Bridgeway Capital Management Inc. reduced its stake in shares of Sterling Construction Company, Inc. (NASDAQ:STRL) by 40.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 208,537 shares of the construction company’s stock after selling 139,900 shares during the quarter. Bridgeway Capital Management Inc. owned 0.77% of Sterling Construction worth $2,986,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. BlackRock Inc. increased its holdings in 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 buying an additional 141,661 shares during the period. Raymond James Financial Services Advisors Inc. bought a new stake in Sterling Construction in the 2nd quarter valued at $135,000. Global X Management Co LLC increased its holdings in Sterling Construction by 17.1% in the 2nd quarter. Global X Management Co LLC now owns 23,795 shares of the construction company’s stock valued at $310,000 after buying an additional 3,476 shares during the period. Segall Bryant & Hamill LLC increased its holdings in Sterling Construction by 29.0% in the 2nd quarter. Segall Bryant & Hamill LLC now owns 80,155 shares of the construction company’s stock valued at $1,044,000 after buying an additional 17,998 shares during the period. Finally, Royce & Associates LP increased its holdings in 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 buying an additional 119,500 shares during the period. Hedge funds and other institutional investors own 78.28% of the company’s stock.
STRL opened at $12.87 on Monday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.59 and a current ratio of 1.61. Sterling Construction Company, Inc. has a twelve month low of $10.74 and a twelve month high of $18.90. The stock has a market capitalization of $348.37 million, a PE ratio of 23.40, a PEG ratio of 1.28 and a beta of 0.70.
Sterling Construction (NASDAQ:STRL) last posted its earnings results on Tuesday, November 6th. The construction company reported $0.33 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.02). Sterling Construction had a return on equity of 14.47% and a net margin of 2.19%. The firm had revenue of $291.30 million during the quarter, compared to the consensus estimate of $301.90 million. During the same period in the previous year, the company posted $0.26 EPS. The firm’s revenue for the quarter was down 4.2% compared to the same quarter last year. Analysts expect that Sterling Construction Company, Inc. will post 0.92 earnings per share for the current year.
Several brokerages have issued reports on STRL. Zacks Investment Research raised shares of Sterling Construction from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a report on Thursday, October 4th. Canaccord Genuity reissued a “buy” rating and issued a $20.00 price target on shares of Sterling Construction in a report on Friday, August 10th. BidaskClub raised shares of Sterling Construction from a “sell” rating to a “hold” rating in a report on Thursday, November 1st. Finally, ValuEngine lowered shares of Sterling Construction from a “buy” rating to a “hold” rating in a report on Friday, September 7th. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $17.50.
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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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