BlackRock Inc. lowered its holdings in Sterling Construction Company Inc (NASDAQ:STRL) by 2.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,779,241 shares of the construction company’s stock after selling 38,468 shares during the period. BlackRock Inc. owned about 0.07% of Sterling Construction worth $28,965,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Macquarie Group Ltd. purchased a new position in Sterling Construction in the third quarter valued at about $214,000. Koshinski Asset Management Inc. purchased a new position in Sterling Construction in the fourth quarter valued at about $269,000. Kovack Advisors Inc. purchased a new position in Sterling Construction in the fourth quarter valued at about $348,000. Oppenheimer & Co. Inc. boosted its holdings in Sterling Construction by 28.0% in the fourth quarter. Oppenheimer & Co. Inc. now owns 28,800 shares of the construction company’s stock valued at $469,000 after purchasing an additional 6,300 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its holdings in Sterling Construction by 17.1% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 50,134 shares of the construction company’s stock valued at $817,000 after purchasing an additional 7,334 shares during the last quarter. 74.88% of the stock is owned by hedge funds and other institutional investors.
Shares of NASDAQ STRL opened at $11.32 on Friday. Sterling Construction Company Inc has a 52-week low of $8.61 and a 52-week high of $18.90. The company has a market cap of $311.17, a price-to-earnings ratio of 20.58, a PEG ratio of 1.16 and a beta of 0.41. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.50 and a current ratio of 1.53.
Sterling Construction (NASDAQ:STRL) last announced its quarterly earnings results on Monday, March 5th. The construction company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.02). The company had revenue of $253.90 million for the quarter, compared to analyst estimates of $221.53 million. Sterling Construction had a return on equity of 10.76% and a net margin of 1.21%. The firm’s revenue for the quarter was up 50.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.25) earnings per share. equities research analysts predict that Sterling Construction Company Inc will post 0.91 EPS for the current fiscal year.
Several analysts have issued reports on STRL shares. BidaskClub upgraded Sterling Construction from a “sell” rating to a “hold” rating in a research note on Saturday, January 20th. TheStreet cut Sterling Construction from a “b-” rating to a “c” rating in a research note on Monday, January 22nd. Zacks Investment Research cut Sterling Construction from a “hold” rating to a “sell” rating in a research note on Saturday, March 10th. Finally, ValuEngine upgraded Sterling Construction from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Two research analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the stock. Sterling Construction currently has a consensus rating of “Hold” and a consensus target price of $17.00.
In related news, COO Con L. Wadsworth purchased 8,000 shares of the company’s stock in a transaction dated Thursday, March 8th. The shares were acquired at an average cost of $12.43 per share, for a total transaction of $99,440.00. Following the transaction, the chief operating officer now owns 68,670 shares of the company’s stock, valued at $853,568.10. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 5.20% of the stock is currently owned by corporate insiders.
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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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