Sterling Infrastructure, Inc. (NASDAQ:STRL – Get Free Report) hit a new 52-week high during trading on Wednesday . The stock traded as high as $139.27 and last traded at $138.07, with a volume of 314452 shares traded. The stock had previously closed at $130.35.
Analyst Ratings Changes
Separately, StockNews.com cut shares of Sterling Infrastructure from a “buy” rating to a “hold” rating in a research report on Sunday.
View Our Latest Research Report on Sterling Infrastructure
Sterling Infrastructure Trading Up 3.9 %
Sterling Infrastructure (NASDAQ:STRL – Get Free Report) last issued its quarterly earnings results on Monday, August 5th. The construction company reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.24. Sterling Infrastructure had a return on equity of 25.64% and a net margin of 7.85%. The firm had revenue of $582.82 million during the quarter, compared to the consensus estimate of $553.70 million. During the same period last year, the company earned $1.27 earnings per share. On average, sell-side analysts forecast that Sterling Infrastructure, Inc. will post 5.66 EPS for the current fiscal year.
Hedge Funds Weigh In On Sterling Infrastructure
Several hedge funds and other institutional investors have recently added to or reduced their stakes in STRL. Hantz Financial Services Inc. purchased a new position in shares of Sterling Infrastructure in the second quarter worth $30,000. Nisa Investment Advisors LLC lifted its stake in Sterling Infrastructure by 391.1% during the 2nd quarter. Nisa Investment Advisors LLC now owns 275 shares of the construction company’s stock valued at $33,000 after acquiring an additional 219 shares during the period. Crewe Advisors LLC grew its stake in shares of Sterling Infrastructure by 85.4% in the second quarter. Crewe Advisors LLC now owns 293 shares of the construction company’s stock worth $35,000 after acquiring an additional 135 shares during the period. Family Firm Inc. purchased a new position in shares of Sterling Infrastructure during the second quarter valued at approximately $38,000. Finally, Opal Wealth Advisors LLC bought a new position in Sterling Infrastructure during the second quarter valued at approximately $40,000. 80.95% of the stock is owned by institutional investors.
Sterling Infrastructure Company Profile
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.
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