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 stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $395.00, for a total transaction of $790,000.00. Following the transaction, the director owned 13,498 shares of the company’s stock, valued at approximately $5,331,710. This represents a 12.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Sterling Infrastructure Trading Up 4.5%

NASDAQ STRL opened at $433.91 on Thursday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.26. The stock has a 50 day moving average of $338.40 and a 200-day moving average of $331.43. Sterling Infrastructure, Inc. has a 12 month low of $96.34 and a 12 month high of $441.28. The company has a market cap of $13.33 billion, a PE ratio of 42.54, a PEG ratio of 2.43 and a beta of 1.51.

Sterling Infrastructure announced that its Board of Directors has initiated a stock buyback program on Wednesday, November 12th that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the construction company to repurchase up to 3.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

STRL has been the topic of a number of recent research reports. Cantor Fitzgerald initiated coverage on shares of Sterling Infrastructure in a research report on Friday, January 23rd. They set an “overweight” rating and a $413.00 price target on the stock. Zacks Research lowered shares of Sterling Infrastructure from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. DA Davidson upped their price target 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. Stifel Nicolaus set a $486.00 target price on shares of Sterling Infrastructure in a report on Wednesday. Finally, Weiss Ratings raised Sterling Infrastructure from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, January 26th. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Sterling Infrastructure currently has an average rating of “Moderate Buy” and a consensus price target of $453.00.

Institutional Investors Weigh In On Sterling Infrastructure

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Empowered Funds LLC purchased a new stake in Sterling Infrastructure during the first quarter worth about $378,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Sterling Infrastructure by 12.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 83,983 shares of the construction company’s stock valued at $9,508,000 after acquiring an additional 9,625 shares during the period. Focus Partners Wealth boosted its position in Sterling Infrastructure by 13.7% during the first quarter. Focus Partners Wealth now owns 2,313 shares of the construction company’s stock worth $262,000 after purchasing an additional 279 shares during the period. Janney Montgomery Scott LLC lifted its stake in shares of Sterling Infrastructure by 3.8% during the 2nd quarter. Janney Montgomery Scott LLC now owns 3,593 shares of the construction company’s stock valued at $829,000 after buying an additional 133 shares in the last quarter. Finally, Ameritas Advisory Services LLC bought a new stake in Sterling Infrastructure during the 2nd quarter valued at $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.