Sterling Infrastructure (NASDAQ:STRL) Stock Price Up 7.2% – Here’s Why

Sterling Infrastructure, Inc. (NASDAQ:STRL)’s share price was up 7.2% on Wednesday . The company traded as high as $125.58 and last traded at $126.54. Approximately 254,017 shares traded hands during mid-day trading, a decline of 35% from the average daily volume of 390,380 shares. The stock had previously closed at $118.04.

Analyst Upgrades and Downgrades

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

Sterling Infrastructure Price Performance

The firm’s 50-day moving average is $142.42 and its 200-day moving average is $155.73. The company has a market capitalization of $3.86 billion, a PE ratio of 21.36, a price-to-earnings-growth ratio of 1.28 and a beta of 1.32. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.41.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in Sterling Infrastructure by 30.0% in the fourth quarter. Vanguard Group Inc. now owns 2,523,804 shares of the construction company’s stock worth $425,135,000 after acquiring an additional 581,847 shares in the last quarter. Invesco Ltd. lifted its stake in Sterling Infrastructure by 22.5% in the fourth quarter. Invesco Ltd. now owns 757,273 shares of the construction company’s stock worth $127,563,000 after purchasing an additional 139,081 shares during the last quarter. Geode Capital Management LLC lifted its stake in Sterling Infrastructure by 0.5% in the third quarter. Geode Capital Management LLC now owns 719,980 shares of the construction company’s stock worth $104,431,000 after purchasing an additional 3,918 shares during the last quarter. State Street Corp lifted its stake in Sterling Infrastructure by 0.7% in the third quarter. State Street Corp now owns 713,234 shares of the construction company’s stock worth $103,433,000 after purchasing an additional 5,106 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in Sterling Infrastructure by 7.9% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 666,909 shares of the construction company’s stock worth $111,873,000 after purchasing an additional 49,008 shares during the last quarter. 80.95% of the stock is currently 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.