last quarter. Willis Investment Counsel lifted its stake in Sterling Infrastructure by 1.4% during the 4th quarter. Willis Investment Counsel now owns 7,535 shares of the construction company's stock valued at $1,269,000 after acquiring an additional 101 shares during the period. Finally, JT Stratford LLC boosted its holdings in shares of Sterling Infrastructure by 1.0% during the 4th quarter. JT Stratford LLC now owns 12,465 shares of the construction company's stock valued at $2,100,000 after acquiring an additional 121 shares during the last quarter. 80.95% of the stock is currently owned by hedge funds and other institutional investors.

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.