Cadence Capital Management LLC Grows Holdings in Sterling Construction Company, Inc. (STRL)

Cadence Capital Management LLC raised its stake in Sterling Construction Company, Inc. (NASDAQ:STRL) by 90.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 219,293 shares of the construction company’s stock after buying an additional 103,895 shares during the period. Cadence Capital Management LLC owned about 0.81% of Sterling Construction worth $3,140,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Boston Advisors LLC bought a new stake in shares of Sterling Construction in the 2nd quarter valued at about $3,624,000. Dalton Greiner Hartman Maher & Co. raised its holdings in shares of Sterling Construction by 56.6% in the 2nd quarter. Dalton Greiner Hartman Maher & Co. now owns 435,247 shares of the construction company’s stock valued at $5,671,000 after purchasing an additional 157,271 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Sterling Construction by 7.9% in the 2nd quarter. BlackRock Inc. now owns 1,933,866 shares of the construction company’s stock valued at $25,198,000 after purchasing an additional 141,661 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Sterling Construction by 15.6% in the 1st quarter. Millennium Management LLC now owns 1,007,664 shares of the construction company’s stock valued at $11,548,000 after purchasing an additional 136,147 shares in the last quarter. Finally, Royce & Associates LP raised its holdings in shares of Sterling Construction by 97.7% in the 2nd quarter. Royce & Associates LP now owns 241,800 shares of the construction company’s stock valued at $3,151,000 after purchasing an additional 119,500 shares in the last quarter. 76.05% of the stock is owned by institutional investors.

NASDAQ STRL opened at $12.16 on Wednesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.65 and a quick ratio of 1.64. The company has a market cap of $323.68 million, a P/E ratio of 22.11, a PEG ratio of 1.16 and a beta of 0.70. Sterling Construction Company, Inc. has a 52 week low of $10.74 and a 52 week high of $18.90.

Sterling Construction (NASDAQ:STRL) last posted its quarterly earnings data on Monday, November 5th. The construction company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.03). The firm had revenue of $291.30 million for the quarter, compared to the consensus estimate of $301.90 million. Sterling Construction had a return on equity of 13.94% and a net margin of 1.99%. The company’s revenue was down 4.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.26 EPS. Research analysts forecast that Sterling Construction Company, Inc. will post 0.94 earnings per share for the current fiscal year.

Several equities research analysts have recently commented on STRL shares. Zacks Investment Research upgraded shares of Sterling Construction from a “sell” rating to a “hold” rating in a report on Thursday, August 9th. BidaskClub lowered shares of Sterling Construction from a “hold” rating to a “sell” rating in a research note on Wednesday, October 24th. ValuEngine lowered shares of Sterling Construction from a “buy” rating to a “hold” rating in a research note on Friday, September 7th. Finally, Canaccord Genuity reiterated a “buy” rating and set a $20.00 price objective on shares of Sterling Construction in a research note on Friday, August 10th. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $17.50.

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

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