Sterling Infrastructure, Inc. Expected to Post FY2023 Earnings of $3.41 Per Share (NASDAQ:STRL)

Sterling Infrastructure, Inc. (NASDAQ:STRL – Get Rating) – Investment analysts at DA Davidson boosted their FY2023 earnings per share (EPS) estimates for Sterling Infrastructure in a report released on Thursday, March 2nd. DA Davidson analyst B. Thielman now anticipates that the construction company will post earnings per share of $3.41 for the year, up from their prior forecast of $3.28. The consensus estimate for Sterling Infrastructure’s current full-year earnings is $3.46 per share.

Separately, StockNews.com lowered Sterling Infrastructure from a “strong-buy” rating to a “buy” rating in a report on Monday, February 20th.

Sterling Infrastructure Price Performance

Sterling Infrastructure stock opened at $40.72 on Friday. Sterling Infrastructure has a one year low of $20.46 and a one year high of $41.31. The business has a fifty day moving average price of $35.14 and a 200-day moving average price of $30.14. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.34 and a quick ratio of 1.31. The firm has a market capitalization of $1.25 billion, a P/E ratio of 11.63, a PEG ratio of 0.64 and a beta of 1.37.

Institutional Investors Weigh In On Sterling Infrastructure

A number of large investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in Sterling Infrastructure by 1.1% during the first quarter. BlackRock Inc. now owns 2,306,021 shares of the construction company’s stock valued at $61,801,000 after purchasing an additional 25,473 shares in the last quarter. Vanguard Group Inc. raised its position in Sterling Infrastructure by 3.3% during the third quarter. Vanguard Group Inc. now owns 1,638,538 shares of the construction company’s stock valued at $35,180,000 after purchasing an additional 52,977 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Sterling Infrastructure by 6.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,503,497 shares of the construction company’s stock valued at $49,315,000 after purchasing an additional 93,790 shares in the last quarter. Segall Bryant & Hamill LLC raised its position in Sterling Infrastructure by 1.2% during the third quarter. Segall Bryant & Hamill LLC now owns 1,263,869 shares of the construction company’s stock valued at $27,142,000 after purchasing an additional 15,210 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of Sterling Infrastructure by 2.0% during the second quarter. Renaissance Technologies LLC now owns 998,372 shares of the construction company’s stock valued at $21,884,000 after buying an additional 19,100 shares during the last quarter. Hedge funds and other institutional investors own 77.74% of the company’s stock.

Insider Buying and Selling

In related news, General Counsel Mark D. Wolf sold 3,500 shares of the stock in a transaction on Wednesday, December 21st. The stock was sold at an average price of $31.82, for a total value of $111,370.00. Following the sale, the general counsel now owns 34,590 shares in the company, valued at $1,100,653.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Joseph A. Cutillo sold 5,002 shares of the stock in a transaction on Tuesday, February 28th. The stock was sold at an average price of $40.14, for a total value of $200,780.28. Following the sale, the chief executive officer now owns 763,106 shares in the company, valued at $30,631,074.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Mark D. Wolf sold 3,500 shares of the firm’s stock in a transaction dated Wednesday, December 21st. The shares were sold at an average price of $31.82, for a total value of $111,370.00. Following the sale, the general counsel now owns 34,590 shares in the company, valued at approximately $1,100,653.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 17,202 shares of company stock worth $602,656. Corporate insiders own 3.30% of the company’s stock.

About Sterling Infrastructure

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Sterling Infrastructure, Inc engages in the provision of construction solutions. It operates through the following segments: Transportation Solutions, E-Infrastructure Solutions, and Building Solutions. The Transportation Solutions segment includes infrastructure and rehabilitation projects for highways, roads, bridges, airports, ports, light rail, water, wastewater, and storm drainage systems.