Bank of New York Mellon Corp Acquires 13,154 Shares of Sterling Construction Company, Inc. (STRL)

Bank of New York Mellon Corp boosted its holdings in shares of Sterling Construction Company, Inc. (NASDAQ:STRL) by 7.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 196,892 shares of the construction company’s stock after acquiring an additional 13,154 shares during the period. Bank of New York Mellon Corp owned 0.73% of Sterling Construction worth $2,144,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. lifted its position in Sterling Construction by 4.5% during the 3rd quarter. BlackRock Inc. now owns 2,020,455 shares of the construction company’s stock valued at $28,933,000 after acquiring an additional 86,589 shares during the period. Malaga Cove Capital LLC purchased a new position in Sterling Construction during the 4th quarter valued at about $223,000. Koshinski Asset Management Inc. lifted its position in Sterling Construction by 27.2% during the 3rd quarter. Koshinski Asset Management Inc. now owns 21,288 shares of the construction company’s stock valued at $305,000 after acquiring an additional 4,555 shares during the period. JPMorgan Chase & Co. lifted its position in Sterling Construction by 22.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 160,069 shares of the construction company’s stock valued at $2,292,000 after acquiring an additional 28,953 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in Sterling Construction by 1.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,646,543 shares of the construction company’s stock valued at $23,578,000 after acquiring an additional 22,658 shares during the period. 80.31% of the stock is owned by institutional investors.

STRL has been the subject of a number of recent research reports. ValuEngine raised shares of Sterling Construction from a “sell” rating to a “hold” rating in a research report on Wednesday, January 2nd. BidaskClub raised shares of Sterling Construction from a “sell” rating to a “hold” rating in a research report on Wednesday, January 2nd. Finally, Zacks Investment Research raised shares of Sterling Construction from a “sell” rating to a “hold” rating in a research report on Wednesday, January 9th. One analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $17.50.

NASDAQ:STRL opened at $13.75 on Monday. The stock has a market cap of $363.33 million, a price-to-earnings ratio of 14.78, a PEG ratio of 1.08 and a beta of 1.04. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.69 and a quick ratio of 1.67. Sterling Construction Company, Inc. has a fifty-two week low of $9.71 and a fifty-two week high of $16.07.

Sterling Construction (NASDAQ:STRL) last released its quarterly earnings data on Monday, March 4th. The construction company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.02. The business had revenue of $255.18 million during the quarter, compared to analyst estimates of $247.85 million. Sterling Construction had a net margin of 2.43% and a return on equity of 15.44%. Equities research analysts expect that Sterling Construction Company, Inc. will post 1.15 earnings per share for the current year.

COPYRIGHT VIOLATION NOTICE: This news story was posted by Baseball Daily News and is owned by of Baseball Daily News. If you are reading this news story on another domain, it was illegally copied and reposted in violation of US & international trademark and copyright law. The legal version of this news story can be accessed at https://www.baseballdailydigest.com/news/2019/04/22/bank-of-new-york-mellon-corp-acquires-13154-shares-of-sterling-construction-company-inc-strl.html.

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.

Recommended Story: How to Trade Using Analysts Ratings

Want to see what other hedge funds are holding STRL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sterling Construction Company, Inc. (NASDAQ:STRL).

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

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.