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

Sterling Infrastructure, Inc. (NASDAQ:STRL) Director Dwayne Andree Wilson sold 2,860 shares of the 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 sale, the director directly owned 14,749 shares of the company’s stock, valued at $5,162,150. This represents a 16.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Sterling Infrastructure Price Performance

Shares of NASDAQ:STRL opened at $349.59 on Wednesday. The company has a market capitalization of $10.74 billion, a P/E ratio of 34.27, a P/E/G ratio of 2.06 and a beta of 1.50. Sterling Infrastructure, Inc. has a 1-year low of $96.34 and a 1-year high of $419.14. The firm’s 50 day simple moving average is $323.91 and its two-hundred day simple moving average is $316.81. 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 announced its quarterly earnings data on Monday, November 3rd. The construction company reported $3.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.79 by $0.69. Sterling Infrastructure had a net margin of 14.14% and a return on equity of 29.81%. The firm had revenue of $689.02 million during the quarter, compared to analysts’ expectations of $618.80 million. Research analysts expect that Sterling Infrastructure, Inc. will post 5.98 EPS for the current fiscal year.

Sterling Infrastructure announced that its board has approved a share buyback plan on Wednesday, November 12th that allows the company to buyback $400.00 million in outstanding shares. This buyback authorization allows the construction company to purchase up to 3.4% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Twin Peaks Wealth Advisors LLC bought a new stake in Sterling Infrastructure in the second quarter worth $26,000. Root Financial Partners LLC purchased a new position in shares of Sterling Infrastructure in the 3rd quarter worth $26,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Sterling Infrastructure in the 3rd quarter worth about $28,000. Fifth Third Bancorp raised its position in shares of Sterling Infrastructure by 76.1% during the 3rd quarter. Fifth Third Bancorp now owns 81 shares of the construction company’s stock valued at $28,000 after buying an additional 35 shares in the last quarter. Finally, Ameritas Advisory Services LLC bought a new position in shares of Sterling Infrastructure in the 2nd quarter valued at about $29,000. 80.95% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Weiss Ratings cut Sterling Infrastructure from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, January 12th. Zacks Research downgraded Sterling Infrastructure from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. Wall Street Zen cut shares of Sterling Infrastructure from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 26th. Finally, DA Davidson boosted their target price on shares of Sterling Infrastructure from $355.00 to $460.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $460.00.

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.