Sterling Infrastructure (NASDAQ:STRL) Stock Price Up 8.6%

Sterling Infrastructure, Inc. (NASDAQ:STRL)’s stock price was up 8.6% during mid-day trading on Thursday . The company traded as high as $147.01 and last traded at $146.50. Approximately 341,586 shares changed hands during trading, a decline of 3% from the average daily volume of 352,361 shares. The stock had previously closed at $134.94.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of Sterling Infrastructure from a “buy” rating to a “hold” rating in a report on Sunday.

Sterling Infrastructure Price Performance

The company has a market cap of $4.56 billion, a price-to-earnings ratio of 30.16, a P/E/G ratio of 1.38 and a beta of 1.16. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.44. The business has a 50-day moving average price of $115.16 and a 200 day moving average price of $114.03.

Sterling Infrastructure (NASDAQ:STRL) last released its quarterly earnings results on Monday, August 5th. The construction company reported $1.67 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.24. Sterling Infrastructure had a return on equity of 25.64% and a net margin of 7.85%. The business had revenue of $582.82 million during the quarter, compared to analyst estimates of $553.70 million. During the same quarter last year, the company posted $1.27 EPS. As a group, research analysts expect that Sterling Infrastructure, Inc. will post 5.66 earnings per share for the current fiscal year.

Institutional Trading of Sterling Infrastructure

Several large investors have recently added to or reduced their stakes in the company. Hantz Financial Services Inc. purchased a new position in shares of Sterling Infrastructure during the second quarter valued at $30,000. Nisa Investment Advisors LLC boosted its position in Sterling Infrastructure by 391.1% during the 2nd quarter. Nisa Investment Advisors LLC now owns 275 shares of the construction company’s stock worth $33,000 after acquiring an additional 219 shares during the period. Crewe Advisors LLC grew its stake in Sterling Infrastructure by 85.4% during the 2nd quarter. Crewe Advisors LLC now owns 293 shares of the construction company’s stock valued at $35,000 after acquiring an additional 135 shares in the last quarter. Family Firm Inc. acquired a new position in shares of Sterling Infrastructure in the 2nd quarter valued at about $38,000. Finally, Opal Wealth Advisors LLC purchased a new stake in shares of Sterling Infrastructure in the second quarter worth approximately $40,000. 80.95% of the stock is owned by institutional investors and hedge funds.

About Sterling Infrastructure

Sterling Infrastructure, Inc engages in the provision of e-infrastructure, transportation, and building solutions primarily in the United States. It operates through three segments: E-Infrastructure Solutions, Transportation Solutions, and Building Solutions. The E-Infrastructure Solutions segment provides site development services for the blue-chip end users in the e-commerce distribution center, data center, manufacturing, warehousing, and power generation sectors.