Sterling Infrastructure (NASDAQ:STRL) Trading Down 5.4% – Here’s What Happened

Shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) traded down 5.4% during trading on Tuesday . The stock traded as low as $193.20 and last traded at $191.90. 84,692 shares traded hands during trading, a decline of 83% from the average session volume of 500,767 shares. The stock had previously closed at $202.91.

Analysts Set New Price Targets

A number of research firms recently commented on STRL. DA Davidson raised shares of Sterling Infrastructure from a “neutral” rating to a “buy” rating and set a $185.00 target price for the company in a research report on Thursday, February 27th. Wall Street Zen upgraded Sterling Infrastructure from a “hold” rating to a “buy” rating in a research note on Thursday, May 22nd.

Sterling Infrastructure Stock Down 3.5%

The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.41. The business’s 50-day moving average is $162.26 and its 200-day moving average is $156.71. The company has a market capitalization of $5.95 billion, a price-to-earnings ratio of 32.96, a P/E/G ratio of 1.28 and a beta of 1.37.

Institutional Trading of Sterling Infrastructure

Several large investors have recently modified their holdings of the business. Sunbelt Securities Inc. lifted its position in Sterling Infrastructure by 689.7% during the 1st quarter. Sunbelt Securities Inc. now owns 229 shares of the construction company’s stock worth $26,000 after acquiring an additional 200 shares in the last quarter. Versant Capital Management Inc lifted its holdings in Sterling Infrastructure by 355.8% in the 1st quarter. Versant Capital Management Inc now owns 237 shares of the construction company’s stock worth $27,000 after buying an additional 185 shares in the last quarter. Opal Wealth Advisors LLC acquired a new stake in shares of Sterling Infrastructure during the first quarter valued at about $28,000. SBI Securities Co. Ltd. acquired a new position in shares of Sterling Infrastructure in the fourth quarter worth about $39,000. Finally, Quarry LP grew its stake in Sterling Infrastructure by 107.7% during the 1st quarter. Quarry LP now owns 376 shares of the construction company’s stock valued at $43,000 after purchasing an additional 195 shares in the last quarter. 80.95% of the stock is currently owned by institutional investors and hedge funds.

About Sterling Infrastructure

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.