FY2024 Earnings Forecast for Sterling Infrastructure, Inc. (NASDAQ:STRL) Issued By DA Davidson

Sterling Infrastructure, Inc. (NASDAQ:STRL) – Equities research analysts at DA Davidson raised their FY2024 earnings per share estimates for shares of Sterling Infrastructure in a research note issued on Wednesday, May 8th. DA Davidson analyst B. Thielman now forecasts that the construction company will post earnings per share of $5.30 for the year, up from their prior forecast of $5.00. DA Davidson currently has a “Neutral” rating and a $115.00 target price on the stock. The consensus estimate for Sterling Infrastructure’s current full-year earnings is $4.98 per share. DA Davidson also issued estimates for Sterling Infrastructure’s FY2025 earnings at $5.70 EPS.

Sterling Infrastructure (NASDAQ:STRL) last announced its quarterly earnings data on Monday, February 26th. The construction company reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.30. Sterling Infrastructure had a return on equity of 24.75% and a net margin of 7.03%. The firm had revenue of $485.98 million for the quarter, compared to the consensus estimate of $526.90 million.

Sterling Infrastructure Stock Down 0.4 %

STRL stock opened at $125.16 on Friday. The firm’s 50 day moving average price is $107.31 and its 200-day moving average price is $87.13. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.25 and a current ratio of 1.25. The firm has a market cap of $3.87 billion, a PE ratio of 28.13, a PEG ratio of 1.02 and a beta of 1.21. Sterling Infrastructure has a one year low of $42.16 and a one year high of $128.58.

Insider Buying and Selling at Sterling Infrastructure

In related news, General Counsel Mark D. Wolf sold 4,134 shares of the business’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $106.22, for a total value of $439,113.48. Following the sale, the general counsel now owns 35,048 shares in the company, valued at approximately $3,722,798.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Sterling Infrastructure news, CEO Joseph A. Cutillo sold 20,000 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $109.78, for a total value of $2,195,600.00. Following the completion of the transaction, the chief executive officer now owns 448,133 shares in the company, valued at $49,196,040.74. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Mark D. Wolf sold 4,134 shares of the stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $106.22, for a total value of $439,113.48. Following the completion of the sale, the general counsel now owns 35,048 shares in the company, valued at $3,722,798.56. The disclosure for this sale can be found here. Insiders have sold a total of 198,172 shares of company stock valued at $22,019,320 over the last quarter. 3.80% of the stock is owned by company insiders.

Institutional Trading of Sterling Infrastructure

Several hedge funds have recently added to or reduced their stakes in the company. Lord Abbett & CO. LLC boosted its position in shares of Sterling Infrastructure by 347.4% during the 3rd quarter. Lord Abbett & CO. LLC now owns 616,017 shares of the construction company’s stock worth $45,265,000 after acquiring an additional 478,331 shares in the last quarter. Hennessy Advisors Inc. purchased a new position in Sterling Infrastructure in the fourth quarter valued at approximately $32,156,000. FMR LLC raised its holdings in Sterling Infrastructure by 45.0% during the third quarter. FMR LLC now owns 847,335 shares of the construction company’s stock worth $62,262,000 after purchasing an additional 263,046 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Sterling Infrastructure by 9.1% during the fourth quarter. Vanguard Group Inc. now owns 1,878,941 shares of the construction company’s stock worth $165,215,000 after purchasing an additional 156,225 shares during the last quarter. Finally, Lisanti Capital Growth LLC purchased a new stake in shares of Sterling Infrastructure in the 3rd quarter valued at about $10,167,000. Institutional investors and hedge funds own 80.95% of the company’s stock.

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.