Sterling Infrastructure (NASDAQ:STRL) Research Coverage Started at Cantor Fitzgerald

Cantor Fitzgerald started coverage on shares of Sterling Infrastructure (NASDAQ:STRL) in a report released on Friday, MarketBeat.com reports. The brokerage issued an overweight rating and a $413.00 price target on the construction company’s stock.

A number of other equities analysts have also commented on STRL. Zacks Research lowered shares of Sterling Infrastructure from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. Wall Street Zen cut shares of Sterling Infrastructure from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 26th. DA Davidson boosted their price target on shares of Sterling Infrastructure from $355.00 to $460.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. Finally, Weiss Ratings downgraded Sterling Infrastructure from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, January 12th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $436.50.

Sterling Infrastructure Trading Down 3.5%

Shares of STRL stock opened at $351.39 on Friday. The stock has a market capitalization of $10.79 billion, a price-to-earnings ratio of 34.45, a PEG ratio of 2.06 and a beta of 1.50. The company’s fifty day simple moving average is $324.56 and its two-hundred day simple moving average is $319.49. Sterling Infrastructure has a 1 year low of $96.34 and a 1 year high of $419.14. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.00 and a quick ratio of 1.00.

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

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

Insider Buying and Selling at Sterling Infrastructure

In other news, Director Dwayne Andree Wilson sold 2,860 shares of the company’s stock in a transaction on Friday, January 16th. The shares were sold at an average price of $350.00, for a total value of $1,001,000.00. Following the completion of the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of STRL. Empowered Funds LLC bought a new stake in shares of Sterling Infrastructure in the 1st quarter valued at about $378,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Sterling Infrastructure by 12.9% in 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 purchasing an additional 9,625 shares during the last quarter. Focus Partners Wealth boosted its stake in shares of 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 purchasing an additional 279 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Sterling Infrastructure by 9.3% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 5,251 shares of the construction company’s stock worth $1,243,000 after purchasing an additional 447 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its stake in shares of Sterling Infrastructure by 67.7% in the second quarter. Farther Finance Advisors LLC now owns 1,746 shares of the construction company’s stock worth $403,000 after buying an additional 705 shares during the period. 80.95% of the stock is owned by institutional investors.

About Sterling Infrastructure

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.