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Mark D. Wolf, General Counsel and Corporate Secretary of Sterling Infrastructure, Inc. (NASDAQ:STRL), a $3.88 billion market cap construction company with a "GREAT" financial health rating according to InvestingPro, recently reported a sale of company shares valued at $313,096. According to a filing with the Securities and Exchange Commission, Wolf sold 2,563 shares of common stock at a price of $122.16 per share on February 26, 2025. The transaction comes as Sterling’s stock has experienced recent volatility, with the shares down nearly 27% year-to-date despite the company’s strong earnings of $8.35 per share over the last twelve months. Following this transaction, Wolf holds 32,815 shares, with 3,311 of these shares subject to certain restrictions and potential forfeiture.
Additionally, the filing noted that Wolf acquired 6,394 shares of common stock as a result of performance stock units granted in 2022 and 2023 that have met specific performance conditions. These shares were acquired at no cost.
Wolf’s transaction comes as part of a procedure approved by Sterling Infrastructure’s Compensation Committee, allowing the retention of shares to cover tax withholding obligations resulting from the release of restrictions on previously awarded stock units.
In other recent news, Sterling Construction Company Inc. reported strong fourth-quarter 2024 earnings, with an adjusted EPS of $1.46, surpassing the forecast of $1.29. However, the company’s revenue of $498.8 million fell short of the expected $533.43 million. Despite the revenue miss, Sterling’s E-Infrastructure backlog exceeded $1 billion for the first time, reflecting strategic shifts towards higher-margin projects and geographic expansion. DA Davidson analyst Brent Thielman upgraded Sterling’s stock from Neutral to Buy, setting a price target of $185, citing stronger-than-anticipated margins, earnings, and cash flow potential. Thielman emphasized the company’s attractive valuation and potential growth from mergers and acquisitions in the future. Sterling’s full-year 2024 performance showed a 37% growth in adjusted EPS and a 7% increase in total revenue, reaching $2.1 billion. The company’s strategic focus on high-margin projects and market expansion has positioned it favorably for continued growth. Sterling has provided 2025 revenue guidance between $2.0 billion and $2.15 billion, with anticipated significant profit growth in its E-Infrastructure and Transportation Solutions divisions.
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