Cantor Fitzgerald Initiates Coverage on Sterling Infrastructure (NASDAQ:STRL)

Research analysts at Cantor Fitzgerald assumed coverage on shares of Sterling Infrastructure (NASDAQ:STRL) in a report issued on Friday, MarketBeat Ratings reports. The brokerage set an “overweight” rating and a $413.00 price target on the construction company’s stock. Cantor Fitzgerald’s target price would indicate a potential upside of 17.53% from the company’s current price.

STRL has been the topic of a number of other reports. DA Davidson increased 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. Zacks Research downgraded Sterling Infrastructure from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Weiss Ratings downgraded shares of Sterling Infrastructure from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, January 12th. Finally, Wall Street Zen cut shares of Sterling Infrastructure from a “strong-buy” rating to a “buy” rating in a report on Friday, September 26th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $436.50.

Sterling Infrastructure Trading Down 3.5%

STRL opened at $351.39 on Friday. The firm has a market capitalization of $10.79 billion, a price-to-earnings ratio of 34.45, a price-to-earnings-growth ratio of 2.06 and a beta of 1.50. The company’s 50 day simple moving average is $324.56 and its two-hundred day simple moving average is $318.89. Sterling Infrastructure has a 1-year low of $96.34 and a 1-year high of $419.14. 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 posted its earnings results on Monday, November 3rd. The construction company reported $3.48 earnings per share for the quarter, beating the consensus estimate of $2.79 by $0.69. The company had revenue of $689.02 million for the quarter, compared to analyst estimates of $618.80 million. Sterling Infrastructure had a net margin of 14.14% and a return on equity of 29.81%. Analysts expect that Sterling Infrastructure will post 5.98 EPS for the current fiscal year.

Sterling Infrastructure declared that its Board of Directors has initiated a share buyback plan on Wednesday, November 12th that allows the company to repurchase $400.00 million in shares. This repurchase authorization allows the construction company to repurchase up to 3.4% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other Sterling Infrastructure news, Director Dwayne Andree Wilson sold 2,860 shares of the firm’s stock in a transaction dated 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 transaction, the director owned 14,749 shares of the company’s stock, valued at approximately $5,162,150. This trade represents a 16.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On Sterling Infrastructure

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

Sterling Infrastructure Company Profile

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.