Sterling Infrastructure (NASDAQ:STRL) Director Sells $1,001,000.00 in Stock

Sterling Infrastructure, Inc. (NASDAQ:STRL) Director Dwayne Andree Wilson sold 2,860 shares of Sterling Infrastructure stock in a transaction that occurred 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 completion of the sale, the director owned 14,749 shares of the company’s stock, valued at approximately $5,162,150. The trade was a 16.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Sterling Infrastructure Price Performance

Sterling Infrastructure stock opened at $364.25 on Friday. The firm has a market cap of $11.19 billion, a PE ratio of 35.71, a price-to-earnings-growth ratio of 2.12 and a beta of 1.50. 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 stock’s fifty day moving average price is $324.30 and its two-hundred day moving average price is $317.45. Sterling Infrastructure, Inc. has a one year low of $96.34 and a one year high of $419.14.

Sterling Infrastructure (NASDAQ:STRL) last released its earnings results on Monday, November 3rd. The construction company reported $3.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.79 by $0.69. Sterling Infrastructure had a return on equity of 29.81% and a net margin of 14.14%.The company had revenue of $689.02 million for the quarter, compared to analyst estimates of $618.80 million. As a group, research analysts expect that Sterling Infrastructure, Inc. will post 5.98 EPS for the current fiscal year.

Sterling Infrastructure announced that its board has initiated a stock buyback program on Wednesday, November 12th that permits the company to buyback $400.00 million in outstanding shares. This buyback authorization permits the construction company to reacquire up to 3.4% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

Several equities research analysts have weighed in on STRL shares. Zacks Research cut Sterling Infrastructure from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. Wall Street Zen cut Sterling Infrastructure from a “strong-buy” rating to a “buy” rating in a report on Friday, September 26th. Weiss Ratings lowered Sterling Infrastructure from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, January 12th. Finally, DA Davidson lifted their target price on Sterling Infrastructure from $355.00 to $460.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $460.00.

Institutional Investors Weigh In On Sterling Infrastructure

Hedge funds have recently modified their holdings of the company. UMB Bank n.a. grew its position in Sterling Infrastructure by 27.5% during the 3rd quarter. UMB Bank n.a. now owns 130 shares of the construction company’s stock worth $44,000 after acquiring an additional 28 shares during the last quarter. Fifth Third Bancorp boosted its stake in shares of Sterling Infrastructure by 76.1% during the third quarter. Fifth Third Bancorp now owns 81 shares of the construction company’s stock valued at $28,000 after purchasing an additional 35 shares in the last quarter. Hantz Financial Services Inc. grew its holdings in shares of Sterling Infrastructure by 16.1% during the second quarter. Hantz Financial Services Inc. now owns 295 shares of the construction company’s stock worth $68,000 after purchasing an additional 41 shares during the last quarter. Richardson Financial Services Inc. increased its stake in shares of Sterling Infrastructure by 22.6% in the third quarter. Richardson Financial Services Inc. now owns 233 shares of the construction company’s stock valued at $79,000 after buying an additional 43 shares during the period. Finally, Private Trust Co. NA raised its holdings in Sterling Infrastructure by 9.4% in the 2nd quarter. Private Trust Co. NA now owns 591 shares of the construction company’s stock valued at $136,000 after buying an additional 51 shares during the last quarter. Institutional investors and hedge funds own 80.95% of the company’s stock.

Sterling Infrastructure Company Profile

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.