Sterling Infrastructure (NASDAQ:STRL) Sees Strong Trading Volume – Here’s Why

Sterling Infrastructure, Inc. (NASDAQ:STRL) saw unusually-high trading volume on Wednesday . Approximately 683,559 shares traded hands during trading, an increase of 53% from the previous session’s volume of 447,491 shares.The stock last traded at $142.39 and had previously closed at $141.00.

Analyst Ratings Changes

Several research firms have weighed in on STRL. DA Davidson raised Sterling Infrastructure from a “neutral” rating to a “buy” rating and set a $185.00 price objective on the stock in a research report on Thursday, February 27th. William Blair began coverage on shares of Sterling Infrastructure in a research report on Friday, January 17th. They set an “outperform” rating for the company. Finally, StockNews.com lowered shares of Sterling Infrastructure from a “buy” rating to a “hold” rating in a research report on Wednesday, April 9th.

Sterling Infrastructure Trading Down 0.1 %

The firm has a market capitalization of $4.27 billion, a P/E ratio of 23.69, a price-to-earnings-growth ratio of 1.28 and a beta of 1.19. The firm has a fifty day simple moving average of $124.10 and a two-hundred day simple moving average of $154.50. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.29 and a quick ratio of 1.29.

Institutional Investors Weigh In On Sterling Infrastructure

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Sterling Infrastructure by 30.0% during the fourth quarter. Vanguard Group Inc. now owns 2,523,804 shares of the construction company’s stock worth $425,135,000 after purchasing an additional 581,847 shares during the period. Invesco Ltd. grew its stake in Sterling Infrastructure by 22.5% in the 4th quarter. Invesco Ltd. now owns 757,273 shares of the construction company’s stock valued at $127,563,000 after buying an additional 139,081 shares in the last quarter. Geode Capital Management LLC raised its holdings in Sterling Infrastructure by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 719,980 shares of the construction company’s stock valued at $104,431,000 after acquiring an additional 3,918 shares during the period. Allspring Global Investments Holdings LLC lifted its position in shares of Sterling Infrastructure by 7.9% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 666,909 shares of the construction company’s stock worth $111,873,000 after acquiring an additional 49,008 shares in the last quarter. Finally, Capital Research Global Investors boosted its holdings in shares of Sterling Infrastructure by 78.5% in the fourth quarter. Capital Research Global Investors now owns 574,976 shares of the construction company’s stock worth $96,855,000 after acquiring an additional 252,934 shares during the period. 80.95% of the stock is currently owned by institutional investors.

Sterling Infrastructure Company Profile

Sterling Infrastructure, Inc engages in the provision of e-infrastructure, transportation, and building solutions primarily in the United States. It operates through three segments: E-Infrastructure Solutions, Transportation Solutions, and Building Solutions. The E-Infrastructure Solutions segment provides site development services for the blue-chip end users in the e-commerce distribution center, data center, manufacturing, warehousing, and power generation sectors.