Rhumbline Advisers lowered its holdings in Sterling Construction Company Inc (NASDAQ:STRL) by 15.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 24,068 shares of the construction company’s stock after selling 4,517 shares during the quarter. Rhumbline Advisers’ holdings in Sterling Construction were worth $392,000 at the end of the most recent reporting period.
Several other large investors have also bought and sold shares of STRL. Bank of New York Mellon Corp raised its holdings in shares of Sterling Construction by 27.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 159,851 shares of the construction company’s stock valued at $2,434,000 after purchasing an additional 34,104 shares in the last quarter. Macquarie Group Ltd. bought a new stake in shares of Sterling Construction in the 3rd quarter valued at about $214,000. JPMorgan Chase & Co. raised its holdings in shares of Sterling Construction by 39.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 202,147 shares of the construction company’s stock valued at $3,113,000 after purchasing an additional 56,947 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Sterling Construction by 4.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,553,682 shares of the construction company’s stock valued at $23,663,000 after purchasing an additional 70,860 shares in the last quarter. Finally, Engineers Gate Manager LP bought a new stake in shares of Sterling Construction in the 3rd quarter valued at about $1,072,000. Institutional investors and hedge funds own 74.98% of the company’s stock.
A number of brokerages have recently issued reports on STRL. BidaskClub downgraded shares of Sterling Construction from a “buy” rating to a “hold” rating in a research report on Tuesday, December 12th. TheStreet raised shares of Sterling Construction from a “c+” rating to a “b-” rating in a research report on Tuesday, December 12th. Zacks Investment Research downgraded shares of Sterling Construction from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 5th. Finally, ValuEngine raised shares of Sterling Construction from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $17.00.
In other news, COO Con L. Wadsworth acquired 8,000 shares of the business’s stock in a transaction dated Thursday, March 8th. The shares were purchased at an average price of $12.43 per share, with a total value of $99,440.00. Following the transaction, the chief operating officer now directly owns 68,670 shares in the company, valued at $853,568.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 5.20% of the stock is owned by insiders.
Shares of Sterling Construction stock opened at $11.34 on Friday. The company has a current ratio of 1.53, a quick ratio of 1.50 and a debt-to-equity ratio of 0.59. Sterling Construction Company Inc has a 52-week low of $8.60 and a 52-week high of $18.90. The company has a market capitalization of $314.68, a PE ratio of 20.62, a PEG ratio of 1.17 and a beta of 0.41.
Sterling Construction (NASDAQ:STRL) last issued its quarterly earnings data on Monday, March 5th. The construction company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.02). Sterling Construction had a return on equity of 10.76% and a net margin of 1.21%. The firm had revenue of $253.90 million during the quarter, compared to analysts’ expectations of $221.53 million. During the same period in the previous year, the firm earned ($0.25) EPS. The firm’s quarterly revenue was up 50.9% on a year-over-year basis. equities research analysts expect that Sterling Construction Company Inc will post 0.91 earnings per share for the current fiscal year.
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Sterling Construction Company Profile
Sterling Construction Company, Inc, together with its subsidiaries, operates as a heavy civil and residential construction company in Arizona, California, Colorado, Hawaii, Nevada, Texas, Utah, and other states in the United States. The company's Heavy Civil Construction segment undertakes heavy civil construction projects, including highways, roads, bridges, airfields, ports, light rail, water, wastewater and storm drainage systems, foundations for multi-family homes, commercial concrete projects, and parking structures.
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