THE WOODLANDS, Texas - Sterling Infrastructure, Inc. (NASDAQ:STRL), a company specializing in infrastructure solutions, has appointed Sharon Villaverde as its new Chief Financial Officer (CFO) and Chief Accounting Officer (CAO), effective last Monday. Villaverde succeeds Ron Ballschmiede, who will transition from his dual roles to focus on assisting with the changeover until his retirement later this year.
Villaverde brings three decades of financial expertise to her new positions, having served in various accounting and finance roles across notable public companies. Her experience includes telecommunications construction, manufacturing, and defense contracting. Prior to Sterling, she was the Vice President and Chief Accounting Officer at Dycom (NYSE:DY) Industries, Inc. since 2018, and before that, she held a similar role at Natus Medical Incorporated. Her career began at Deloitte & Touche, and she holds a Bachelor of Science in Accounting from the University of Central Oklahoma, in addition to being a Certified Public Accountant.
Joe Cutillo, CEO of Sterling, expressed confidence in Villaverde's capabilities to enhance the company's financial standing and leverage market opportunities. Cutillo also acknowledged Ballschmiede's significant contributions to the company's growth and transformation during his tenure.
Ballschmiede reflected positively on his time at Sterling, noting the company's evolution into a leading infrastructure services provider and his anticipation for a smooth transition of his duties to Villaverde.
Villaverde expressed her honor in taking on the roles of CFO and CAO and her eagerness to drive the financial team towards new milestones, contributing to Sterling's growth and success.
Sterling operates through subsidiaries in three segments: E-Infrastructure, Transportation, and Building Solutions, with a focus on sustainability and community engagement. The company provides services across various U.S. regions and the Pacific Islands, including site development for multiple sectors, infrastructure projects, and residential and commercial concrete foundations.
This announcement is based on a press release statement from Sterling Infrastructure, Inc.
InvestingPro Insights
As Sharon Villaverde steps into her new role at Sterling Infrastructure, Inc. (NASDAQ:STRL), the company's financial health and market performance remain critical for investors and stakeholders. Sterling has demonstrated a robust financial position, as indicated by the fact that it holds more cash than debt on its balance sheet, providing the company with a solid foundation for future growth and stability.
InvestingPro metrics show that Sterling's market cap stands at $3.93 billion, with a P/E ratio of 26.72, reflecting investor confidence in the company's earnings potential. The P/E ratio, adjusted for the last twelve months as of Q1 2024, is slightly lower at 26.1. This adjustment aligns with the company's revenue growth of 11.18% during the same period, signaling healthy top-line performance. Moreover, a PEG ratio of 0.69 suggests that Sterling's share price is potentially undervalued relative to its earnings growth, making it an attractive prospect for value investors.
The company's shares are trading at a high Price / Book multiple of 6.1, which could indicate that the market expects high growth or that investors are willing to pay a premium for Sterling's assets. With a strong return over the last year, as evidenced by the 195.84% one-year price total return, the stock's momentum is clear. However, the InvestingPro Tip that the RSI suggests the stock is in overbought territory could signal caution for potential investors considering the timing of their investments.
For investors looking to delve deeper into Sterling Infrastructure's financials and market performance, InvestingPro offers additional insights. There are 12 more InvestingPro Tips available, which can help investors make more informed decisions. To explore these tips and gain comprehensive investment analysis, visit InvestingPro. Remember to use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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