Acadian Asset Management LLC increased its position in Sterling Construction Company Inc (NASDAQ:STRL) by 9.9% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 854,964 shares of the construction company’s stock after buying an additional 77,048 shares during the period. Acadian Asset Management LLC owned about 3.17% of Sterling Construction worth $11,175,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Highbridge Capital Management LLC purchased a new stake in shares of Sterling Construction during the first quarter worth approximately $150,000. Citadel Advisors LLC raised its stake in shares of Sterling Construction by 63.6% in the first quarter. Citadel Advisors LLC now owns 17,205 shares of the construction company’s stock worth $159,000 after buying an additional 6,691 shares during the period. Hancock Holding Co. purchased a new stake in shares of Sterling Construction during the first quarter worth approximately $181,000. Trexquant Investment LP raised its stake in shares of Sterling Construction by 8.1% in the first quarter. Trexquant Investment LP now owns 19,977 shares of the construction company’s stock worth $185,000 after buying an additional 1,489 shares during the period. Finally, BlueCrest Capital Management Ltd purchased a new stake in shares of Sterling Construction during the first quarter worth approximately $203,000. 74.58% of the stock is owned by institutional investors and hedge funds.
Sterling Construction Company Inc (NASDAQ STRL) traded down 3.00% during trading on Friday, hitting $10.36. The stock had a trading volume of 282,666 shares. Sterling Construction Company Inc has a 1-year low of $6.06 and a 1-year high of $14.93. The firm has a 50 day moving average price of $12.44 and a 200-day moving average price of $10.35. The firm’s market capitalization is $280.03 million.
Sterling Construction (NASDAQ:STRL) last posted its earnings results on Wednesday, August 2nd. The construction company reported $0.23 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.17. The firm had revenue of $264.40 million for the quarter, compared to analysts’ expectations of $231.42 million. Sterling Construction had a negative net margin of 0.33% and a positive return on equity of 0.06%. The company’s quarterly revenue was up 39.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.09 EPS. On average, equities research analysts expect that Sterling Construction Company Inc will post $0.39 EPS for the current year.
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A number of analysts have recently commented on STRL shares. BidaskClub lowered Sterling Construction from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Canaccord Genuity upped their target price on Sterling Construction from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Thursday, August 3rd. Zacks Investment Research lowered Sterling Construction from a “buy” rating to a “hold” rating in a report on Wednesday, July 5th. DA Davidson raised Sterling Construction from a “neutral” rating to a “buy” rating and set a $15.00 price target on the stock in a research report on Thursday, June 29th. Finally, TheStreet raised Sterling Construction from a “c” rating to a “b-” rating in a research report on Wednesday, August 2nd. One investment analyst has rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Sterling Construction presently has a consensus rating of “Buy” and an average target price of $14.00.
In related news, Director Milton L. Scott sold 15,000 shares of Sterling Construction stock in a transaction that occurred on Tuesday, June 20th. The shares were sold at an average price of $10.63, for a total value of $159,450.00. Following the sale, the director now owns 45,307 shares of the company’s stock, valued at approximately $481,613.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 5.20% of the company’s stock.
Sterling Construction Company 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.
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