Sterling Infrastructure (NASDAQ:STRL) Shares Gap Up – Should You Buy?

Sterling Infrastructure, Inc. (NASDAQ:STRL) gapped up before the market opened on Wednesday . The stock had previously closed at $115.94, but opened at $123.07. Sterling Infrastructure shares last traded at $119.62, with a volume of 312,927 shares trading hands.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on STRL. StockNews.com upgraded shares of Sterling Infrastructure from a “hold” rating to a “buy” rating in a research report on Thursday, February 20th. William Blair assumed coverage on shares of Sterling Infrastructure in a research note on Friday, January 17th. They set an “outperform” rating on the stock.

Sterling Infrastructure Stock Performance

The stock has a fifty day moving average price of $158.12 and a 200-day moving average price of $155.09. The firm has a market cap of $3.75 billion, a price-to-earnings ratio of 20.62, a price-to-earnings-growth ratio of 1.28 and a beta of 1.24. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.41.

Insider Activity

In other news, Director Dana C. O’brien sold 2,000 shares of the business’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $175.89, for a total transaction of $351,780.00. Following the completion of the sale, the director now directly owns 25,901 shares of the company’s stock, valued at $4,555,726.89. The trade was a 7.17 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 3.70% of the company’s stock.

Institutional Trading of Sterling Infrastructure

A number of hedge funds and other institutional investors have recently modified their holdings of STRL. Chartwell Investment Partners LLC increased its holdings in shares of Sterling Infrastructure by 0.8% in the 3rd quarter. Chartwell Investment Partners LLC now owns 8,958 shares of the construction company’s stock worth $1,299,000 after acquiring an additional 70 shares during the period. Huntington National Bank lifted its position in shares of Sterling Infrastructure by 34.6% in the fourth quarter. Huntington National Bank now owns 288 shares of the construction company’s stock worth $49,000 after buying an additional 74 shares during the last quarter. Kovack Advisors Inc. increased its position in Sterling Infrastructure by 3.2% in the 4th quarter. Kovack Advisors Inc. now owns 2,914 shares of the construction company’s stock worth $491,000 after buying an additional 91 shares during the period. Willis Investment Counsel grew its holdings in shares of Sterling Infrastructure by 1.4% during the 4th quarter. Willis Investment Counsel now owns 7,535 shares of the construction company’s stock worth $1,269,000 after purchasing an additional 101 shares in the last quarter. Finally, JT Stratford LLC boosted its holdings in Sterling Infrastructure by 1.0% during the fourth quarter. JT Stratford LLC now owns 12,465 shares of the construction company’s stock valued at $2,100,000 after purchasing an additional 121 shares in the last quarter. 80.95% of the stock is owned by hedge funds and other institutional investors.

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.