DA Davidson Analysts Boost Earnings Estimates for Sterling Infrastructure, Inc. (NASDAQ:STRL)

Sterling Infrastructure, Inc. (NASDAQ:STRL – Get Rating) – Investment analysts at DA Davidson lifted their FY2023 earnings per share estimates for Sterling Infrastructure in a report released on Thursday, March 2nd. DA Davidson analyst B. Thielman now anticipates that the construction company will earn $3.41 per share for the year, up from their prior estimate of $3.28. The consensus estimate for Sterling Infrastructure’s current full-year earnings is $3.46 per share.

Separately, StockNews.com cut Sterling Infrastructure from a “strong-buy” rating to a “buy” rating in a research note on Monday, February 20th.

Sterling Infrastructure Trading Up 2.4 %

Shares of NASDAQ STRL opened at $40.87 on Friday. The stock’s 50 day moving average price is $34.98 and its two-hundred day moving average price is $30.04. Sterling Infrastructure has a 52-week low of $20.46 and a 52-week high of $41.31. The stock has a market capitalization of $1.25 billion, a P/E ratio of 11.68, a PEG ratio of 0.64 and a beta of 1.37. The company has a quick ratio of 1.31, a current ratio of 1.34 and a debt-to-equity ratio of 0.83.

Insider Transactions at Sterling Infrastructure

In other news, CEO Joseph A. Cutillo sold 8,509 shares of the stock in a transaction that occurred on Wednesday, January 25th. The stock was sold at an average price of $33.40, for a total transaction of $284,200.60. Following the sale, the chief executive officer now directly owns 684,350 shares in the company, valued at approximately $22,857,290. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Joseph A. Cutillo sold 8,509 shares of the stock in a transaction that occurred on Wednesday, January 25th. The stock was sold at an average price of $33.40, for a total transaction of $284,200.60. Following the sale, the chief executive officer now directly owns 684,350 shares in the company, valued at approximately $22,857,290. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Joseph A. Cutillo sold 5,002 shares of the stock in a transaction that occurred on Tuesday, February 28th. The stock was sold at an average price of $40.14, for a total value of $200,780.28. Following the sale, the chief executive officer now owns 763,106 shares in the company, valued at $30,631,074.84. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 17,202 shares of company stock worth $602,656. 3.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Sterling Infrastructure

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Castleark Management LLC grew its holdings in Sterling Infrastructure by 1.9% in the 2nd quarter. Castleark Management LLC now owns 141,104 shares of the construction company’s stock worth $3,093,000 after buying an additional 2,620 shares in the last quarter. Renaissance Group LLC grew its holdings in Sterling Infrastructure by 2.2% in the 3rd quarter. Renaissance Group LLC now owns 63,609 shares of the construction company’s stock worth $1,366,000 after buying an additional 1,348 shares in the last quarter. 1492 Capital Management LLC grew its holdings in Sterling Infrastructure by 146.0% in the 2nd quarter. 1492 Capital Management LLC now owns 136,389 shares of the construction company’s stock worth $2,990,000 after buying an additional 80,941 shares in the last quarter. CMG Global Holdings LLC grew its holdings in Sterling Infrastructure by 24.2% in the 2nd quarter. CMG Global Holdings LLC now owns 138,482 shares of the construction company’s stock worth $3,036,000 after buying an additional 27,000 shares in the last quarter. Finally, Phocas Financial Corp. boosted its stake in Sterling Infrastructure by 2.7% during the 3rd quarter. Phocas Financial Corp. now owns 458,018 shares of the construction company’s stock valued at $9,834,000 after purchasing an additional 12,185 shares in the last quarter. 77.74% of the stock is owned by institutional investors.

About Sterling Infrastructure

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Sterling Infrastructure, Inc engages in the provision of construction solutions. It operates through the following segments: Transportation Solutions, E-Infrastructure Solutions, and Building Solutions. The Transportation Solutions segment includes infrastructure and rehabilitation projects for highways, roads, bridges, airports, ports, light rail, water, wastewater, and storm drainage systems.

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