Acadian Asset Management LLC raised its position in shares of 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 hedge funds have also bought and sold shares of the company. Russell Investments Group Ltd. boosted its stake in Sterling Construction by 14.0% in the second quarter. Russell Investments Group Ltd. now owns 140,085 shares of the construction company’s stock worth $1,830,000 after buying an additional 17,160 shares during the period. Thomson Horstmann & Bryant Inc. purchased a new stake in shares of Sterling Construction during the second quarter worth $3,060,000. Goldman Sachs Group Inc. purchased a new stake in shares of Sterling Construction during the first quarter worth $1,263,000. BlueCrest Capital Management Ltd purchased a new stake in shares of Sterling Construction during the first quarter worth $203,000. Finally, Highbridge Capital Management LLC purchased a new stake in shares of Sterling Construction during the first quarter worth $150,000. Hedge funds and other institutional investors own 75.14% of the company’s stock.
Shares of Sterling Construction Company Inc (NASDAQ:STRL) remained flat at $9.76 during trading on Friday. The company’s stock had a trading volume of 146,530 shares. The stock’s market cap is $263.81 million. Sterling Construction Company Inc has a 52 week low of $6.13 and a 52 week high of $14.93. The firm has a 50 day moving average of $12.16 and a 200 day moving average of $10.40.
Sterling Construction (NASDAQ:STRL) last posted its quarterly earnings data on Wednesday, August 2nd. The construction company reported $0.23 earnings per share for the quarter, topping the 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 positive return on equity of 0.06% and a negative net margin of 0.33%. The company’s quarterly revenue was up 39.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.09 EPS. Equities analysts anticipate that Sterling Construction Company Inc will post $0.39 EPS for the current fiscal year.
STRL has been the subject of a number of analyst reports. Canaccord Genuity restated a “buy” rating and issued a $12.00 price objective on shares of Sterling Construction in a research note on Friday, April 28th. Zacks Investment Research upgraded shares of Sterling Construction from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research note on Thursday, May 11th. DA Davidson upgraded shares of Sterling Construction from a “neutral” rating to a “buy” rating and set a $15.00 price objective for the company in a research note on Thursday, June 29th. BidaskClub lowered shares of Sterling Construction from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Finally, TheStreet raised shares of Sterling Construction from a “c” rating to a “b-” rating in a research report on Wednesday, August 2nd. One equities research analyst has rated the stock with a sell rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Sterling Construction currently has an average rating of “Buy” and an average target price of $14.00.
In other Sterling Construction news, Director Milton L. Scott sold 15,000 shares of the stock in a transaction on Tuesday, June 20th. The stock was sold at an average price of $10.63, for a total transaction of $159,450.00. Following the transaction, the director now owns 45,307 shares in the company, valued at approximately $481,613.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 5.20% of the stock is owned by company insiders.
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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