State Street Corp Grows Holdings in Sterling Construction Company, Inc. (NASDAQ:STRL)

State Street Corp boosted its position in Sterling Construction Company, Inc. (NASDAQ:STRL) by 2,766.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 340,078 shares of the construction company’s stock after purchasing an additional 328,213 shares during the period. State Street Corp owned about 1.26% of Sterling Construction worth $4,446,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in STRL. Renaissance Technologies LLC lifted its position in shares of Sterling Construction by 33.4% during the 2nd quarter. Renaissance Technologies LLC now owns 1,479,900 shares of the construction company’s stock valued at $19,342,000 after buying an additional 370,800 shares in the last quarter. AJO LP purchased a new position in shares of Sterling Construction during the 2nd quarter valued at about $4,098,000. Northern Trust Corp lifted its position in shares of Sterling Construction by 382.8% during the 2nd quarter. Northern Trust Corp now owns 286,088 shares of the construction company’s stock valued at $3,739,000 after buying an additional 226,832 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Sterling Construction by 14.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,385,898 shares of the construction company’s stock valued at $12,819,000 after buying an additional 177,239 shares in the last quarter. Finally, OxFORD Asset Management LLP lifted its position in shares of Sterling Construction by 114.3% during the 2nd quarter. OxFORD Asset Management LLP now owns 323,446 shares of the construction company’s stock valued at $4,227,000 after buying an additional 172,514 shares in the last quarter. 71.91% of the stock is currently owned by institutional investors and hedge funds.

STRL has been the topic of a number of analyst reports. BidaskClub cut Sterling Construction from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, December 5th. Zacks Investment Research cut Sterling Construction from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 4th. Finally, TheStreet raised Sterling Construction from a “c+” rating to a “b-” rating in a research report on Tuesday, December 12th. One equities research analyst has rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Sterling Construction has an average rating of “Buy” and a consensus target price of $17.00.

In related news, Director Maarten D. Hemsley sold 29,800 shares of Sterling Construction stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $17.32, for a total transaction of $516,136.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 5.20% of the stock is currently owned by company insiders.

Shares of Sterling Construction Company, Inc. (STRL) traded down $0.36 on Friday, reaching $16.28. The company had a trading volume of 186,715 shares, compared to its average volume of 274,676. The company has a market cap of $440.39, a P/E ratio of 110.93, a PEG ratio of 3.40 and a beta of 0.36. Sterling Construction Company, Inc. has a 52 week low of $7.75 and a 52 week high of $18.90. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.44 and a quick ratio of 1.42.

Sterling Construction (NASDAQ:STRL) last issued its earnings results on Monday, October 30th. The construction company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.04. The company had revenue of $304.20 million for the quarter, compared to the consensus estimate of $263.69 million. Sterling Construction had a return on equity of 3.90% and a net margin of 0.25%. The firm’s quarterly revenue was up 48.0% on a year-over-year basis. During the same quarter last year, the company earned $0.10 EPS. equities research analysts predict that Sterling Construction Company, Inc. will post 0.44 EPS for the current year.

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Sterling Construction 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.

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

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