Sterling Infrastructure (NASDAQ:STRL) Director Dwayne Andree Wilson Sells 2,860 Shares of Stock

Sterling Infrastructure, Inc. (NASDAQ:STRL) Director Dwayne Andree Wilson sold 2,860 shares of the business’s stock in a transaction that occurred on Friday, January 16th. The stock was sold at an average price of $350.00, for a total transaction 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. The trade was a 16.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Sterling Infrastructure Stock Performance

Shares of Sterling Infrastructure stock traded down $1.37 during trading on Tuesday, hitting $349.59. 601,917 shares of the company’s stock traded hands, compared to its average volume of 491,422. Sterling Infrastructure, Inc. has a 1 year low of $96.34 and a 1 year high of $419.14. The business has a 50-day simple moving average of $324.55 and a 200-day simple moving average of $316.01. The stock has a market capitalization of $10.74 billion, a P/E ratio of 34.27, a PEG ratio of 2.06 and a beta of 1.50. 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 earnings results on Monday, November 3rd. The construction company reported $3.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.79 by $0.69. Sterling Infrastructure had a net margin of 14.14% and a return on equity of 29.81%. The business had revenue of $689.02 million for the quarter, compared to analysts’ expectations of $618.80 million. As a group, analysts forecast that Sterling Infrastructure, Inc. will post 5.98 EPS for the current year.

Sterling Infrastructure announced that its Board of Directors has initiated a stock buyback program on Wednesday, November 12th that authorizes the company to repurchase $400.00 million in outstanding shares. This repurchase authorization authorizes the construction company to buy up to 3.4% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on STRL. Weiss Ratings downgraded Sterling Infrastructure from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, January 12th. Wall Street Zen cut Sterling Infrastructure from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 26th. Zacks Research lowered shares of Sterling Infrastructure from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. Finally, DA Davidson increased their price objective on shares of Sterling Infrastructure from $355.00 to $460.00 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $460.00.

Institutional Inflows and Outflows

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