Sterling Infrastructure (NASDAQ:STRL) Share Price Crosses Above 200 Day Moving Average – What’s Next?

Shares of Sterling Infrastructure, Inc. (NASDAQ:STRL) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $144.38 and traded as high as $172.37. Sterling Infrastructure shares last traded at $167.73, with a volume of 251,720 shares trading hands.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of Sterling Infrastructure from a “buy” rating to a “hold” rating in a research note on Sunday, September 15th.

Sterling Infrastructure Stock Performance

The stock has a market capitalization of $5.15 billion, a P/E ratio of 28.33, a P/E/G ratio of 2.02 and a beta of 1.22. The stock has a 50 day simple moving average of $179.44 and a two-hundred day simple moving average of $144.38. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.41.

Sterling Infrastructure (NASDAQ:STRL) last issued its earnings results on Wednesday, November 6th. The construction company reported $1.97 earnings per share for the quarter, topping analysts’ consensus estimates of $1.68 by $0.29. Sterling Infrastructure had a net margin of 8.77% and a return on equity of 27.52%. The business had revenue of $593.74 million for the quarter, compared to the consensus estimate of $599.90 million. During the same period in the previous year, the company earned $1.26 earnings per share. On average, equities analysts forecast that Sterling Infrastructure, Inc. will post 5.96 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Dana C. O’brien sold 2,000 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $175.89, for a total transaction of $351,780.00. Following the transaction, the director now owns 25,901 shares in the company, valued at approximately $4,555,726.89. This trade represents a 7.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On Sterling Infrastructure

Institutional investors have recently modified their holdings of the business. State Street Corp raised its stake in Sterling Infrastructure by 0.7% in the 3rd quarter. State Street Corp now owns 713,234 shares of the construction company’s stock worth $103,433,000 after purchasing an additional 5,106 shares in the last quarter. Robeco Schweiz AG bought a new position in shares of Sterling Infrastructure during the second quarter worth approximately $1,420,000. Principal Financial Group Inc. raised its position in shares of Sterling Infrastructure by 1,088.1% in the third quarter. Principal Financial Group Inc. now owns 355,546 shares of the construction company’s stock valued at $51,561,000 after buying an additional 325,620 shares in the last quarter. Algert Global LLC boosted its stake in shares of Sterling Infrastructure by 34.0% in the third quarter. Algert Global LLC now owns 26,141 shares of the construction company’s stock valued at $3,791,000 after buying an additional 6,630 shares during the period. Finally, Stifel Financial Corp grew its position in Sterling Infrastructure by 22.9% during the third quarter. Stifel Financial Corp now owns 23,418 shares of the construction company’s stock worth $3,396,000 after buying an additional 4,359 shares in the last quarter. Institutional investors 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.