Sterling Infrastructure (NASDAQ:STRL) Given New $355.00 Price Target at DA Davidson

Sterling Infrastructure (NASDAQ:STRL) had its price objective raised by DA Davidson from $265.00 to $355.00 in a report published on Wednesday morning,Benzinga reports. DA Davidson currently has a buy rating on the construction company’s stock.

Separately, Wall Street Zen downgraded shares of Sterling Infrastructure from a “buy” rating to a “hold” rating in a report on Saturday, July 5th.

Sterling Infrastructure Stock Up 1.0%

Shares of NASDAQ STRL opened at $299.42 on Wednesday. The company has a 50 day simple moving average of $232.17 and a 200-day simple moving average of $174.26. The company has a market capitalization of $9.11 billion, a P/E ratio of 32.55, a P/E/G ratio of 2.45 and a beta of 1.46. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.42 and a quick ratio of 1.32. Sterling Infrastructure has a 1 year low of $96.34 and a 1 year high of $321.79.

Insider Buying and Selling

In other news, General Counsel Mark D. Wolf sold 3,500 shares of the business’s stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $225.87, for a total value of $790,545.00. Following the sale, the general counsel directly owned 29,315 shares of the company’s stock, valued at approximately $6,621,379.05. The trade was a 10.67% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Dana C. O’brien sold 10,154 shares of the business’s stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $206.58, for a total transaction of $2,097,613.32. Following the completion of the sale, the director directly owned 16,498 shares in the company, valued at $3,408,156.84. This trade represents a 38.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Sterling Infrastructure

A number of hedge funds have recently added to or reduced their stakes in STRL. Sunbelt Securities Inc. lifted its holdings in Sterling Infrastructure by 689.7% during the 1st quarter. Sunbelt Securities Inc. now owns 229 shares of the construction company’s stock worth $26,000 after buying an additional 200 shares in the last quarter. Versant Capital Management Inc lifted its holdings in Sterling Infrastructure by 355.8% during the 1st quarter. Versant Capital Management Inc now owns 237 shares of the construction company’s stock worth $27,000 after buying an additional 185 shares in the last quarter. Opal Wealth Advisors LLC acquired a new stake in Sterling Infrastructure during the 1st quarter worth approximately $28,000. Ameritas Advisory Services LLC acquired a new stake in Sterling Infrastructure during the 2nd quarter worth approximately $29,000. Finally, Bessemer Group Inc. lifted its holdings in Sterling Infrastructure by 119.3% during the 2nd quarter. Bessemer Group Inc. now owns 125 shares of the construction company’s stock worth $29,000 after buying an additional 68 shares in the last quarter. 80.95% of the stock is currently owned by institutional investors and hedge funds.

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.