Hennessy Advisors Inc. Trims Position in Sterling Construction Company Inc (STRL)
Hennessy Advisors Inc. lowered its holdings in Sterling Construction Company Inc (NASDAQ:STRL) by 2.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 429,300 shares of the construction company’s stock after selling 8,600 shares during the quarter. Hennessy Advisors Inc. owned about 1.59% of Sterling Construction worth $5,611,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Wells Fargo & Company MN grew its position in Sterling Construction by 6.4% in the 2nd quarter. Wells Fargo & Company MN now owns 379,278 shares of the construction company’s stock valued at $4,957,000 after purchasing an additional 22,880 shares during the period. JPMorgan Chase & Co. acquired a new stake in Sterling Construction in the 2nd quarter valued at $1,897,000. Chicago Equity Partners LLC acquired a new stake in Sterling Construction in the 2nd quarter valued at $1,646,000. Airain ltd acquired a new stake in Sterling Construction in the 2nd quarter valued at $168,000. Finally, American Century Companies Inc. acquired a new stake in Sterling Construction in the 2nd quarter valued at $328,000. 78.39% of the stock is owned by institutional investors and hedge funds.
Several analysts recently issued reports on STRL shares. Canaccord Genuity reissued a “buy” rating and issued a $15.00 price target on shares of Sterling Construction in a research report on Saturday, August 26th. Zacks Investment Research downgraded shares of Sterling Construction from a “buy” rating to a “hold” rating in a research report on Wednesday, July 5th. BidaskClub downgraded shares of Sterling Construction from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. DA Davidson raised shares of Sterling Construction from a “neutral” rating to a “buy” rating and set a $15.00 price target for the company in a research report on Thursday, June 29th. Finally, TheStreet raised shares of Sterling Construction from a “c” rating to a “b-” rating in a research report on Wednesday, August 2nd. One research analyst has rated the stock with a sell rating, two have issued a buy rating and one has given a strong buy rating to the company. Sterling Construction has an average rating of “Buy” and an average target price of $14.00.
In other Sterling Construction news, Director Milton L. Scott sold 15,000 shares of the stock in a transaction on Tuesday, June 20th. The stock was 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 owns 45,307 shares in the company, valued at $481,613.41. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 5.20% of the stock is currently owned by corporate insiders.
Sterling Construction Company Inc (NASDAQ STRL) traded up 1.28% during mid-day trading on Friday, reaching $13.42. 365,325 shares of the company traded hands. The stock’s market capitalization is $362.74 million. The company’s 50-day moving average is $11.46 and its 200-day moving average is $10.63. Sterling Construction Company Inc has a 12-month low of $6.13 and a 12-month high of $14.93.
Sterling Construction (NASDAQ:STRL) last posted its quarterly earnings data on Wednesday, August 2nd. The construction company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.17. The business had revenue of $264.40 million during the quarter, compared to the consensus estimate of $231.42 million. Sterling Construction had a positive return on equity of 0.06% and a negative net margin of 0.33%. The firm’s quarterly revenue was up 39.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.09 earnings per share. Equities analysts predict that Sterling Construction Company Inc will post $0.39 earnings per share for the current fiscal year.
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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.
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