Wells Fargo & Company MN decreased its position in shares of Sterling Construction Company, Inc. (NASDAQ:STRL) by 57.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 161,065 shares of the construction company’s stock after selling 218,213 shares during the quarter. Wells Fargo & Company MN owned approximately 0.60% of Sterling Construction worth $2,454,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Voya Investment Management LLC bought a new position in Sterling Construction during the 2nd quarter worth $144,000. Cubist Systematic Strategies LLC bought a new position in Sterling Construction during the 2nd quarter worth $194,000. Macquarie Group Ltd. bought a new position in Sterling Construction during the 3rd quarter worth $214,000. Ameriprise Financial Inc. bought a new position in Sterling Construction during the 2nd quarter worth $306,000. Finally, State Board of Administration of Florida Retirement System raised its position in Sterling Construction by 21.2% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 20,677 shares of the construction company’s stock worth $315,000 after purchasing an additional 3,621 shares during the last quarter. 72.06% of the stock is currently owned by institutional investors.
Sterling Construction Company, Inc. (NASDAQ STRL) opened at $15.26 on Monday. Sterling Construction Company, Inc. has a 12-month low of $7.75 and a 12-month 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. The firm has a market capitalization of $412.80, a PE ratio of 305.26, a PEG ratio of 1.42 and a beta of 0.37.
Several research analysts recently issued reports on STRL shares. Zacks Investment Research lowered Sterling Construction from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 4th. BidaskClub lowered Sterling Construction from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, December 5th. Finally, TheStreet raised Sterling Construction from a “c+” rating to a “b-” rating in a research report on Tuesday, December 12th. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $17.00.
In other news, Director Maarten D. Hemsley sold 29,800 shares of Sterling Construction stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $17.32, for a total value of $516,136.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 5.20% of the company’s stock.
TRADEMARK VIOLATION WARNING: “Wells Fargo & Company MN Trims Stake in Sterling Construction Company, Inc. (STRL)” was originally posted by Week Herald and is the sole property of of Week Herald. If you are accessing this report on another domain, it was illegally stolen and reposted in violation of US & international trademark & copyright law. The correct version of this report can be accessed at https://weekherald.com/2018/01/22/wells-fargo-company-mn-has-2-45-million-holdings-in-sterling-construction-company-inc-strl.html.
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.
Receive News & Ratings for Sterling Construction Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sterling Construction and related companies with MarketBeat.com's FREE daily email newsletter.