Sterling Infrastructure, Inc. (NASDAQ:STRL - Get Free Report)'s stock price rose 8.4% during trading on Friday . The stock traded as high as $189.49 and last traded at $189.00. Approximately 127,719 shares traded hands during mid-day trading, a decline of 63% from the average daily volume of 349,501 shares. The stock had previously closed at $174.31.
Analyst Upgrades and Downgrades
Separately, StockNews.com lowered shares of Sterling Infrastructure from a "buy" rating to a "hold" rating in a report on Sunday, September 15th.
Read Our Latest Research Report on Sterling Infrastructure
Sterling Infrastructure Price Performance
The stock has a market capitalization of $5.95 billion, a P/E ratio of 31.65, a price-to-earnings-growth ratio of 1.79 and a beta of 1.15. The business has a fifty day simple moving average of $143.92 and a 200 day simple moving average of $125.60. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.44.
Sterling Infrastructure (NASDAQ:STRL - Get Free Report) last released its earnings results on Monday, August 5th. The construction company reported $1.67 EPS for the quarter, topping the consensus estimate of $1.43 by $0.24. The firm had revenue of $582.82 million for the quarter, compared to the consensus estimate of $553.70 million. Sterling Infrastructure had a net margin of 7.85% and a return on equity of 25.64%. During the same quarter in the previous year, the firm earned $1.27 earnings per share. On average, analysts expect that Sterling Infrastructure, Inc. will post 5.66 earnings per share for the current year.
Insiders Place Their Bets
In other news, EVP Ronald A. Ballschmiede sold 18,700 shares of the company's stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $143.59, for a total value of $2,685,133.00. Following the sale, the executive vice president now directly owns 248,471 shares of the company's stock, valued at $35,677,950.89. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.70% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently modified their holdings of STRL. Allspring Global Investments Holdings LLC lifted its position in Sterling Infrastructure by 691.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 515,800 shares of the construction company's stock valued at $61,040,000 after buying an additional 450,620 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of Sterling Infrastructure by 1,088.1% during the 3rd quarter. Principal Financial Group Inc. now owns 355,546 shares of the construction company's stock worth $51,561,000 after purchasing an additional 325,620 shares during the period. F M Investments LLC purchased a new stake in Sterling Infrastructure in the second quarter valued at approximately $18,379,000. International Assets Investment Management LLC lifted its stake in Sterling Infrastructure by 14,112.0% during the third quarter. International Assets Investment Management LLC now owns 142,120 shares of the construction company's stock worth $20,610,000 after purchasing an additional 141,120 shares in the last quarter. Finally, Congress Asset Management Co. raised its holdings in shares of Sterling Infrastructure by 19.1% in the 3rd quarter. Congress Asset Management Co. now owns 647,924 shares of the construction company's stock valued at $93,962,000 after buying an additional 104,096 shares during the period. Institutional investors and hedge funds own 80.95% of the company's stock.
About Sterling Infrastructure
(
Get Free Report)
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.
Further Reading
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