Sterling Infrastructure, Inc. (NASDAQ:STRL) Receives $453.00 Consensus Price Target from Brokerages

Shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) have been assigned an average rating of “Moderate Buy” from the five analysts that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $453.00.

A number of research analysts have recently weighed in on the company. DA Davidson raised 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. Cantor Fitzgerald initiated coverage on Sterling Infrastructure in a research note on Friday, January 23rd. They set an “overweight” rating and a $413.00 price target for the company. Zacks Research downgraded Sterling Infrastructure from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. Stifel Nicolaus set a $486.00 price objective on Sterling Infrastructure and gave the stock a “buy” rating in a report on Wednesday, February 11th. Finally, Weiss Ratings raised shares of Sterling Infrastructure from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, January 26th.

Sterling Infrastructure Stock Performance

STRL opened at $437.77 on Thursday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a market capitalization of $13.45 billion, a price-to-earnings ratio of 42.92, a PEG ratio of 2.51 and a beta of 1.51. The company has a fifty day moving average of $344.90 and a 200 day moving average of $335.51. Sterling Infrastructure has a fifty-two week low of $96.34 and a fifty-two week high of $470.00.

Sterling Infrastructure declared that its board has approved a stock buyback plan on Wednesday, November 12th that allows the company to buyback $400.00 million in shares. This buyback authorization allows the construction company to reacquire up to 3.4% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In related news, Director Dana C. O’brien sold 2,000 shares of the stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $410.00, for a total value of $820,000.00. Following the completion of the transaction, the director owned 11,498 shares of the company’s stock, valued at approximately $4,714,180. This trade represents a 14.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Dwayne Andree Wilson sold 2,860 shares of Sterling Infrastructure stock in a transaction dated Friday, January 16th. The stock was sold at an average price of $350.00, for a total value of $1,001,000.00. Following the completion of the transaction, the director owned 14,749 shares of the company’s stock, valued at approximately $5,162,150. This represents a 16.24% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 6,860 shares of company stock valued at $2,611,000 over the last three months. Corporate insiders own 2.70% of the company’s stock.

Institutional Investors Weigh In On Sterling Infrastructure

Several institutional investors have recently modified their holdings of STRL. Root Financial Partners LLC purchased a new stake in Sterling Infrastructure in the third quarter worth $26,000. Wilmington Savings Fund Society FSB bought a new position in shares of Sterling Infrastructure in the third quarter worth about $28,000. Fifth Third Bancorp grew its holdings in shares of Sterling Infrastructure by 76.1% in the third quarter. Fifth Third Bancorp now owns 81 shares of the construction company’s stock worth $28,000 after purchasing an additional 35 shares during the last quarter. Bogart Wealth LLC increased 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 worth $30,000 after buying an additional 75 shares during the period. Finally, Optiver Holding B.V. lifted its holdings in Sterling Infrastructure by 108.2% during 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. 80.95% of the stock is owned by institutional investors.

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.