Systematic Financial Management LP trimmed its holdings in Sterling Construction Company, Inc. (NASDAQ:STRL) by 15.6% in the first quarter, Holdings Channel reports. The institutional investor owned 69,545 shares of the construction company’s stock after selling 12,835 shares during the quarter. Systematic Financial Management LP’s holdings in Sterling Construction were worth $871,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of STRL. BlackRock Inc. boosted its holdings in Sterling Construction by 4.5% in the third quarter. BlackRock Inc. now owns 2,020,455 shares of the construction company’s stock worth $28,933,000 after purchasing an additional 86,589 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Sterling Construction by 22.1% in the third quarter. JPMorgan Chase & Co. now owns 160,069 shares of the construction company’s stock worth $2,292,000 after purchasing an additional 28,953 shares during the last quarter. MetLife Investment Advisors LLC boosted its holdings in Sterling Construction by 54.3% in the third quarter. MetLife Investment Advisors LLC now owns 20,440 shares of the construction company’s stock worth $293,000 after purchasing an additional 7,194 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in Sterling Construction in the fourth quarter worth approximately $1,561,000. Finally, New York State Teachers Retirement System purchased a new stake in Sterling Construction in the fourth quarter worth approximately $26,000. Institutional investors and hedge funds own 81.72% of the company’s stock.
Several equities research analysts recently issued reports on STRL shares. Zacks Investment Research cut shares of Sterling Construction from a “hold” rating to a “sell” rating in a report on Friday, March 8th. BidaskClub cut shares of Sterling Construction from a “buy” rating to a “hold” rating in a research note on Thursday, March 7th. Finally, ValuEngine cut shares of Sterling Construction from a “buy” rating to a “hold” rating in a research note on Thursday, March 14th. 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 company. The company presently has a consensus rating of “Hold” and a consensus price target of $17.50.
Shares of Sterling Construction stock traded up $0.13 on Tuesday, hitting $12.21. 271 shares of the company’s stock were exchanged, compared to its average volume of 179,375. The stock has a market capitalization of $317.26 million, a PE ratio of 13.10, a P/E/G ratio of 0.97 and a beta of 1.05. Sterling Construction Company, Inc. has a 1 year low of $9.71 and a 1 year high of $16.07. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.66 and a quick ratio of 1.64.
Sterling Construction (NASDAQ:STRL) last issued its quarterly earnings results on Monday, May 6th. The construction company reported $0.07 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.13 by ($0.06). The business had revenue of $223.90 million for the quarter, compared to analysts’ expectations of $225.85 million. Sterling Construction had a return on equity of 14.67% and a net margin of 2.36%. The company’s revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.09 EPS. As a group, research analysts anticipate that Sterling Construction Company, Inc. will post 1.13 EPS 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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