Key Points
- Dana O'Brien sold 2,000 shares of Sterling Infrastructure (STRL) on Feb. 6 at an average price of $395 for $790,000, leaving her with 13,498 shares and a 12.9% reduction in her ownership, according to an SEC filing.
- Sterling authorized a $400 million share repurchase program, permitting buybacks of up to about 3.4% of outstanding shares, a move management says suggests the stock may be undervalued.
- Analyst sentiment is broadly positive with a consensus "Moderate Buy" and a $436.50 price target, supported by recent coverage and upgrades from Cantor Fitzgerald, DA Davidson (target $460), and Weiss Ratings.
Sterling Infrastructure, Inc. (NASDAQ:STRL - Get Free Report) Director Dana O'brien sold 2,000 shares of the stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $395.00, for a total value of $790,000.00. Following the sale, the director owned 13,498 shares in the company, valued at approximately $5,331,710. This trade represents a 12.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Sterling Infrastructure Trading Down 0.7%
Shares of STRL opened at $415.55 on Wednesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.00 and a current ratio of 1.00. The company has a market cap of $12.77 billion, a price-to-earnings ratio of 40.74, a PEG ratio of 2.45 and a beta of 1.51. The stock has a fifty day moving average price of $336.19 and a two-hundred day moving average price of $330.71. Sterling Infrastructure, Inc. has a 52-week low of $96.34 and a 52-week high of $426.09.
Sterling Infrastructure announced that its Board of Directors has approved a share repurchase program on Wednesday, November 12th that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the construction company to reacquire up to 3.4% of its shares through open market purchases. Shares buyback programs are often an indication that the company's leadership believes its shares are undervalued.
Analysts Set New Price Targets
STRL has been the subject of a number of recent research reports. Cantor Fitzgerald assumed coverage on Sterling Infrastructure in a research report on Friday, January 23rd. They set an "overweight" rating and a $413.00 target price for the company. Zacks Research cut Sterling Infrastructure from a "strong-buy" rating to a "hold" rating in a research note on Monday, January 5th. DA Davidson lifted their price target on Sterling Infrastructure from $355.00 to $460.00 and gave the company a "buy" rating in a research note on Wednesday, November 5th. Finally, Weiss Ratings upgraded shares of Sterling Infrastructure from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, January 26th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $436.50.
Read Our Latest Report on STRL
Institutional Investors Weigh In On Sterling Infrastructure
Hedge funds have recently made changes to their positions in the stock. Twin Peaks Wealth Advisors LLC bought a new position in Sterling Infrastructure in the 2nd quarter valued at approximately $26,000. Root Financial Partners LLC acquired a new stake in Sterling Infrastructure during the third quarter worth approximately $26,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Sterling Infrastructure during the 3rd quarter worth approximately $28,000. Fifth Third Bancorp raised its holdings in shares of Sterling Infrastructure by 76.1% during the third quarter. Fifth Third Bancorp now owns 81 shares of the construction company's stock valued at $28,000 after purchasing an additional 35 shares during the period. Finally, Ameritas Advisory Services LLC acquired a new stake in Sterling Infrastructure in the second quarter valued at approximately $29,000. 80.95% of the stock is currently owned by institutional investors and hedge funds.
Sterling Infrastructure Company Profile
(
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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