Sterling Infrastructure (NASDAQ:STRL) Director Dwayne Andree Wilson Sells 2,860 Shares
by Sarita Garza · The Markets DailySterling Infrastructure, Inc. (NASDAQ:STRL – Get Free Report) Director Dwayne Andree Wilson sold 2,860 shares of the business’s stock in a transaction on Friday, January 16th. The shares were sold at an average price of $350.00, for a total transaction of $1,001,000.00. Following the sale, the director directly owned 14,749 shares in the company, valued at $5,162,150. The trade was a 16.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Sterling Infrastructure Stock Performance
Shares of Sterling Infrastructure stock traded down $1.37 during trading hours on Tuesday, reaching $349.59. The company had a trading volume of 601,917 shares, compared to its average volume of 491,422. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market cap of $10.74 billion, a PE ratio of 34.27, a price-to-earnings-growth ratio of 2.06 and a beta of 1.50. Sterling Infrastructure, Inc. has a one year low of $96.34 and a one year high of $419.14. The business has a fifty day simple moving average of $324.55 and a 200 day simple moving average of $316.01.
Sterling Infrastructure (NASDAQ:STRL – Get Free Report) last released its quarterly earnings data on Monday, November 3rd. The construction company reported $3.48 EPS for the quarter, beating analysts’ consensus estimates of $2.79 by $0.69. Sterling Infrastructure had a net margin of 14.14% and a return on equity of 29.81%. The company had revenue of $689.02 million during the quarter, compared to analyst estimates of $618.80 million. On average, analysts anticipate that Sterling Infrastructure, Inc. will post 5.98 earnings per share for the current fiscal year.
Sterling Infrastructure announced that its Board of Directors has initiated a share buyback plan on Wednesday, November 12th that allows the company to buyback $400.00 million in shares. This buyback authorization allows the construction company to reacquire up to 3.4% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently made changes to their positions in STRL. Savvy Advisors Inc. increased its stake in shares of Sterling Infrastructure by 7.1% during the fourth quarter. Savvy Advisors Inc. now owns 1,204 shares of the construction company’s stock valued at $369,000 after purchasing an additional 80 shares in the last quarter. Palisades Investment Partners LLC grew its stake in shares of Sterling Infrastructure by 1.8% in the 4th quarter. Palisades Investment Partners LLC now owns 97,505 shares of the construction company’s stock worth $29,859,000 after buying an additional 1,705 shares during the last quarter. Harbor Capital Advisors Inc. increased its position in Sterling Infrastructure by 6,893.6% during the 4th quarter. Harbor Capital Advisors Inc. now owns 3,287 shares of the construction company’s stock valued at $1,007,000 after buying an additional 3,240 shares in the last quarter. Balboa Wealth Partners boosted its holdings in Sterling Infrastructure by 1.0% in the fourth quarter. Balboa Wealth Partners now owns 15,050 shares of the construction company’s stock worth $4,609,000 after acquiring an additional 153 shares in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new stake in shares of Sterling Infrastructure in the fourth quarter worth $201,000. Hedge funds and other institutional investors own 80.95% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently weighed in on STRL shares. Weiss Ratings lowered shares of Sterling Infrastructure from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, January 12th. DA Davidson boosted their price objective on Sterling Infrastructure from $355.00 to $460.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. Zacks Research cut shares of Sterling Infrastructure from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Finally, Wall Street Zen lowered shares of Sterling Infrastructure from a “strong-buy” rating to a “buy” rating in a report on Friday, September 26th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $460.00.
Get Our Latest Research Report on STRL
About Sterling Infrastructure
Sterling Infrastructure, Inc (NASDAQ: STRL) is a diversified manufacturer and distributor of essential infrastructure products serving municipal, utility and industrial customers across North America. Through its network of wholly owned subsidiaries, the company designs, engineers and produces a wide range of cast and fabricated solutions tailored to the needs of the waterworks, natural gas, telecommunications, electric, traffic safety and parks & recreation markets.
The company’s product portfolio encompasses ductile iron and composite fittings, valve boxes, manhole frames and covers, water and gas meter sets, street light poles and mounting accessories, traffic sign posts with breakaway systems, bollards and related system components.