New York State Common Retirement Fund Takes $361,000 Position in Sterling Construction Company Inc (STRL)

New York State Common Retirement Fund bought a new stake in shares of Sterling Construction Company Inc (NASDAQ:STRL) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 27,600 shares of the construction company’s stock, valued at approximately $361,000. New York State Common Retirement Fund owned 0.10% of Sterling Construction at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Campbell & CO Investment Adviser LLC acquired a new position in Sterling Construction during the 2nd quarter valued at about $143,000. Thompson Davis & CO. Inc. acquired a new position in Sterling Construction during the 2nd quarter valued at about $150,000. Airain ltd acquired a new position in Sterling Construction during the 2nd quarter valued at about $168,000. Ameriprise Financial Inc. acquired a new position in Sterling Construction during the 2nd quarter valued at about $306,000. Finally, Bank of New York Mellon Corp increased its stake in Sterling Construction by 74.3% during the 1st quarter. Bank of New York Mellon Corp now owns 24,690 shares of the construction company’s stock valued at $228,000 after buying an additional 10,528 shares during the period. 79.55% of the stock is currently owned by hedge funds and other institutional investors.

STRL has been the topic of several research analyst reports. TheStreet raised shares of Sterling Construction from a “c” rating to a “b-” rating in a research note on Wednesday, August 2nd. BidaskClub cut shares of Sterling Construction from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. Canaccord Genuity reissued a “buy” rating and set a $15.00 target price on shares of Sterling Construction in a research note on Wednesday, August 9th. Finally, Zacks Investment Research raised shares of Sterling Construction from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a research note on Thursday, October 19th. One equities research analyst has rated the stock with a sell rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Sterling Construction currently has a consensus rating of “Buy” and a consensus price target of $17.00.

Sterling Construction Company Inc (STRL) opened at $16.79 on Friday. Sterling Construction Company Inc has a 12-month low of $7.75 and a 12-month high of $18.82. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.42 and a current ratio of 1.44. The firm has a market cap of $450.40, a PE ratio of 110.87, a PEG ratio of 3.40 and a beta of 0.39.

Sterling Construction (NASDAQ:STRL) last posted its quarterly earnings data on Monday, October 30th. The construction company reported $0.26 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.04. Sterling Construction had a net margin of 0.25% and a return on equity of 3.90%. The company had revenue of $304.20 million during the quarter, compared to analyst estimates of $263.69 million. During the same quarter last year, the firm posted $0.10 EPS. The business’s revenue for the quarter was up 48.0% on a year-over-year basis. sell-side analysts expect that Sterling Construction Company Inc will post 0.44 earnings per share for the current year.

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Sterling Construction Profile

Sterling Construction Company, Inc is a heavy civil construction company engaged in the building and reconstruction of transportation and water infrastructure projects in Texas, Utah, Nevada, Arizona, California, Hawaii and other states. The Company’s transportation infrastructure projects include highways, roads, bridges, airfields, ports and light rail.

Institutional Ownership by Quarter for Sterling Construction (NASDAQ:STRL)

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