Sterling Infrastructure (NASDAQ:STRL) Upgraded at Wall Street Zen

by · The Cerbat Gem

Sterling Infrastructure (NASDAQ:STRL – Get Free Report) was upgraded by stock analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a note issued to investors on Saturday.

A number of other brokerages also recently weighed in on STRL. DA Davidson boosted their price objective on shares of Sterling Infrastructure from $265.00 to $355.00 and gave the company a “buy” rating in a research report on Wednesday, August 6th. Zacks Research upgraded shares of Sterling Infrastructure from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 5th. One analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $355.00.

Get Our Latest Report on Sterling Infrastructure

Sterling Infrastructure Price Performance

Shares of NASDAQ:STRL opened at $313.55 on Friday. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.31. Sterling Infrastructure has a fifty-two week low of $96.34 and a fifty-two week high of $321.79. The firm has a 50-day simple moving average of $272.84 and a 200 day simple moving average of $201.85. The company has a market cap of $9.54 billion, a PE ratio of 34.08, a P/E/G ratio of 2.32 and a beta of 1.35.

Insider Activity

In other news, General Counsel Mark D. Wolf sold 3,500 shares of the stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $225.87, for a total value of $790,545.00. Following the completion of the transaction, the general counsel directly owned 29,315 shares in the company, valued at $6,621,379.05. This trade represents a 10.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 2.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Ieq Capital LLC boosted its holdings in shares of Sterling Infrastructure by 94.8% in the first quarter. Ieq Capital LLC now owns 8,144 shares of the construction company’s stock valued at $922,000 after acquiring an additional 3,963 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Sterling Infrastructure by 38.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 4,804 shares of the construction company’s stock valued at $544,000 after purchasing an additional 1,337 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in Sterling Infrastructure by 30.3% during the first quarter. Envestnet Asset Management Inc. now owns 78,454 shares of the construction company’s stock valued at $8,882,000 after purchasing an additional 18,254 shares during the last quarter. D.A. Davidson & CO. lifted its stake in Sterling Infrastructure by 5.0% during the first quarter. D.A. Davidson & CO. now owns 2,424 shares of the construction company’s stock valued at $274,000 after purchasing an additional 116 shares during the last quarter. Finally, Hudson Edge Investment Partners Inc. acquired a new stake in Sterling Infrastructure during the first quarter valued at approximately $823,000. 80.95% of the stock is currently owned by institutional investors.

About Sterling Infrastructure

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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.

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