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

Sterling Infrastructure, Inc. (NASDAQ:STRL) Director Dana O’brien sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $410.00, for a total transaction of $820,000.00. Following the completion of the sale, the director directly owned 11,498 shares in the company, valued at $4,714,180. This represents a 14.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Sterling Infrastructure Stock Performance

Sterling Infrastructure stock opened at $415.55 on Wednesday. Sterling Infrastructure, Inc. has a fifty-two week low of $96.34 and a fifty-two week high of $426.09. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a market cap of $12.77 billion, a P/E ratio of 40.74, a price-to-earnings-growth ratio of 2.45 and a beta of 1.51. The firm’s fifty day moving average price is $336.19 and its 200-day moving average price is $330.71.

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

Institutional Trading of Sterling Infrastructure

Hedge funds have recently made changes to their positions in the stock. Twin Peaks Wealth Advisors LLC bought a new stake in Sterling Infrastructure in the second quarter worth $26,000. Root Financial Partners LLC purchased a new position in Sterling Infrastructure in the 3rd quarter worth approximately $26,000. Wilmington Savings Fund Society FSB purchased a new stake in Sterling Infrastructure during the 3rd quarter valued at $28,000. Fifth Third Bancorp increased its holdings 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 purchasing an additional 35 shares in the last quarter. Finally, Ameritas Advisory Services LLC bought a new position in shares of Sterling Infrastructure during the second quarter valued at $29,000. 80.95% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. DA Davidson increased their price objective on Sterling Infrastructure from $355.00 to $460.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. Weiss Ratings upgraded shares of Sterling Infrastructure from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, January 26th. Cantor Fitzgerald started coverage on Sterling Infrastructure in a report on Friday, January 23rd. They set an “overweight” rating and a $413.00 price target on the stock. Finally, Zacks Research lowered Sterling Infrastructure from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $436.50.

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.