Sterling Infrastructure (NASDAQ:STRL) Director Sells $790,000.00 in Stock

Sterling Infrastructure, Inc. (NASDAQ:STRL) Director Dana O’brien sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $395.00, for a total transaction of $790,000.00. Following the completion of the transaction, the director directly owned 13,498 shares in the company, valued at approximately $5,331,710. The trade was a 12.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Sterling Infrastructure Stock Down 0.6%

Shares of STRL stock opened at $431.43 on Friday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.26. Sterling Infrastructure, Inc. has a 12 month low of $96.34 and a 12 month high of $470.00. The stock has a market cap of $13.25 billion, a P/E ratio of 42.30, a P/E/G ratio of 2.54 and a beta of 1.51. The company has a 50 day simple moving average of $340.38 and a two-hundred day simple moving average of $332.13.

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

Institutional Investors Weigh In On Sterling Infrastructure

A number of institutional investors have recently added to or reduced their stakes in STRL. Empowered Funds LLC bought a new stake in shares of Sterling Infrastructure during the first quarter valued at approximately $378,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Sterling Infrastructure by 12.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 83,983 shares of the construction company’s stock valued at $9,508,000 after acquiring an additional 9,625 shares in the last quarter. Focus Partners Wealth grew its stake in Sterling Infrastructure by 13.7% during the first quarter. Focus Partners Wealth now owns 2,313 shares of the construction company’s stock valued at $262,000 after acquiring an additional 279 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in Sterling Infrastructure by 3.8% in the 2nd quarter. Janney Montgomery Scott LLC now owns 3,593 shares of the construction company’s stock valued at $829,000 after acquiring an additional 133 shares during the last quarter. Finally, Ameritas Advisory Services LLC purchased a new stake in Sterling Infrastructure in the 2nd quarter worth $29,000. 80.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on STRL. Weiss Ratings raised Sterling Infrastructure from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, January 26th. DA Davidson lifted their price objective on Sterling Infrastructure from $355.00 to $460.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. Stifel Nicolaus set a $486.00 target price on shares of Sterling Infrastructure and gave the stock a “buy” rating in a report on Wednesday. Zacks Research downgraded shares of Sterling Infrastructure from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Finally, Cantor Fitzgerald began coverage on shares of Sterling Infrastructure in a research report on Friday, January 23rd. They issued an “overweight” rating and a $413.00 price target for the company. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $453.00.

Sterling Infrastructure Company Profile

Sterling Infrastructure, Inc (NASDAQ: STRL) is a diversified manufacturer and distributor of essential infrastructure products serving municipal, utility and industrial customers across North America. Through its network of wholly owned subsidiaries, the company designs, engineers and produces a wide range of cast and fabricated solutions tailored to the needs of the waterworks, natural gas, telecommunications, electric, traffic safety and parks & recreation markets.

The company’s product portfolio encompasses ductile iron and composite fittings, valve boxes, manhole frames and covers, water and gas meter sets, street light poles and mounting accessories, traffic sign posts with breakaway systems, bollards and related system components.