Sterling Infrastructure (NASDAQ:STRL) Hits New 1-Year High – Time to Buy?

Sterling Infrastructure, Inc. (NASDAQ:STRL)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $202.50 and last traded at $201.91, with a volume of 258567 shares changing hands. The stock had previously closed at $196.33.

Wall Street Analysts Forecast Growth

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

Sterling Infrastructure Stock Up 1.7 %

The firm’s 50 day moving average is $161.84 and its 200-day moving average is $132.95. The firm has a market cap of $6.13 billion, a PE ratio of 33.16, a P/E/G ratio of 2.20 and a beta of 1.15. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.41.

Sterling Infrastructure (NASDAQ:STRL) last posted its quarterly earnings results on Wednesday, November 6th. The construction company reported $1.97 EPS for the quarter, beating the consensus estimate of $1.68 by $0.29. The company had revenue of $593.74 million during the quarter, compared to analysts’ expectations of $599.90 million. Sterling Infrastructure had a return on equity of 27.52% and a net margin of 8.77%. During the same quarter in the previous year, the business earned $1.26 EPS. As a group, equities research analysts expect that Sterling Infrastructure, Inc. will post 5.96 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Ronald A. Ballschmiede sold 18,700 shares of Sterling Infrastructure stock in a transaction dated 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 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 7.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 3.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Quarry LP increased its position in shares of Sterling Infrastructure by 510.7% in the third quarter. Quarry LP now owns 171 shares of the construction company’s stock worth $25,000 after acquiring an additional 143 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in Sterling Infrastructure in the third quarter valued at about $26,000. Hantz Financial Services Inc. acquired a new position in shares of Sterling Infrastructure during the second quarter worth about $30,000. Huntington National Bank boosted its position in shares of Sterling Infrastructure by 21,300.0% in the third quarter. Huntington National Bank now owns 214 shares of the construction company’s stock worth $31,000 after buying an additional 213 shares during the period. Finally, Nisa Investment Advisors LLC boosted its position in shares of Sterling Infrastructure by 391.1% in the second quarter. Nisa Investment Advisors LLC now owns 275 shares of the construction company’s stock worth $33,000 after buying an additional 219 shares during the period. 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.