Sterling Infrastructure, Inc. (NASDAQ:STRL) Short Interest Up 26.8% in February

Sterling Infrastructure, Inc. (NASDAQ:STRL) saw a significant 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. Based on an average daily trading volume, of 562,800 shares, the days-to-cover ratio is presently 3.1 days. Approximately 5.9% of the company’s stock are short sold.

Sterling Infrastructure Stock Performance

Shares of STRL opened at $121.37 on Monday. Sterling Infrastructure has a 12 month low of $93.50 and a 12 month high of $206.07. The firm has a fifty day simple moving average of $144.56 and a 200 day simple moving average of $155.73. The stock has a market capitalization of $3.71 billion, a price-to-earnings ratio of 20.50, a PEG ratio of 1.28 and a beta of 1.32. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.41.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. DA Davidson upgraded shares of Sterling Infrastructure from a “neutral” rating to a “buy” rating and set a $185.00 price target for the company in a report on Thursday, February 27th. StockNews.com upgraded shares of Sterling Infrastructure from a “hold” rating to a “buy” rating in a report on Thursday, March 6th. Finally, William Blair assumed coverage on shares of Sterling Infrastructure in a report on Friday, January 17th. They set an “outperform” rating for the company.

Insider Activity

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Quarry LP boosted its holdings in Sterling Infrastructure by 510.7% during the third quarter. Quarry LP now owns 171 shares of the construction company’s stock worth $25,000 after purchasing an additional 143 shares during the last quarter. Huntington National Bank raised its position in Sterling Infrastructure by 21,300.0% during the third quarter. Huntington National Bank now owns 214 shares of the construction company’s stock worth $31,000 after acquiring an additional 213 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in Sterling Infrastructure during the fourth quarter worth $39,000. National Bank of Canada FI bought a new stake in Sterling Infrastructure during the fourth quarter worth $56,000. Finally, Arcadia Investment Management Corp MI bought a new stake in Sterling Infrastructure during the fourth quarter worth $71,000. 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.