Short Interest in Sterling Infrastructure, Inc. (NASDAQ:STRL) Grows By 26.8%

Sterling Infrastructure, Inc. (NASDAQ:STRL) was the target of a large growth in short interest in the month of February. As of February 28th, there was short interest totalling 1,750,000 shares, a growth of 26.8% from the February 13th total of 1,380,000 shares. Currently, 5.9% of the company’s stock are sold short. Based on an average trading volume of 562,800 shares, the days-to-cover ratio is presently 3.1 days.

Analyst Upgrades and Downgrades

STRL has been the topic of a number of analyst reports. DA Davidson upgraded Sterling Infrastructure from a “neutral” rating to a “buy” rating and set a $185.00 price target on the stock in a report on Thursday, February 27th. StockNews.com upgraded Sterling Infrastructure from a “hold” rating to a “buy” rating in a research note on Thursday, March 6th. Finally, William Blair initiated coverage on Sterling Infrastructure in a research note on Friday, January 17th. They set an “outperform” rating on the stock.

Sterling Infrastructure Stock Down 2.0 %

Shares of STRL stock opened at $118.04 on Wednesday. Sterling Infrastructure has a 1-year low of $93.50 and a 1-year high of $206.07. The stock’s fifty day moving average price is $142.42 and its 200 day moving average price is $155.73. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.29 and a quick ratio of 1.29. The company has a market cap of $3.61 billion, a price-to-earnings ratio of 19.94, a price-to-earnings-growth ratio of 1.28 and a beta of 1.32.

Institutional Trading of Sterling Infrastructure

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Sterling Infrastructure by 30.0% during the 4th quarter. Vanguard Group Inc. now owns 2,523,804 shares of the construction company’s stock worth $425,135,000 after acquiring an additional 581,847 shares during the period. Invesco Ltd. lifted its position in Sterling Infrastructure by 22.5% during the 4th quarter. Invesco Ltd. now owns 757,273 shares of the construction company’s stock worth $127,563,000 after acquiring an additional 139,081 shares during the period. Geode Capital Management LLC lifted its position in Sterling Infrastructure by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 719,980 shares of the construction company’s stock worth $104,431,000 after acquiring an additional 3,918 shares during the period. State Street Corp lifted its position in Sterling Infrastructure by 0.7% during the 3rd quarter. State Street Corp now owns 713,234 shares of the construction company’s stock worth $103,433,000 after acquiring an additional 5,106 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its position in Sterling Infrastructure by 7.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 666,909 shares of the construction company’s stock worth $111,873,000 after acquiring an additional 49,008 shares during the period. Institutional investors and hedge funds 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.