Sterling Infrastructure (NASDAQ:STRL) Sees Large Volume Increase – What’s Next?

Shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) saw unusually-strong trading volume on Monday . Approximately 611,286 shares traded hands during trading, an increase of 74% from the previous session’s volume of 350,900 shares.The stock last traded at $147.89 and had previously closed at $187.30.

Analysts Set New Price Targets

Separately, William Blair started coverage on shares of Sterling Infrastructure in a research note on Friday, January 17th. They set an “outperform” rating for the company.

Sterling Infrastructure Stock Performance

The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.41. The firm’s 50-day moving average is $180.47 and its two-hundred day moving average is $152.03. The stock has a market cap of $4.33 billion, a price-to-earnings ratio of 23.84, a P/E/G ratio of 2.07 and a beta of 1.26.

Sterling Infrastructure (NASDAQ:STRL) last released its quarterly earnings results on Wednesday, November 6th. The construction company reported $1.97 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.29. Sterling Infrastructure had a net margin of 8.77% and a return on equity of 27.52%. The firm had revenue of $593.74 million during the quarter, compared to the consensus estimate of $599.90 million. During the same quarter in the prior year, the firm earned $1.26 EPS. As a group, sell-side analysts expect that Sterling Infrastructure, Inc. will post 5.98 earnings per share for the current year.

Insider Activity at Sterling Infrastructure

In other news, Director Dana C. O’brien sold 2,000 shares of the stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $175.89, for a total value of $351,780.00. Following the completion of the sale, 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 transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 3.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Sterling Infrastructure

Hedge funds have recently made changes to their positions in the stock. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in Sterling Infrastructure during the 4th quarter worth approximately $47,712,000. Van ECK Associates Corp boosted its position in Sterling Infrastructure by 36.7% in the 4th quarter. Van ECK Associates Corp now owns 26,512 shares of the construction company’s stock valued at $4,466,000 after buying an additional 7,111 shares during the period. Legato Capital Management LLC boosted its position in Sterling Infrastructure by 4.0% in the 4th quarter. Legato Capital Management LLC now owns 23,707 shares of the construction company’s stock valued at $3,993,000 after buying an additional 922 shares during the period. Allspring Global Investments Holdings LLC boosted its position in Sterling Infrastructure by 7.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 666,909 shares of the construction company’s stock valued at $111,873,000 after buying an additional 49,008 shares during the period. Finally, Peterson Wealth Services purchased a new position in Sterling Infrastructure in the 4th quarter valued at approximately $834,000. Hedge funds and other institutional investors 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.