Sterling Infrastructure (NASDAQ:STRL) Director Sells $820,000.00 in Stock

Sterling Infrastructure, Inc. (NASDAQ:STRL) Director Dana O’brien sold 2,000 shares of the company’s stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $410.00, for a total transaction of $820,000.00. Following the completion of the sale, the director directly owned 11,498 shares of the company’s stock, valued at $4,714,180. This represents a 14.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Sterling Infrastructure Trading Down 0.7%

NASDAQ:STRL traded down $3.06 on Tuesday, hitting $415.55. The stock had a trading volume of 456,477 shares, compared to its average volume of 416,128. Sterling Infrastructure, Inc. has a 1-year low of $96.34 and a 1-year high of $426.09. The stock has a market cap of $12.77 billion, a price-to-earnings ratio of 40.74, a PEG ratio of 2.45 and a beta of 1.51. The company has a fifty day moving average price of $336.19 and a two-hundred day moving average price of $330.71. 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 announced that its board has approved a share buyback plan on Wednesday, November 12th that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the construction company to buy up to 3.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Institutional Trading of Sterling Infrastructure

Hedge funds have recently modified their holdings of the stock. EverSource Wealth Advisors LLC grew its stake in Sterling Infrastructure by 33.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 107 shares of the construction company’s stock worth $33,000 after purchasing an additional 27 shares in the last quarter. UMB Bank n.a. grew its position in shares of Sterling Infrastructure by 27.5% during the third quarter. UMB Bank n.a. now owns 130 shares of the construction company’s stock worth $44,000 after buying an additional 28 shares in the last quarter. CENTRAL TRUST Co increased its stake in shares of Sterling Infrastructure by 7.9% during the fourth quarter. CENTRAL TRUST Co now owns 397 shares of the construction company’s stock worth $122,000 after buying an additional 29 shares during the period. Lido Advisors LLC raised its holdings in Sterling Infrastructure by 1.8% in the fourth quarter. Lido Advisors LLC now owns 1,725 shares of the construction company’s stock valued at $578,000 after acquiring an additional 31 shares in the last quarter. Finally, Fifth Third Bancorp raised its holdings in Sterling Infrastructure by 76.1% in the third quarter. Fifth Third Bancorp now owns 81 shares of the construction company’s stock valued at $28,000 after acquiring an additional 35 shares in the last quarter. 80.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

STRL has been the topic of several research analyst reports. DA Davidson boosted their price objective on shares of Sterling Infrastructure from $355.00 to $460.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. Weiss Ratings upgraded shares of Sterling Infrastructure from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, January 26th. Cantor Fitzgerald assumed coverage on shares of Sterling Infrastructure in a research note on Friday, January 23rd. They issued an “overweight” rating and a $413.00 price target on the stock. Finally, Zacks Research cut shares of Sterling Infrastructure from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $436.50.

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.