22Nw LP decreased its holdings in shares of Sterling Construction Company, Inc. (NASDAQ:STRL) by 3.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,157,665 shares of the construction company’s stock after selling 36,100 shares during the period. Sterling Construction makes up approximately 8.9% of 22Nw LP’s holdings, making the stock its 2nd largest position. 22Nw LP owned approximately 4.28% of Sterling Construction worth $16,578,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also made changes to their positions in the company. Raymond James Financial Services Advisors Inc. acquired a new stake in Sterling Construction in the second quarter valued at about $135,000. Global X Management Co LLC lifted its position in Sterling Construction by 17.1% in the second quarter. Global X Management Co LLC now owns 23,795 shares of the construction company’s stock valued at $310,000 after purchasing an additional 3,476 shares during the period. Segall Bryant & Hamill LLC lifted its position in Sterling Construction by 29.0% in the second quarter. Segall Bryant & Hamill LLC now owns 80,155 shares of the construction company’s stock valued at $1,044,000 after purchasing an additional 17,998 shares during the period. BlackRock Inc. lifted its position in Sterling Construction by 7.9% in the second 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 during the period. Finally, Royce & Associates LP lifted its position in Sterling Construction by 97.7% in the second 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 during the period. Institutional investors and hedge funds own 78.28% of the company’s stock.
A number of equities research analysts recently commented on STRL shares. BidaskClub downgraded shares of Sterling Construction from a “hold” rating to a “sell” rating in a research report on Wednesday, October 24th. ValuEngine cut shares of Sterling Construction from a “buy” rating to a “hold” rating in a research note on Friday, September 7th. Zacks Investment Research cut shares of Sterling Construction from a “buy” rating to a “hold” rating in a research note on Tuesday, October 9th. Finally, Canaccord Genuity reissued a “buy” rating and set a $20.00 price objective on shares of Sterling Construction in a research note on Friday, August 10th. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Sterling Construction currently has a consensus rating of “Hold” and an average target price of $17.50.
Sterling Construction (NASDAQ:STRL) last released its earnings results on Tuesday, November 6th. The construction company reported $0.33 EPS 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 analysts’ expectations of $301.90 million. During the same period in the previous year, the firm posted $0.26 earnings per share. The firm’s revenue was down 4.2% on a year-over-year basis. As a group, sell-side analysts expect that Sterling Construction Company, Inc. will post 0.92 earnings per share for the current fiscal year.
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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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