ClariVest Asset Management LLC bought a new position in Sterling Construction Company Inc (NASDAQ:STRL) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor bought 86,838 shares of the construction company’s stock, valued at approximately $1,322,000. ClariVest Asset Management LLC owned 0.32% of Sterling Construction at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Sterling Construction by 10.8% in the 1st quarter. Vanguard Group Inc. now owns 898,718 shares of the construction company’s stock worth $8,313,000 after buying an additional 87,436 shares during the period. Russell Investments Group Ltd. grew its position in Sterling Construction by 14.0% during the 2nd quarter. Russell Investments Group Ltd. now owns 140,085 shares of the construction company’s stock valued at $1,830,000 after purchasing an additional 17,160 shares during the last quarter. Morgan Stanley grew its position in Sterling Construction by 2,982.3% during the 1st quarter. Morgan Stanley now owns 169,097 shares of the construction company’s stock valued at $1,564,000 after purchasing an additional 163,611 shares during the last quarter. Citadel Advisors LLC grew its position in Sterling Construction by 84.3% during the 2nd quarter. Citadel Advisors LLC now owns 31,713 shares of the construction company’s stock valued at $414,000 after purchasing an additional 14,508 shares during the last quarter. Finally, Cornerstone Capital Management Holdings LLC. grew its position in Sterling Construction by 43.3% during the 2nd quarter. Cornerstone Capital Management Holdings LLC. now owns 45,700 shares of the construction company’s stock valued at $596,000 after purchasing an additional 13,800 shares during the last quarter. 71.96% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Sterling Construction Company Inc (NASDAQ:STRL) traded up $0.11 during midday trading on Thursday, hitting $17.97. 629,650 shares of the stock were exchanged, compared to its average volume of 300,679. 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 stock has a market cap of $457.43, a P/E ratio of 112.73, a PEG ratio of 3.45 and a beta of 0.36. Sterling Construction Company Inc has a 12-month low of $7.75 and a 12-month high of $18.90.
Sterling Construction (NASDAQ:STRL) last announced its quarterly earnings results on Monday, October 30th. The construction company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.04. The firm had revenue of $304.20 million for the quarter, compared to the consensus estimate of $263.69 million. Sterling Construction had a net margin of 0.25% and a return on equity of 3.90%. The business’s quarterly revenue was up 48.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.10 EPS. equities research analysts forecast that Sterling Construction Company Inc will post 0.44 EPS for the current fiscal year.
Several brokerages recently commented on STRL. Zacks Investment Research raised shares of Sterling Construction from a “hold” rating to a “strong-buy” rating and set a $21.00 price objective on the stock in a research report on Friday, November 3rd. BidaskClub downgraded shares of Sterling Construction from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Canaccord Genuity reissued a “buy” rating and set a $15.00 price objective on shares of Sterling Construction in a research report on Wednesday, August 9th. Finally, TheStreet downgraded shares of Sterling Construction from a “b-” rating to a “c” rating in a research report on Monday, August 21st. Three analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Sterling Construction presently has a consensus rating of “Buy” and a consensus price target of $17.00.
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About Sterling Construction
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.
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