Sterling Infrastructure (NASDAQ:STRL) Shares Gap Down – Here’s What Happened

Sterling Infrastructure, Inc. (NASDAQ:STRL)’s share price gapped down prior to trading on Monday . The stock had previously closed at $121.37, but opened at $115.94. Sterling Infrastructure shares last traded at $117.79, with a volume of 56,937 shares changing hands.

Analyst Ratings Changes

A number of analysts have recently commented on STRL shares. DA Davidson upgraded Sterling Infrastructure from a “neutral” rating to a “buy” rating and set a $185.00 price objective for the company in a research report on Thursday, February 27th. William Blair started coverage on Sterling Infrastructure in a research report on Friday, January 17th. They issued an “outperform” rating for the company. Finally, StockNews.com upgraded Sterling Infrastructure from a “hold” rating to a “buy” rating in a research report on Thursday, March 6th.

Sterling Infrastructure Price Performance

The stock has a 50 day simple moving average of $144.56 and a two-hundred day simple moving average of $155.73. The company has a market cap of $3.66 billion, a price-to-earnings ratio of 20.16, a price-to-earnings-growth ratio of 1.28 and a beta of 1.32. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.29 and a quick ratio of 1.29.

Insider Activity

In other news, Director Dana C. O’brien sold 2,000 shares of the company’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $175.89, for a total value of $351,780.00. Following the transaction, the director now owns 25,901 shares of the company’s stock, valued at $4,555,726.89. This represents a 7.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On Sterling Infrastructure

Several hedge funds have recently bought and sold shares of the company. Huntington National Bank lifted its stake in Sterling Infrastructure by 34.6% during the 4th quarter. Huntington National Bank now owns 288 shares of the construction company’s stock worth $49,000 after acquiring an additional 74 shares in the last quarter. Kovack Advisors Inc. lifted its stake in Sterling Infrastructure by 3.2% during the 4th quarter. Kovack Advisors Inc. now owns 2,914 shares of the construction company’s stock worth $491,000 after acquiring an additional 91 shares in the last quarter. Willis Investment Counsel lifted its stake in 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 acquiring an additional 101 shares in the last quarter. JT Stratford LLC lifted its stake in Sterling Infrastructure by 1.0% during the 4th quarter. JT Stratford LLC now owns 12,465 shares of the construction company’s stock worth $2,100,000 after acquiring an additional 121 shares in the last quarter. Finally, Xponance Inc. lifted its stake in Sterling Infrastructure by 6.5% during the 4th quarter. Xponance Inc. now owns 2,144 shares of the construction company’s stock worth $361,000 after acquiring an additional 131 shares in the last quarter. Institutional investors and hedge funds own 80.95% of the company’s stock.

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.