Sterling Infrastructure, Inc. (NASDAQ:STRL) Receives $453.00 Average Target Price from Analysts

Sterling Infrastructure, Inc. (NASDAQ:STRL) has earned a consensus rating of “Moderate Buy” from the five brokerages that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $453.00.

Several research firms have weighed in on STRL. Zacks Research cut shares of Sterling Infrastructure from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. Stifel Nicolaus set a $486.00 price objective on Sterling Infrastructure and gave the company a “buy” rating in a report on Wednesday. Cantor Fitzgerald began coverage on Sterling Infrastructure in a report on Friday, January 23rd. They set an “overweight” rating and a $413.00 target price for the company. DA Davidson lifted their price objective on shares of Sterling Infrastructure from $355.00 to $460.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. Finally, Weiss Ratings upgraded Sterling Infrastructure from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, January 26th.

Sterling Infrastructure Stock Performance

Shares of STRL opened at $437.77 on Thursday. The company has a market capitalization of $13.45 billion, a PE ratio of 42.92, a PEG ratio of 2.56 and a beta of 1.51. The company’s 50 day moving average price is $342.63 and its 200 day moving average price is $333.82. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.00 and a current ratio of 1.00. Sterling Infrastructure has a 52 week low of $96.34 and a 52 week high of $470.00.

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

Insider Transactions at Sterling Infrastructure

In related news, Director Dana C. O’brien sold 2,000 shares of the stock in a transaction on Monday, February 9th. The stock was sold at an average price of $410.00, for a total value of $820,000.00. Following the sale, the director owned 11,498 shares in the company, valued at approximately $4,714,180. This represents a 14.82% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Dwayne Andree Wilson sold 2,860 shares of Sterling Infrastructure stock in a transaction 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 transaction, the director directly 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 SEC filing for this sale provides additional information. Insiders have sold 6,860 shares of company stock valued at $2,611,000 in the last quarter. 3.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Sterling Infrastructure

Several large investors have recently modified their holdings of STRL. Empowered Funds LLC acquired a new position in Sterling Infrastructure in the 1st quarter valued at about $378,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Sterling Infrastructure by 12.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 83,983 shares of the construction company’s stock worth $9,508,000 after acquiring an additional 9,625 shares during the period. Focus Partners Wealth grew its position in shares of Sterling Infrastructure by 13.7% in the first quarter. Focus Partners Wealth now owns 2,313 shares of the construction company’s stock valued at $262,000 after purchasing an additional 279 shares during the last quarter. Janney Montgomery Scott LLC grew its position in shares of Sterling Infrastructure by 3.8% in the second quarter. Janney Montgomery Scott LLC now owns 3,593 shares of the construction company’s stock valued at $829,000 after purchasing an additional 133 shares during the last quarter. Finally, Ameritas Advisory Services LLC bought a new position in shares of Sterling Infrastructure during the second quarter worth approximately $29,000. 80.95% of the stock is owned by institutional investors.

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.