Sterling Infrastructure (NASDAQ:STRL) Cut to Hold at Zacks Research

Zacks Research cut shares of Sterling Infrastructure (NASDAQ:STRL) from a strong-buy rating to a hold rating in a research note released on Monday morning,Zacks.com reports.

STRL has been the topic of several other research reports. Wall Street Zen downgraded shares of Sterling Infrastructure from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 26th. Weiss Ratings restated a “buy (b-)” rating on shares of Sterling Infrastructure in a research note on Monday, December 29th. Finally, DA Davidson boosted their price target on Sterling Infrastructure from $355.00 to $460.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $460.00.

Sterling Infrastructure Stock Down 1.6%

Sterling Infrastructure stock opened at $312.24 on Monday. Sterling Infrastructure has a 1-year low of $96.34 and a 1-year high of $419.14. The business has a fifty day moving average price of $334.58 and a 200-day moving average price of $310.05. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.00 and a quick ratio of 1.00. The stock has a market capitalization of $9.59 billion, a price-to-earnings ratio of 30.61, a PEG ratio of 1.86 and a beta of 1.50.

Sterling Infrastructure (NASDAQ:STRL) last released its quarterly earnings results on Monday, June 3rd. The construction company reported $0.64 EPS for the quarter. Sterling Infrastructure had a return on equity of 29.81% and a net margin of 14.14%.The company had revenue of $403.58 million during the quarter. Equities research analysts forecast that Sterling Infrastructure will post 5.98 EPS for the current fiscal year.

Sterling Infrastructure declared that its board has authorized a share buyback plan on Wednesday, November 12th that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the construction company to buy up to 3.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

Institutional Trading of Sterling Infrastructure

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. IAM Advisory LLC purchased a new position in Sterling Infrastructure during the fourth quarter valued at approximately $776,000. Bay Rivers Group boosted its position in Sterling Infrastructure by 4.4% in the 4th quarter. Bay Rivers Group now owns 4,982 shares of the construction company’s stock worth $1,526,000 after purchasing an additional 210 shares in the last quarter. Park Avenue Securities LLC grew its stake in shares of Sterling Infrastructure by 42.7% during the 4th quarter. Park Avenue Securities LLC now owns 8,121 shares of the construction company’s stock worth $2,487,000 after purchasing an additional 2,430 shares during the period. GK Wealth Management LLC grew its stake in shares of Sterling Infrastructure by 3.9% during the 4th quarter. GK Wealth Management LLC now owns 1,367 shares of the construction company’s stock worth $419,000 after purchasing an additional 51 shares during the period. Finally, Allworth Financial LP increased its holdings in shares of Sterling Infrastructure by 1,307.9% during the 3rd quarter. Allworth Financial LP now owns 7,631 shares of the construction company’s stock valued at $2,592,000 after purchasing an additional 7,089 shares in the last quarter. 80.95% of the stock is 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.