Sterling Infrastructure (NASDAQ:STRL) Trading Down 5.3% – Time to Sell?

Sterling Infrastructure, Inc. (NASDAQ:STRL) fell 5.3% during mid-day trading on Tuesday . The stock traded as low as $304.46 and last traded at $309.75. 102,976 shares changed hands during mid-day trading, a decline of 70% from the average session volume of 339,764 shares. The stock had previously closed at $327.11.

Analyst Upgrades and Downgrades

Several analysts have recently commented on STRL shares. DA Davidson increased 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. Zacks Research raised Sterling Infrastructure from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 2nd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Sterling Infrastructure in a research note on Monday, December 29th. Finally, Wall Street Zen downgraded Sterling Infrastructure from a “strong-buy” rating to a “buy” rating in a report on Friday, September 26th. One equities research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $460.00.

Sterling Infrastructure Trading Down 3.1%

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 simple moving average of $337.66 and a 200 day simple moving average of $309.34. The company has a market cap of $9.73 billion, a price-to-earnings ratio of 31.13, a PEG ratio of 1.87 and a beta of 1.50.

Sterling Infrastructure (NASDAQ:STRL) last announced its quarterly earnings data on Monday, June 3rd. The construction company reported $0.64 earnings per share (EPS) for the quarter. Sterling Infrastructure had a return on equity of 29.81% and a net margin of 14.14%.The firm had revenue of $403.58 million during the quarter. As a group, equities research analysts predict that Sterling Infrastructure, Inc. will post 5.98 EPS for the current fiscal year.

Sterling Infrastructure announced that its Board of Directors has approved a stock repurchase plan on Wednesday, November 12th that allows the company to buyback $400.00 million in shares. This buyback authorization allows the construction company to purchase up to 3.4% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Millennium Management LLC boosted its holdings in Sterling Infrastructure by 743.9% in the first quarter. Millennium Management LLC now owns 493,393 shares of the construction company’s stock valued at $55,857,000 after purchasing an additional 434,925 shares during the last quarter. State Street Corp increased its holdings in shares of Sterling Infrastructure by 62.0% during the 2nd quarter. State Street Corp now owns 1,131,751 shares of the construction company’s stock valued at $261,129,000 after purchasing an additional 433,311 shares in the last quarter. Invesco Ltd. lifted its stake in shares of Sterling Infrastructure by 82.7% in the 2nd quarter. Invesco Ltd. now owns 735,910 shares of the construction company’s stock valued at $169,797,000 after purchasing an additional 333,013 shares during the period. American Century Companies Inc. boosted its stake in shares of Sterling Infrastructure by 84.6% during the 3rd quarter. American Century Companies Inc. now owns 654,096 shares of the construction company’s stock worth $222,184,000 after acquiring an additional 299,724 shares in the last quarter. Finally, First Trust Advisors LP raised its holdings in Sterling Infrastructure by 83.5% in the 3rd quarter. First Trust Advisors LP now owns 606,236 shares of the construction company’s stock worth $205,926,000 after purchasing an additional 275,830 shares during the period. Hedge funds and other institutional investors 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.