According to Zacks, “Sterling Construction Company, Inc. is a holding company which has historically operated as a wholesale distributor to the automotive aftermarket and construction through two subsidiaries, Steel City Products and Dowling’s Fleet Service. “
Separately, DA Davidson set a $9.00 price objective on shares of Sterling Construction and gave the company a buy rating in a report on Monday, September 12th.
Sterling Construction (NASDAQ:STRL) last posted its quarterly earnings data on Monday, August 1st. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by $0.01. The company earned $189.60 million during the quarter, compared to the consensus estimate of $189.83 million. Sterling Construction had a negative net margin of 0.96% and a positive return on equity of 12.00%. The company’s revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the business earned ($0.13) earnings per share.
Hedge funds have recently added to or reduced their stakes in the stock. Advisory Research Inc. acquired a new stake in Sterling Construction during the second quarter valued at approximately $197,000. Parametric Portfolio Associates LLC raised its stake in Sterling Construction by 358.5% in the second quarter. Parametric Portfolio Associates LLC now owns 141,420 shares of the company’s stock valued at $694,000 after buying an additional 110,579 shares in the last quarter. Spark Investment Management LLC raised its stake in Sterling Construction by 81.7% in the second quarter. Spark Investment Management LLC now owns 40,700 shares of the company’s stock valued at $199,000 after buying an additional 18,300 shares in the last quarter. Wall Street Associates acquired a new stake in Sterling Construction during the second quarter valued at approximately $1,550,000. Finally, Willis Investment Counsel raised its stake in Sterling Construction by 1.2% in the second quarter. Willis Investment Counsel now owns 286,666 shares of the company’s stock valued at $1,408,000 after buying an additional 3,350 shares in the last quarter. 66.29% of the stock is owned by institutional investors and hedge funds.
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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