Sterling Infrastructure (NASDAQ:STRL) Trading Down 5.4% – Time to Sell?

Sterling Infrastructure, Inc. (NASDAQ:STRL)’s share price was down 5.4% during trading on Tuesday . The company traded as low as $193.20 and last traded at $191.90. Approximately 84,692 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 500,767 shares. The stock had previously closed at $202.91.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on STRL. DA Davidson upgraded shares of Sterling Infrastructure from a “neutral” rating to a “buy” rating and set a $185.00 price objective on the stock in a research note on Thursday, February 27th. Wall Street Zen upgraded Sterling Infrastructure from a “hold” rating to a “buy” rating in a research report on Thursday, May 22nd.

Sterling Infrastructure Stock Performance

The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.41. The stock has a market cap of $5.95 billion, a price-to-earnings ratio of 32.96, a price-to-earnings-growth ratio of 1.28 and a beta of 1.37. The stock’s 50-day simple moving average is $162.26 and its 200-day simple moving average is $156.71.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Kestra Private Wealth Services LLC acquired a new position in Sterling Infrastructure during the 4th quarter worth approximately $614,000. Peterson Wealth Services acquired a new position in shares of Sterling Infrastructure during the fourth quarter worth $834,000. Allspring Global Investments Holdings LLC increased its holdings in Sterling Infrastructure by 7.9% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 666,909 shares of the construction company’s stock valued at $111,873,000 after purchasing an additional 49,008 shares during the period. Legato Capital Management LLC increased its holdings in Sterling Infrastructure by 4.0% in the fourth quarter. Legato Capital Management LLC now owns 23,707 shares of the construction company’s stock valued at $3,993,000 after purchasing an additional 922 shares during the period. Finally, Van ECK Associates Corp raised its position in Sterling Infrastructure by 36.7% during the 4th quarter. Van ECK Associates Corp now owns 26,512 shares of the construction company’s stock worth $4,466,000 after purchasing an additional 7,111 shares during the last quarter. 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.