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

by · The Markets Daily

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

Analyst Ratings Changes

Several equities research analysts have recently weighed in on STRL shares. 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 report on Thursday, March 6th. Finally, William Blair began coverage on Sterling Infrastructure in a report on Friday, January 17th. They issued an “outperform” rating on the stock.

Get Our Latest Stock Report on Sterling Infrastructure

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of STRL. Vanguard Group Inc. increased its holdings 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 purchasing an additional 581,847 shares during the period. Principal Financial Group Inc. increased its holdings in Sterling Infrastructure by 1,088.1% during the 3rd quarter. Principal Financial Group Inc. now owns 355,546 shares of the construction company’s stock worth $51,561,000 after purchasing an additional 325,620 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in Sterling Infrastructure during the 4th quarter worth $47,712,000. Capital Research Global Investors increased its holdings in shares of Sterling Infrastructure by 78.5% in the 4th quarter. Capital Research Global Investors now owns 574,976 shares of the construction company’s stock valued at $96,855,000 after acquiring an additional 252,934 shares during the period. Finally, First Trust Advisors LP increased its holdings in shares of Sterling Infrastructure by 74.1% in the 4th quarter. First Trust Advisors LP now owns 356,339 shares of the construction company’s stock valued at $60,025,000 after acquiring an additional 151,642 shares during the period. 80.95% of the stock is currently owned by hedge funds and other institutional investors.

Sterling Infrastructure Trading Down 2.0 %

STRL opened at $118.04 on Wednesday. The stock’s fifty day moving average is $142.42 and its two-hundred day moving average is $155.73. The company has a market capitalization of $3.61 billion, a P/E ratio of 19.94, a PEG ratio of 1.28 and a beta of 1.32. Sterling Infrastructure has a 52 week low of $93.50 and a 52 week high of $206.07. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.41.

About Sterling Infrastructure

(Get Free Report)

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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