©Reuters.
Sterling Infrastructure Inc. (NASDAQ:STRL) CEO Joseph A. Cutillo recently sold a significant amount of his company's stock, totaling more than $13 million. The sale was carried out over three days and was based on a pre-arranged trading plan.
The series of transactions began on March 20, 2024, when Cutillo sold 33,214 shares at an average price of $108.714, followed by 48,077 shares on March 21, 2024, at an average price of $110.6127. The last sale took place on March 22nd, when 40,713 shares were sold at an average price of $111.7441. These sale prices ranged from $106.44 to $112.76 per share.
Following these transactions, the CEO still owns a significant amount of Starling Infrastructure stock, with 606,455 shares owned. Please note that 62,190 of these shares are subject to restrictions that may affect their sale or transfer under certain conditions.
These sales were conducted pursuant to a Rule 10b5-1 trading plan adopted by Cutillo on December 20, 2023. Such a plan allows company insiders to have a pre-arranged plan to sell stock at a time when they no longer own it. Material Non-Public Information.
As the market processes this information, investors and analysts alike will be keeping an eye on Starling Infrastructure stock's performance. Operating in the heavy construction sector, the company continues to be a notable player in the industry.
Investment Pro Insights
Starling Infrastructure CEO Joseph A. Cutillo's recent stock trades have caught the market's attention, and considering these events it is worth taking a look at the company's financial health and performance metrics. With a market capitalization of his $3.46 billion, the company looks solid within its industry. InvestingPro tips that Starling Infrastructure is trading at a low P/E ratio relative to its short-term earnings growth, currently sitting at 24.71x, suggesting the stock is undervalued given its earnings trajectory. It is emphasized that there is a possibility that This is further supported by the company's trailing 12-month PEG ratio as of Q4 2023, which is below his 0.89 of 1, and its growth potential relative to earnings.
As of the trailing twelve months ending in Q4 2023, the company has a high price-to-book ratio of 5.6. This suggests that investors are willing to pay a premium for the company's net assets, likely due to the high return of 188.81%. The stock was supplied last year. Another InvestingPro takeaway points to the fact that Starling Infrastructure has more cash than debt on its balance sheet, which is an encouraging sign of financial stability for investors.
If you're looking for more in-depth analysis and additional InvestingPro tips, we have 11 more tips listed on InvestingPro's Starling Infrastructure page.Interested readers can use the coupon code pro news 24 Get an extra 10% off annual or biennial Pro and Pro+ subscriptions. This could provide further insight into whether now is a strategic time to invest in Sterling Infrastructure. The next earnings date is set for April 29, 2024, a key date for current and potential investors to note.
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