Advisory Services Network LLC cut its stake in Sterling Construction Company, Inc. (NASDAQ:STRL) by 26.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,664 shares of the construction company’s stock after selling 2,000 shares during the quarter. Advisory Services Network LLC’s holdings in Sterling Construction were worth $71,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Macquarie Group Ltd. boosted its holdings in Sterling Construction by 111.1% during the fourth quarter. Macquarie Group Ltd. now owns 3,800 shares of the construction company’s stock valued at $41,000 after acquiring an additional 2,000 shares during the period. Meeder Asset Management Inc. acquired a new stake in shares of Sterling Construction during the first quarter worth approximately $58,000. BNP Paribas Arbitrage SA increased its holdings in shares of Sterling Construction by 728.5% during the first quarter. BNP Paribas Arbitrage SA now owns 5,559 shares of the construction company’s stock worth $70,000 after buying an additional 4,888 shares in the last quarter. Citigroup Inc. increased its holdings in shares of Sterling Construction by 17.6% in the fourth quarter. Citigroup Inc. now owns 8,617 shares of the construction company’s stock valued at $94,000 after purchasing an additional 1,292 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of Sterling Construction in the first quarter valued at approximately $109,000. 82.53% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts recently weighed in on STRL shares. ValuEngine lowered shares of Verso from a “hold” rating to a “sell” rating in a report on Thursday, May 23rd. BidaskClub lowered shares of Weyco Group from a “sell” rating to a “strong sell” rating in a report on Saturday, July 13th. Finally, Zacks Investment Research lowered shares of Haynes International from a “hold” rating to a “sell” rating in a report on Wednesday, May 8th.
STRL stock traded up $0.04 during midday trading on Friday, reaching $12.13. The company’s stock had a trading volume of 98,400 shares, compared to its average volume of 172,460. Sterling Construction Company, Inc. has a 52 week low of $9.71 and a 52 week high of $16.07. The stock has a market capitalization of $330.73 million, a PE ratio of 13.04, a PEG ratio of 1.01 and a beta of 1.12. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.64 and a current ratio of 1.66. The stock’s 50-day moving average price is $13.18.
Sterling Construction (NASDAQ:STRL) last announced its quarterly earnings data on Monday, May 6th. The construction company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.06). Sterling Construction had a net margin of 2.36% and a return on equity of 14.67%. The business had revenue of $223.90 million during the quarter, compared to the consensus estimate of $225.85 million. During the same period in the previous year, the business posted $0.09 earnings per share. Sterling Construction’s revenue was up .6% compared to the same quarter last year. Analysts predict that Sterling Construction Company, Inc. will post 1.13 earnings per share for the current year.
About Sterling Construction
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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