Sterling Infrastructure (NASDAQ:STRL) Upgraded by Cantor Fitzgerald to Strong-Buy Rating

Cantor Fitzgerald upgraded shares of Sterling Infrastructure (NASDAQ:STRL) to a strong-buy rating in a research note released on Friday morning,Zacks.com reports.

Other research analysts have also recently issued research reports about the stock. Zacks Research cut shares of Sterling Infrastructure from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Wall Street Zen lowered shares of Sterling Infrastructure from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 26th. Weiss Ratings downgraded shares of Sterling Infrastructure from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, January 12th. Finally, DA Davidson raised their price objective on Sterling Infrastructure from $355.00 to $460.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Sterling Infrastructure has a consensus rating of “Moderate Buy” and a consensus price target of $436.50.

Sterling Infrastructure Stock Down 3.5%

NASDAQ:STRL opened at $351.39 on Friday. The stock has a 50-day simple moving average of $324.56 and a 200 day simple moving average of $318.25. Sterling Infrastructure has a 52-week low of $96.34 and a 52-week high of $419.14. The company has a market cap of $10.79 billion, a PE ratio of 34.45, a PEG ratio of 2.13 and a beta of 1.50. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.00 and a current ratio of 1.00.

Sterling Infrastructure (NASDAQ:STRL) last released its earnings results on Monday, November 3rd. The construction company reported $3.48 EPS for the quarter, beating the consensus estimate of $2.79 by $0.69. The firm had revenue of $689.02 million for the quarter, compared to analysts’ expectations of $618.80 million. Sterling Infrastructure had a return on equity of 29.81% and a net margin of 14.14%. On average, sell-side analysts expect that Sterling Infrastructure will post 5.98 EPS for the current fiscal year.

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

Insider Activity at Sterling Infrastructure

In other news, Director Dwayne Andree Wilson sold 2,860 shares of Sterling Infrastructure stock in a transaction dated 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 transaction, the director owned 14,749 shares of the company’s stock, valued at $5,162,150. This trade represents a 16.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 3.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Sterling Infrastructure

Hedge funds have recently bought and sold shares of the company. Twin Peaks Wealth Advisors LLC bought a new stake in Sterling Infrastructure in the second quarter valued at approximately $26,000. Root Financial Partners LLC acquired a new position in shares of Sterling Infrastructure during the 3rd quarter worth approximately $26,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Sterling Infrastructure during the 3rd quarter worth approximately $28,000. Fifth Third Bancorp raised its stake in Sterling Infrastructure by 76.1% in the 3rd quarter. Fifth Third Bancorp now owns 81 shares of the construction company’s stock valued at $28,000 after acquiring an additional 35 shares during the period. Finally, Ameritas Advisory Services LLC acquired a new stake in Sterling Infrastructure during the 2nd quarter valued at $29,000. 80.95% of the stock is currently owned by institutional investors and hedge funds.

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.