Key Points
- Director Dwayne Andree Wilson sold 2,860 shares on January 16 at an average price of $350 for a total of $1,001,000, cutting his stake by 16.24% to 14,749 shares valued at about $5.16 million.
- Sterling Infrastructure's board approved a $400 million share repurchase plan (up to 3.4% of outstanding shares), and the company recently beat quarterly expectations with $3.48 EPS vs. $2.79 expected and $689.02 million in revenue, while analysts hold a consensus "Hold" rating with a $460 price target.
Sterling Infrastructure, Inc. (NASDAQ:STRL - Get Free Report) Director Dwayne Andree Wilson sold 2,860 shares of the firm's stock in a transaction that occurred on Friday, January 16th. The shares were sold at an average price of $350.00, for a total value of $1,001,000.00. Following the completion of the sale, the director directly owned 14,749 shares of the company's stock, valued at $5,162,150. The trade was a 16.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Sterling Infrastructure Stock Performance
NASDAQ STRL opened at $349.59 on Wednesday. The business's 50 day moving average price is $323.91 and its 200-day moving average price is $316.81. Sterling Infrastructure, Inc. has a fifty-two week low of $96.34 and a fifty-two week high of $419.14. The company has a market cap of $10.74 billion, a P/E ratio of 34.27, a P/E/G ratio of 2.06 and a beta of 1.50. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.00 and a current ratio of 1.00.
Sterling Infrastructure (NASDAQ:STRL - Get Free Report) last posted its quarterly earnings data on Monday, November 3rd. The construction company reported $3.48 EPS for the quarter, topping the consensus estimate of $2.79 by $0.69. Sterling Infrastructure had a net margin of 14.14% and a return on equity of 29.81%. The company had revenue of $689.02 million during the quarter, compared to analyst estimates of $618.80 million. Sell-side analysts predict that Sterling Infrastructure, Inc. will post 5.98 earnings per share for the current year.
Sterling Infrastructure declared that its Board of Directors has approved a stock repurchase plan on Wednesday, November 12th that permits the company to buyback $400.00 million in outstanding shares. This buyback authorization permits the construction company to purchase up to 3.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's management believes its stock is undervalued.
Institutional Investors Weigh In On Sterling Infrastructure
Several hedge funds have recently made changes to their positions in the company. UMB Bank n.a. boosted its holdings in Sterling Infrastructure by 27.5% in the third quarter. UMB Bank n.a. now owns 130 shares of the construction company's stock valued at $44,000 after purchasing an additional 28 shares during the period. Fifth Third Bancorp raised its position in Sterling Infrastructure by 76.1% in the 3rd quarter. Fifth Third Bancorp now owns 81 shares of the construction company's stock valued at $28,000 after purchasing an additional 35 shares in the last quarter. Hantz Financial Services Inc. boosted its stake in shares of Sterling Infrastructure by 16.1% in the 2nd quarter. Hantz Financial Services Inc. now owns 295 shares of the construction company's stock valued at $68,000 after buying an additional 41 shares during the period. Richardson Financial Services Inc. grew its position in shares of Sterling Infrastructure by 22.6% during the third quarter. Richardson Financial Services Inc. now owns 233 shares of the construction company's stock worth $79,000 after buying an additional 43 shares in the last quarter. Finally, Private Trust Co. NA increased its stake in shares of Sterling Infrastructure by 9.4% during the second quarter. Private Trust Co. NA now owns 591 shares of the construction company's stock worth $136,000 after buying an additional 51 shares during the period. 80.95% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several research analysts have issued reports on the company. DA Davidson boosted their target price on Sterling Infrastructure from $355.00 to $460.00 and gave the company a "buy" rating in a research report on Wednesday, November 5th. Weiss Ratings cut Sterling Infrastructure from a "buy (b-)" rating to a "hold (c+)" rating in a report on Monday, January 12th. Zacks Research downgraded Sterling Infrastructure from a "strong-buy" rating to a "hold" rating in a research report on Monday, January 5th. Finally, Wall Street Zen downgraded Sterling Infrastructure from a "strong-buy" rating to a "buy" rating in a research report on Friday, September 26th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $460.00.
View Our Latest Report on Sterling Infrastructure
About Sterling Infrastructure
(
Get Free Report)
Sterling Infrastructure, Inc (NASDAQ: STRL) is a diversified manufacturer and distributor of essential infrastructure products serving municipal, utility and industrial customers across North America. Through its network of wholly owned subsidiaries, the company designs, engineers and produces a wide range of cast and fabricated solutions tailored to the needs of the waterworks, natural gas, telecommunications, electric, traffic safety and parks & recreation markets.
The company's product portfolio encompasses ductile iron and composite fittings, valve boxes, manhole frames and covers, water and gas meter sets, street light poles and mounting accessories, traffic sign posts with breakaway systems, bollards and related system components.
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