Sterling Infrastructure (NASDAQ:STRL) Shares Down 7% – Here’s What Happened

by · The Cerbat Gem

Sterling Infrastructure, Inc. (NASDAQ:STRL – Get Free Report)’s stock price traded down 7% on Friday . The company traded as low as $315.57 and last traded at $316.7990. 89,946 shares traded hands during mid-day trading, a decline of 86% from the average session volume of 646,588 shares. The stock had previously closed at $340.51.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on STRL. Wall Street Zen downgraded shares of Sterling Infrastructure from a “strong-buy” rating to a “buy” rating in a report on Friday, September 26th. Weiss Ratings reissued a “buy (b)” rating on shares of Sterling Infrastructure in a research note on Wednesday, October 8th. DA Davidson boosted their target price on Sterling Infrastructure from $355.00 to $460.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Finally, Zacks Research raised Sterling Infrastructure from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 2nd. One equities research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. According to MarketBeat.com, Sterling Infrastructure presently has an average rating of “Buy” and a consensus price target of $460.00.

Read Our Latest Stock Analysis on Sterling Infrastructure

Sterling Infrastructure Stock Performance

The stock’s 50-day moving average is $353.37 and its 200-day moving average is $294.69. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.00 and a quick ratio of 1.00. The stock has a market cap of $9.82 billion, a price-to-earnings ratio of 31.32, a price-to-earnings-growth ratio of 2.25 and a beta of 1.49.

Sterling Infrastructure (NASDAQ:STRL – Get Free Report) last released its quarterly earnings results on Monday, June 3rd. The construction company reported $0.64 earnings per share for the quarter. Sterling Infrastructure had a net margin of 14.14% and a return on equity of 29.81%. The business had revenue of $403.58 million during the quarter. Analysts anticipate that Sterling Infrastructure, Inc. will post 5.98 EPS for the current fiscal year.

Sterling Infrastructure announced that its board has authorized a share repurchase program on Wednesday, November 12th that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the construction company to purchase up to 3.4% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Institutional Trading of Sterling Infrastructure

Hedge funds and other institutional investors have recently made changes to their positions in the business. Root Financial Partners LLC purchased a new stake in Sterling Infrastructure during the third quarter valued at about $26,000. Wilmington Savings Fund Society FSB purchased a new position in Sterling Infrastructure during the 3rd quarter worth approximately $28,000. Fifth Third Bancorp raised its stake in Sterling Infrastructure by 76.1% during the 3rd quarter. Fifth Third Bancorp now owns 81 shares of the construction company’s stock valued at $28,000 after purchasing an additional 35 shares during the period. Bogart Wealth LLC lifted its holdings in shares of Sterling Infrastructure by 535.7% in the third quarter. Bogart Wealth LLC now owns 89 shares of the construction company’s stock valued at $30,000 after purchasing an additional 75 shares in the last quarter. Finally, Optiver Holding B.V. lifted its holdings in shares of Sterling Infrastructure by 108.2% in the third quarter. Optiver Holding B.V. now owns 102 shares of the construction company’s stock valued at $35,000 after purchasing an additional 53 shares in the last quarter. 80.95% of the stock is currently owned by institutional investors.

Sterling Infrastructure Company Profile

(Get Free Report)

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.

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