Dana O’brien Sells 2,000 Shares of Sterling Infrastructure (NASDAQ:STRL) Stock

Sterling Infrastructure, Inc. (NASDAQ:STRL) Director Dana O’brien sold 2,000 shares of the company’s stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $410.00, for a total value of $820,000.00. Following the completion of the sale, the director owned 11,498 shares of the company’s stock, valued at $4,714,180. This represents a 14.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Sterling Infrastructure Price Performance

Shares of STRL opened at $433.91 on Thursday. The stock has a market cap of $13.33 billion, a P/E ratio of 42.54, a price-to-earnings-growth ratio of 2.43 and a beta of 1.51. Sterling Infrastructure, Inc. has a 1 year low of $96.34 and a 1 year high of $441.28. The stock’s 50-day moving average price is $338.40 and its two-hundred day moving average price is $331.43. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.26.

Sterling Infrastructure announced that its board has authorized a stock buyback program on Wednesday, November 12th that permits the company to repurchase $400.00 million in outstanding shares. This repurchase authorization permits the construction company to repurchase up to 3.4% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

STRL has been the topic of several research analyst reports. Zacks Research downgraded Sterling Infrastructure from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. DA Davidson lifted their price objective on Sterling Infrastructure from $355.00 to $460.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. Cantor Fitzgerald began coverage on Sterling Infrastructure in a research report on Friday, January 23rd. They issued an “overweight” rating and a $413.00 price objective for the company. Weiss Ratings upgraded shares of Sterling Infrastructure from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, January 26th. Finally, Stifel Nicolaus set a $486.00 price objective on shares of Sterling Infrastructure in a research report on Wednesday. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Sterling Infrastructure has an average rating of “Moderate Buy” and an average target price of $453.00.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Legacy Capital Wealth Management LLC bought a new stake in Sterling Infrastructure during the 4th quarter worth about $3,306,000. Empowered Funds LLC boosted its position in Sterling Infrastructure by 27.1% during the fourth quarter. Empowered Funds LLC now owns 3,401 shares of the construction company’s stock valued at $1,041,000 after purchasing an additional 725 shares during the last quarter. Renaissance Group LLC grew its stake in Sterling Infrastructure by 0.7% in the fourth quarter. Renaissance Group LLC now owns 31,031 shares of the construction company’s stock valued at $9,503,000 after purchasing an additional 201 shares in the last quarter. Gilpin Wealth Management LLC acquired a new position in shares of Sterling Infrastructure during the 4th quarter worth approximately $217,000. Finally, Ameritas Investment Partners Inc. raised its stake in shares of Sterling Infrastructure by 221.3% during the 4th quarter. Ameritas Investment Partners Inc. now owns 8,094 shares of the construction company’s stock worth $2,479,000 after purchasing an additional 5,575 shares in the last quarter. Institutional investors and hedge funds own 80.95% of the company’s stock.

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.