Russell Investments Group Ltd. Acquires 17,160 Shares of Sterling Construction Company Inc (STRL)
Russell Investments Group Ltd. raised its holdings in Sterling Construction Company Inc (NASDAQ:STRL) by 14.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 140,085 shares of the construction company’s stock after purchasing an additional 17,160 shares during the period. Russell Investments Group Ltd. owned 0.52% of Sterling Construction worth $1,830,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Highbridge Capital Management LLC purchased a new stake in shares of Sterling Construction in the first quarter valued at about $150,000. Citadel Advisors LLC lifted its holdings in shares of Sterling Construction by 63.6% in the first quarter. Citadel Advisors LLC now owns 17,205 shares of the construction company’s stock valued at $159,000 after purchasing an additional 6,691 shares in the last quarter. Hancock Holding Co. purchased a new stake in shares of Sterling Construction in the first quarter valued at about $181,000. Trexquant Investment LP lifted its holdings in shares of Sterling Construction by 8.1% in the first quarter. Trexquant Investment LP now owns 19,977 shares of the construction company’s stock valued at $185,000 after purchasing an additional 1,489 shares in the last quarter. Finally, BlueCrest Capital Management Ltd purchased a new stake in shares of Sterling Construction in the first quarter valued at about $203,000. 78.39% of the stock is currently owned by institutional investors.
Several brokerages have issued reports on STRL. Canaccord Genuity reaffirmed a “buy” rating and issued a $15.00 price target on shares of Sterling Construction in a report on Wednesday, August 9th. TheStreet lowered shares of Sterling Construction from a “b-” rating to a “c” rating in a research report on Monday, August 21st. BidaskClub lowered shares of Sterling Construction from a “hold” rating to a “sell” rating in a research report on Friday, August 18th. Zacks Investment Research raised shares of Sterling Construction from a “hold” rating to a “strong-buy” rating and set a $12.00 price objective for the company in a research report on Tuesday, August 8th. Finally, DA Davidson raised 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 report on Thursday, June 29th. One equities research analyst has rated the stock with a sell rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $14.00.
Sterling Construction Company Inc (NASDAQ STRL) traded up 0.79% during trading on Wednesday, hitting $12.79. 240,760 shares of the stock were exchanged. Sterling Construction Company Inc has a 12-month low of $6.13 and a 12-month high of $14.93. The stock’s 50-day moving average price is $11.48 and its 200-day moving average price is $10.57. The firm’s market cap is $345.71 million.
Sterling Construction (NASDAQ:STRL) last announced its earnings results on Wednesday, August 2nd. The construction company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.06 by $0.17. Sterling Construction had a negative net margin of 0.33% and a positive return on equity of 0.06%. The company had revenue of $264.40 million during the quarter, compared to analysts’ expectations of $231.42 million. During the same period last year, the company posted $0.09 earnings per share. The business’s revenue for the quarter was up 39.5% on a year-over-year basis. On average, equities analysts expect that Sterling Construction Company Inc will post $0.39 EPS for the current year.
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In other Sterling Construction news, Director Milton L. Scott sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, June 20th. The shares were sold at an average price of $10.63, for a total value of $159,450.00. Following the completion of the transaction, the director now directly owns 45,307 shares in the company, valued at $481,613.41. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 5.20% of the company’s stock.
About Sterling Construction
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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