Sterling Infrastructure (NASDAQ:STRL) Hits New 1-Year High – Here’s Why

Shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $159.47 and last traded at $159.47, with a volume of 14300 shares traded. The stock had previously closed at $157.10.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded Sterling Infrastructure from a “buy” rating to a “hold” rating in a research report on Sunday, September 15th.

Sterling Infrastructure Stock Down 2.2 %

The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.44. The stock has a market cap of $4.82 billion, a P/E ratio of 32.46, a PEG ratio of 1.82 and a beta of 1.17. The firm has a 50-day simple moving average of $128.02 and a two-hundred day simple moving average of $119.28.

Sterling Infrastructure (NASDAQ:STRL) last released its quarterly earnings results on Monday, August 5th. The construction company reported $1.67 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.24. The business had revenue of $582.82 million for the quarter, compared to analyst estimates of $553.70 million. Sterling Infrastructure had a net margin of 7.85% and a return on equity of 25.64%. During the same period last year, the firm earned $1.27 earnings per share. Equities research analysts expect that Sterling Infrastructure, Inc. will post 5.66 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Sterling Infrastructure news, EVP Ronald A. Ballschmiede sold 18,700 shares of Sterling Infrastructure stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $143.59, for a total value of $2,685,133.00. Following the completion of the transaction, the executive vice president now directly owns 248,471 shares of the company’s stock, valued at $35,677,950.89. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Sterling Infrastructure

Hedge funds have recently bought and sold shares of the company. Nordea Investment Management AB increased its stake in Sterling Infrastructure by 47.1% in the first quarter. Nordea Investment Management AB now owns 50,420 shares of the construction company’s stock valued at $5,651,000 after acquiring an additional 16,142 shares during the last quarter. Inspire Investing LLC acquired a new stake in shares of Sterling Infrastructure in the 1st quarter valued at $449,000. Principal Financial Group Inc. increased its stake in shares of Sterling Infrastructure by 49.8% in the 1st quarter. Principal Financial Group Inc. now owns 26,038 shares of the construction company’s stock valued at $2,872,000 after purchasing an additional 8,657 shares during the last quarter. Robeco Schweiz AG acquired a new position in shares of Sterling Infrastructure during the 2nd quarter worth $1,420,000. Finally, Hennessy Advisors Inc. lifted its position in shares of Sterling Infrastructure by 20.4% during the 1st quarter. Hennessy Advisors Inc. now owns 440,200 shares of the construction company’s stock worth $48,558,000 after buying an additional 74,500 shares during the last quarter. 80.95% of the stock is owned by 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.