DA Davidson Upgrades Sterling Infrastructure (NASDAQ:STRL) to “Buy”

Sterling Infrastructure (NASDAQ:STRL) was upgraded by equities researchers at DA Davidson from a “neutral” rating to a “buy” rating in a note issued to investors on Thursday,Finviz reports. The firm presently has a $185.00 price objective on the construction company’s stock. DA Davidson’s target price would indicate a potential upside of 51.44% from the company’s previous close.

A number of other research analysts have also issued reports on STRL. StockNews.com upgraded Sterling Infrastructure from a “hold” rating to a “buy” rating in a research report on Thursday, February 20th. William Blair initiated coverage on Sterling Infrastructure in a research report on Friday, January 17th. They set an “outperform” rating for the company.

Sterling Infrastructure Trading Up 5.4 %

NASDAQ:STRL opened at $122.16 on Thursday. Sterling Infrastructure has a 12-month low of $93.50 and a 12-month high of $206.07. The firm has a market capitalization of $3.75 billion, a P/E ratio of 20.64, a P/E/G ratio of 1.28 and a beta of 1.24. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.29 and a quick ratio of 1.29. The business has a 50 day simple moving average of $158.12 and a 200 day simple moving average of $155.09.

Insider Activity

In other news, Director Dana C. O’brien sold 2,000 shares of the business’s 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 sale, the director now directly owns 25,901 shares of the company’s stock, valued at $4,555,726.89. The trade was 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 available at this link. Insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of Sterling Infrastructure by 30.0% during the 4th quarter. Vanguard Group Inc. now owns 2,523,804 shares of the construction company’s stock worth $425,135,000 after acquiring an additional 581,847 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Sterling Infrastructure by 1,088.1% during the 3rd quarter. Principal Financial Group Inc. now owns 355,546 shares of the construction company’s stock worth $51,561,000 after acquiring an additional 325,620 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in shares of Sterling Infrastructure during the 4th quarter worth about $47,712,000. Capital Research Global Investors boosted its stake in shares of Sterling Infrastructure by 78.5% during the 4th quarter. Capital Research Global Investors now owns 574,976 shares of the construction company’s stock worth $96,855,000 after acquiring an additional 252,934 shares in the last quarter. Finally, First Trust Advisors LP boosted its stake in shares of Sterling Infrastructure by 74.1% during the 4th quarter. First Trust Advisors LP now owns 356,339 shares of the construction company’s stock worth $60,025,000 after acquiring an additional 151,642 shares in the last quarter. 80.95% of the stock is 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.