Sterling Infrastructure (NASDAQ:STRL) Stock Price Down 10.5% – Time to Sell?

Sterling Infrastructure, Inc. (NASDAQ:STRL) traded down 10.5% on Thursday . The company traded as low as $333.12 and last traded at $340.6040. 472,618 shares changed hands during mid-day trading, a decline of 26% from the average session volume of 642,946 shares. The stock had previously closed at $380.70.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Sterling Infrastructure in a report on Wednesday, October 8th. DA Davidson upped their price objective on Sterling Infrastructure from $355.00 to $460.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. Zacks Research lowered Sterling Infrastructure from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 3rd. Finally, Wall Street Zen downgraded shares of Sterling Infrastructure from a “strong-buy” rating to a “buy” rating in a report on Friday, September 26th. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, Sterling Infrastructure has an average rating of “Moderate Buy” and a consensus price target of $460.00.

Sterling Infrastructure Stock Performance

The company has a debt-to-equity ratio of 0.31, a current ratio of 1.42 and a quick ratio of 1.42. The company has a 50 day simple moving average of $353.99 and a 200-day simple moving average of $274.37. The stock has a market capitalization of $10.40 billion, a P/E ratio of 36.81, a price-to-earnings-growth ratio of 2.98 and a beta of 1.39.

Sterling Infrastructure (NASDAQ:STRL) last posted its quarterly earnings results on Monday, June 3rd. The construction company reported $0.64 earnings per share for the quarter. Sterling Infrastructure had a return on equity of 27.93% and a net margin of 13.33%.The company had revenue of $403.58 million during the quarter. On average, equities analysts forecast that Sterling Infrastructure, Inc. will post 5.98 EPS for the current year.

Sterling Infrastructure declared that its board has authorized a stock repurchase program on Wednesday, November 12th that allows the company to repurchase $400.00 million in shares. This repurchase authorization allows the construction company to buy up to 3.4% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. UMB Bank n.a. raised its stake in shares of Sterling Infrastructure by 27.5% during the 3rd 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 increased its position 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 buying an additional 35 shares during the period. Hantz Financial Services Inc. lifted its holdings in shares of Sterling Infrastructure by 16.1% in the second quarter. Hantz Financial Services Inc. now owns 295 shares of the construction company’s stock worth $68,000 after buying an additional 41 shares in the last quarter. CWC Advisors LLC. lifted its holdings in shares of Sterling Infrastructure by 2.4% in the second quarter. CWC Advisors LLC. now owns 1,858 shares of the construction company’s stock worth $429,000 after buying an additional 43 shares in the last quarter. Finally, Richardson Financial Services Inc. boosted its position in shares of Sterling Infrastructure by 22.6% in the third quarter. Richardson Financial Services Inc. now owns 233 shares of the construction company’s stock valued at $79,000 after acquiring an additional 43 shares during the period. 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.