Sterling Infrastructure (NASDAQ:STRL) Reaches New 52-Week High – What’s Next?

Sterling Infrastructure, Inc. (NASDAQ:STRL) shares hit a new 52-week high on Wednesday . The stock traded as high as $419.14 and last traded at $382.57, with a volume of 869054 shares. The stock had previously closed at $392.77.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Wall Street Zen downgraded Sterling Infrastructure from a “strong-buy” rating to a “buy” rating in a report on Friday, September 26th. DA Davidson lifted their price target on shares of Sterling Infrastructure from $355.00 to $460.00 and gave the company a “buy” rating in a research report on Wednesday. Zacks Research downgraded shares of Sterling Infrastructure from a “strong-buy” rating to a “hold” rating in a research note on Monday. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Sterling Infrastructure in a research report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $460.00.

Sterling Infrastructure Stock Down 5.4%

The firm has a market cap of $11.82 billion, a price-to-earnings ratio of 42.25, a price-to-earnings-growth ratio of 2.98 and a beta of 1.39. The stock has a 50-day moving average of $343.85 and a 200-day moving average of $265.09. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.31.

Sterling Infrastructure (NASDAQ:STRL) last announced its quarterly earnings results on Monday, June 3rd. The construction company reported $0.64 earnings per share (EPS) for the quarter. The company had revenue of $403.58 million during the quarter. Sterling Infrastructure had a net margin of 13.33% and a return on equity of 27.93%. As a group, sell-side analysts forecast that Sterling Infrastructure, Inc. will post 5.98 EPS for the current fiscal year.

Institutional Investors Weigh In On Sterling Infrastructure

A number of institutional investors have recently added to or reduced their stakes in STRL. Florida Financial Advisors LLC increased its position in shares of Sterling Infrastructure by 42.5% during the 3rd quarter. Florida Financial Advisors LLC now owns 2,074 shares of the construction company’s stock valued at $704,000 after purchasing an additional 619 shares during the period. Balboa Wealth Partners raised its position in Sterling Infrastructure by 1.2% in the third quarter. Balboa Wealth Partners now owns 14,897 shares of the construction company’s stock worth $5,060,000 after acquiring an additional 176 shares in the last quarter. Oxinas Partners Wealth Management LLC bought a new position in shares of Sterling Infrastructure during the 3rd quarter valued at about $347,000. CENTRAL TRUST Co acquired a new stake in Sterling Infrastructure during the third quarter valued at approximately $125,000. Finally, Assetmark Inc. increased its holdings in shares of Sterling Infrastructure by 129.9% in the third quarter. Assetmark Inc. now owns 3,037 shares of the construction company’s stock valued at $1,032,000 after buying an additional 1,716 shares in the last quarter. 80.95% of the stock is currently owned by institutional investors and hedge funds.

Sterling Infrastructure Company Profile

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.