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

Sterling Infrastructure, Inc. (NASDAQ:STRL) Director Dana O’brien sold 2,000 shares of Sterling Infrastructure stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $395.00, for a total transaction of $790,000.00. Following the completion of the sale, the director owned 13,498 shares of the company’s stock, valued at $5,331,710. This trade represents a 12.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Sterling Infrastructure Trading Down 0.7%

Sterling Infrastructure stock opened at $415.55 on Wednesday. Sterling Infrastructure, Inc. has a one year low of $96.34 and a one year high of $426.09. The company’s fifty day moving average price is $336.19 and its two-hundred day moving average price is $330.71. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.00 and a quick ratio of 1.00. The company has a market capitalization of $12.77 billion, a price-to-earnings ratio of 40.74, a PEG ratio of 2.45 and a beta of 1.51.

Sterling Infrastructure announced that its Board of Directors has initiated a share repurchase program on Wednesday, November 12th that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the construction company to reacquire up to 3.4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Institutional Investors Weigh In On Sterling Infrastructure

Several institutional investors and hedge funds have recently bought and sold shares of the business. Cibc World Market Inc. increased its stake in Sterling Infrastructure by 10.8% in the fourth quarter. Cibc World Market Inc. now owns 50,157 shares of the construction company’s stock valued at $15,360,000 after acquiring an additional 4,896 shares during the period. Lido Advisors LLC raised its holdings in shares of Sterling Infrastructure by 1.8% in the 4th quarter. Lido Advisors LLC now owns 1,725 shares of the construction company’s stock worth $578,000 after buying an additional 31 shares in the last quarter. 1492 Capital Management LLC boosted its stake in Sterling Infrastructure by 1.7% in the 4th quarter. 1492 Capital Management LLC now owns 12,985 shares of the construction company’s stock valued at $3,976,000 after buying an additional 223 shares in the last quarter. CIBC Asset Management Inc grew its position in Sterling Infrastructure by 18.9% in the fourth quarter. CIBC Asset Management Inc now owns 1,155 shares of the construction company’s stock valued at $354,000 after acquiring an additional 184 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in Sterling Infrastructure by 4.9% during the fourth quarter. Bank of New York Mellon Corp now owns 188,201 shares of the construction company’s stock worth $57,633,000 after acquiring an additional 8,874 shares in the last quarter. Institutional investors own 80.95% of the company’s stock.

Analyst Upgrades and Downgrades

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