Insider Selling: Sterling Infrastructure (NASDAQ:STRL) Director Sells 2,000 Shares of Stock

Sterling Infrastructure, Inc. (NASDAQ:STRL) Director Dana O’brien sold 2,000 shares of the company’s stock in a transaction on Friday, February 6th. The shares were sold at an average price of $395.00, for a total transaction of $790,000.00. Following the completion of the sale, the director owned 13,498 shares of the company’s stock, valued at approximately $5,331,710. This trade represents a 12.90% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Sterling Infrastructure Stock Performance

Sterling Infrastructure stock traded down $3.06 during midday trading on Tuesday, hitting $415.55. 456,477 shares of the company’s stock were exchanged, compared to its average volume of 416,128. 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 cap of $12.77 billion, a price-to-earnings ratio of 40.74, a price-to-earnings-growth ratio of 2.45 and a beta of 1.51. Sterling Infrastructure, Inc. has a 12-month low of $96.34 and a 12-month high of $426.09. The firm’s 50 day simple moving average is $336.19 and its 200 day simple moving average is $330.71.

Sterling Infrastructure declared that its board has initiated a share buyback program on Wednesday, November 12th that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the construction company to buy up to 3.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

A number of research firms have weighed in on STRL. DA Davidson increased their price objective on Sterling Infrastructure from $355.00 to $460.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Zacks Research downgraded Sterling Infrastructure from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Weiss Ratings raised shares of Sterling Infrastructure from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, January 26th. Finally, Cantor Fitzgerald began coverage on shares of Sterling Infrastructure in a research report on Friday, January 23rd. They set an “overweight” rating and a $413.00 price objective for the company. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $436.50.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. State Street Corp lifted its holdings in Sterling Infrastructure by 62.0% in the second quarter. State Street Corp now owns 1,131,751 shares of the construction company’s stock valued at $261,129,000 after acquiring an additional 433,311 shares during the period. Invesco Ltd. boosted its position in shares of Sterling Infrastructure by 82.7% during the 2nd quarter. Invesco Ltd. now owns 735,910 shares of the construction company’s stock worth $169,797,000 after purchasing an additional 333,013 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Sterling Infrastructure by 84.6% during the 3rd quarter. American Century Companies Inc. now owns 654,096 shares of the construction company’s stock worth $222,184,000 after purchasing an additional 299,724 shares during the period. First Trust Advisors LP lifted its stake in shares of Sterling Infrastructure by 83.5% in the third quarter. First Trust Advisors LP now owns 606,236 shares of the construction company’s stock valued at $205,926,000 after purchasing an additional 275,830 shares during the period. Finally, Capital Research Global Investors boosted its holdings in Sterling Infrastructure by 104.1% during the third quarter. Capital Research Global Investors now owns 364,830 shares of the construction company’s stock worth $123,925,000 after buying an additional 186,122 shares in the last quarter. Institutional investors and hedge funds own 80.95% of the company’s stock.

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.