William Blair Initiates Coverage on Sterling Infrastructure (NASDAQ:STRL)

William Blair initiated coverage on shares of Sterling Infrastructure (NASDAQ:STRL) in a report published on Friday, MarketBeat reports. The firm issued an outperform rating on the construction company’s stock.

Sterling Infrastructure Stock Performance

Shares of NASDAQ STRL opened at $182.51 on Friday. Sterling Infrastructure has a 12-month low of $69.61 and a 12-month high of $203.49. The company has a market cap of $5.61 billion, a PE ratio of 30.83, a P/E/G ratio of 1.69 and a beta of 1.26. The stock has a 50 day simple moving average of $181.83 and a 200-day simple moving average of $148.94. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.41.

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

Insider Buying and Selling at Sterling Infrastructure

In other Sterling Infrastructure news, Director Dana C. O’brien sold 2,000 shares of the stock in a transaction 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 completion of the transaction, the director now directly owns 25,901 shares of the company’s stock, valued at approximately $4,555,726.89. This trade represents a 7.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.70% of the stock is owned by corporate insiders.

Institutional Trading of Sterling Infrastructure

Several institutional investors have recently modified their holdings of STRL. Quarry LP grew its holdings in Sterling Infrastructure by 510.7% during the third quarter. Quarry LP now owns 171 shares of the construction company’s stock worth $25,000 after acquiring an additional 143 shares during the period. Capital Performance Advisors LLP acquired a new stake in Sterling Infrastructure in the 3rd quarter valued at about $26,000. Huntington National Bank boosted its position in shares of Sterling Infrastructure by 21,300.0% during the 3rd quarter. Huntington National Bank now owns 214 shares of the construction company’s stock valued at $31,000 after purchasing an additional 213 shares in the last quarter. Signaturefd LLC grew its stake in shares of Sterling Infrastructure by 119.3% in the 3rd quarter. Signaturefd LLC now owns 296 shares of the construction company’s stock worth $43,000 after purchasing an additional 161 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Sterling Infrastructure in the 3rd quarter worth approximately $44,000. 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.