Sterling Infrastructure (NASDAQ:STRL) Director Dana O’brien Sells 2,000 Shares of Stock
by Tristan Rich · The Markets DailySterling Infrastructure, Inc. (NASDAQ:STRL – Get Free Report) Director Dana O’brien sold 2,000 shares of the business’s stock in a transaction on Friday, February 6th. The stock was sold at an average price of $395.00, for a total transaction of $790,000.00. Following the completion of the transaction, the director owned 13,498 shares of the company’s stock, valued at approximately $5,331,710. This trade represents a 12.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Sterling Infrastructure Stock Down 0.7%
Shares of NASDAQ STRL traded down $3.06 during mid-day trading on Tuesday, hitting $415.55. The company had a trading volume of 456,477 shares, compared to its average volume of 416,128. The company has a market capitalization of $12.77 billion, a PE ratio of 40.74, a price-to-earnings-growth ratio of 2.45 and a beta of 1.51. The business’s 50-day simple moving average is $336.19 and its 200 day simple moving average is $330.71. Sterling Infrastructure, Inc. has a 1-year low of $96.34 and a 1-year high of $426.09. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.00 and a quick ratio of 1.00.
Sterling Infrastructure announced that its board has initiated a share repurchase plan on Wednesday, November 12th that authorizes the company to repurchase $400.00 million in outstanding shares. This repurchase authorization authorizes the construction company to buy up to 3.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
Wall Street Analyst Weigh In
STRL has been the topic of several analyst reports. DA Davidson raised their target price on shares of Sterling Infrastructure from $355.00 to $460.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. Cantor Fitzgerald assumed coverage on shares of Sterling Infrastructure in a research report on Friday, January 23rd. They issued an “overweight” rating and a $413.00 price objective on the stock. Zacks Research cut shares of Sterling Infrastructure from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. Finally, Weiss Ratings raised Sterling Infrastructure from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, January 26th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $436.50.
View Our Latest Research Report on Sterling Infrastructure
Institutional Investors Weigh In On Sterling Infrastructure
A number of institutional investors and hedge funds have recently bought and sold shares of STRL. Empowered Funds LLC purchased a new position in shares of Sterling Infrastructure during the first quarter worth about $378,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Sterling Infrastructure by 12.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 83,983 shares of the construction company’s stock valued at $9,508,000 after purchasing an additional 9,625 shares during the period. Focus Partners Wealth grew its stake in Sterling Infrastructure by 13.7% during the 1st quarter. Focus Partners Wealth now owns 2,313 shares of the construction company’s stock worth $262,000 after buying an additional 279 shares during the last quarter. Janney Montgomery Scott LLC increased its position in Sterling Infrastructure by 3.8% during the second quarter. Janney Montgomery Scott LLC now owns 3,593 shares of the construction company’s stock worth $829,000 after buying an additional 133 shares during the period. Finally, Ameritas Advisory Services LLC purchased a new stake in Sterling Infrastructure in the second quarter valued at approximately $29,000. 80.95% of the stock is owned by hedge funds and other institutional investors.
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.