Sterling Infrastructure (NASDAQ:STRL) Announces Earnings Results

Sterling Infrastructure (NASDAQ:STRL) announced its quarterly earnings data on Monday. The construction company reported $5.80 earnings per share for the quarter, beating analysts’ consensus estimates of $5.01 by $0.79, FiscalAI reports. The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $969.22 million. Sterling Infrastructure had a return on equity of 35.64% and a net margin of 12.02%.

Sterling Infrastructure Stock Performance

Shares of NASDAQ:STRL traded up $14.70 during trading on Monday, reaching $611.47. The stock had a trading volume of 1,160,008 shares, compared to its average volume of 634,540. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.23. The stock has a fifty day simple moving average of $765.43 and a two-hundred day simple moving average of $578.26. The firm has a market capitalization of $18.76 billion, a price-to-earnings ratio of 54.69, a P/E/G ratio of 2.18 and a beta of 1.83. Sterling Infrastructure has a 52 week low of $262.27 and a 52 week high of $1,005.68.

Analysts Set New Price Targets

Several research analysts have issued reports on STRL shares. Argus began coverage on shares of Sterling Infrastructure in a research report on Thursday, April 16th. They set a “buy” rating and a $510.00 price objective on the stock. Zacks Research raised Sterling Infrastructure from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 1st. Wall Street Zen cut Sterling Infrastructure from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 4th. Cantor Fitzgerald reissued an “overweight” rating on shares of Sterling Infrastructure in a report on Thursday, June 18th. Finally, Oppenheimer initiated coverage on Sterling Infrastructure in a research report on Thursday, May 28th. They issued an “outperform” rating and a $950.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $720.67.

Insider Activity at Sterling Infrastructure

In other Sterling Infrastructure news, General Counsel Mark D. Wolf sold 2,500 shares of the business’s stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $888.00, for a total value of $2,220,000.00. Following the sale, the general counsel owned 28,137 shares of the company’s stock, valued at $24,985,656. The trade was a 8.16% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Sterling Infrastructure

A number of institutional investors have recently modified their holdings of STRL. Mcguire Capital Advisors Inc. acquired a new position in shares of Sterling Infrastructure in the 4th quarter valued at $70,000. Mercer Global Advisors Inc. ADV grew its position in shares of Sterling Infrastructure by 21.3% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 2,251 shares of the construction company’s stock valued at $689,000 after purchasing an additional 396 shares during the period. Vident Advisory LLC increased its stake in Sterling Infrastructure by 15.7% during the 4th quarter. Vident Advisory LLC now owns 15,806 shares of the construction company’s stock worth $4,840,000 after purchasing an additional 2,150 shares in the last quarter. Delta Global Management LP acquired a new stake in Sterling Infrastructure during the 4th quarter worth approximately $2,438,000. Finally, EP Wealth Advisors LLC acquired a new stake in shares of Sterling Infrastructure during the fourth quarter worth $232,000. 80.95% of the stock is owned by institutional investors.

Sterling Infrastructure Company Profile

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.