Dwayne Andree Wilson Sells 2,860 Shares of Sterling Infrastructure (NASDAQ:STRL) Stock

Sterling Infrastructure, Inc. (NASDAQ:STRL) Director Dwayne Andree Wilson sold 2,860 shares of the company’s stock in a transaction dated Friday, January 16th. The stock was sold at an average price of $350.00, for a total transaction of $1,001,000.00. Following the completion of the sale, the director directly owned 14,749 shares of the company’s stock, valued at $5,162,150. The trade was a 16.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Sterling Infrastructure Price Performance

Sterling Infrastructure stock opened at $362.53 on Thursday. Sterling Infrastructure, Inc. has a 52 week low of $96.34 and a 52 week high of $419.14. The company’s 50 day moving average price is $323.55 and its two-hundred day moving average price is $317.13. The stock has a market cap of $11.14 billion, a P/E ratio of 35.54, a P/E/G ratio of 2.05 and a beta of 1.50. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.26.

Sterling Infrastructure (NASDAQ:STRL) last issued its quarterly earnings results on Monday, November 3rd. The construction company reported $3.48 EPS for the quarter, beating analysts’ consensus estimates of $2.79 by $0.69. The company had revenue of $689.02 million during the quarter, compared to the consensus estimate of $618.80 million. Sterling Infrastructure had a return on equity of 29.81% and a net margin of 14.14%. On average, equities analysts predict that Sterling Infrastructure, Inc. will post 5.98 earnings per share for the current year.

Sterling Infrastructure announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, November 12th that allows the company to buyback $400.00 million in shares. This buyback authorization allows the construction company to purchase up to 3.4% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On Sterling Infrastructure

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Root Financial Partners LLC purchased a new position in shares of Sterling Infrastructure in the third quarter worth about $26,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Sterling Infrastructure during the 3rd quarter valued at approximately $28,000. Fifth Third Bancorp boosted its holdings in Sterling Infrastructure by 76.1% in the 3rd quarter. Fifth Third Bancorp now owns 81 shares of the construction company’s stock worth $28,000 after buying an additional 35 shares during the period. Bogart Wealth LLC grew its stake in Sterling Infrastructure by 535.7% in the 3rd quarter. Bogart Wealth LLC now owns 89 shares of the construction company’s stock valued at $30,000 after buying an additional 75 shares in the last quarter. Finally, Optiver Holding B.V. grew its stake in Sterling Infrastructure by 108.2% in the 3rd quarter. Optiver Holding B.V. now owns 102 shares of the construction company’s stock valued at $35,000 after buying an additional 53 shares in the last quarter. Institutional investors own 80.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on STRL. DA Davidson boosted their price target on shares of Sterling Infrastructure from $355.00 to $460.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Wall Street Zen lowered shares of Sterling Infrastructure from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 26th. Zacks Research cut shares of Sterling Infrastructure from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. Finally, Weiss Ratings lowered shares of Sterling Infrastructure from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, January 12th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Sterling Infrastructure has an average rating of “Hold” and a consensus target price of $460.00.

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.