Sterling Infrastructure (NASDAQ:STRL) Posts Earnings Results

Sterling Infrastructure (NASDAQ:STRL) announced its earnings results on Monday. The construction company reported $3.33 EPS for the quarter, topping the consensus estimate of $2.79 by $0.54, Zacks reports. Sterling Infrastructure had a net margin of 13.33% and a return on equity of 27.93%.

Sterling Infrastructure Price Performance

Shares of STRL traded up $14.87 during mid-day trading on Monday, reaching $392.77. The company had a trading volume of 843,917 shares, compared to its average volume of 622,269. The company has a market capitalization of $11.95 billion, a price-to-earnings ratio of 42.69, a P/E/G ratio of 2.98 and a beta of 1.38. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.42 and a current ratio of 1.42. The company’s 50 day simple moving average is $335.54 and its 200 day simple moving average is $259.70. Sterling Infrastructure has a 1-year low of $96.34 and a 1-year high of $409.33.

Institutional Trading of Sterling Infrastructure

Hedge funds have recently added to or reduced their stakes in the stock. Advisory Services Network LLC lifted its stake in shares of Sterling Infrastructure by 73.0% in the 2nd quarter. Advisory Services Network LLC now owns 3,117 shares of the construction company’s stock valued at $719,000 after acquiring an additional 1,315 shares during the last quarter. Public Sector Pension Investment Board acquired a new position in Sterling Infrastructure in the 2nd quarter worth about $23,933,000. CANADA LIFE ASSURANCE Co raised its position in Sterling Infrastructure by 260.7% in the second quarter. CANADA LIFE ASSURANCE Co now owns 30,984 shares of the construction company’s stock valued at $7,148,000 after purchasing an additional 22,393 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Sterling Infrastructure by 135.3% during the second quarter. Tower Research Capital LLC TRC now owns 4,023 shares of the construction company’s stock valued at $928,000 after purchasing an additional 2,313 shares in the last quarter. Finally, Rakuten Securities Inc. grew its holdings in shares of Sterling Infrastructure by 6,950.0% during the second quarter. Rakuten Securities Inc. now owns 141 shares of the construction company’s stock worth $33,000 after purchasing an additional 139 shares during the last quarter. Institutional investors and hedge funds own 80.95% of the company’s stock.

Analyst Upgrades and Downgrades

STRL has been the topic of a number of analyst reports. Zacks Research raised Sterling Infrastructure from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 5th. DA Davidson upped their target price on Sterling Infrastructure from $265.00 to $355.00 and gave the company a “buy” rating in a research report on Wednesday, August 6th. Wall Street Zen cut Sterling Infrastructure from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 26th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Sterling Infrastructure in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $355.00.

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.