Brandes Investment Partners LP lowered its position in Sterling Construction Company, Inc. (NASDAQ:STRL) by 0.1% during the first quarter, Holdings Channel reports. The institutional investor owned 183,160 shares of the construction company’s stock after selling 150 shares during the period. Brandes Investment Partners LP owned 0.73% of Sterling Construction Company worth $1,695,000 as of its most recent filing with the SEC.
Other hedge funds also recently bought and sold shares of the company. Hennessy Advisors Inc. bought a new stake in Sterling Construction Company during the first quarter worth $4,051,000. AlphaOne Investment Services LLC bought a new stake in Sterling Construction Company during the fourth quarter worth $3,499,000. Renaissance Technologies LLC raised its stake in Sterling Construction Company by 52.1% in the fourth quarter. Renaissance Technologies LLC now owns 993,000 shares of the construction company’s stock worth $8,401,000 after buying an additional 340,200 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Sterling Construction Company by 23.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,208,659 shares of the construction company’s stock worth $10,225,000 after buying an additional 232,453 shares in the last quarter. Finally, Signia Capital Management LLC raised its stake in Sterling Construction Company by 44.5% in the fourth quarter. Signia Capital Management LLC now owns 721,187 shares of the construction company’s stock worth $6,101,000 after buying an additional 222,258 shares in the last quarter. Institutional investors own 68.17% of the company’s stock.
Shares of Sterling Construction Company, Inc. (NASDAQ:STRL) traded down 0.39% during trading on Friday, hitting $10.30. The stock had a trading volume of 182,089 shares. The stock’s 50 day moving average price is $9.68 and its 200-day moving average price is $8.94. Sterling Construction Company, Inc. has a one year low of $4.37 and a one year high of $11.30. The stock’s market cap is $277.86 million.
Sterling Construction Company (NASDAQ:STRL) last announced its quarterly earnings results on Thursday, March 9th. The construction company reported ($0.25) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.24) by $0.01. Sterling Construction Company had a positive return on equity of 14.34% and a negative net margin of 0.60%. The company had revenue of $168.30 million for the quarter, compared to analyst estimates of $167.87 million. During the same quarter in the prior year, the business earned ($0.06) earnings per share. Sterling Construction Company’s revenue was up 10.4% compared to the same quarter last year. Analysts expect that Sterling Construction Company, Inc. will post $0.36 earnings per share for the current fiscal year.
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STRL has been the subject of a number of analyst reports. Zacks Investment Research lowered Sterling Construction Company from a “buy” rating to a “hold” rating in a report on Thursday, March 16th. Canaccord Genuity reaffirmed a “buy” rating and set a $12.00 price target on shares of Sterling Construction Company in a research report on Tuesday, March 28th. Finally, DA Davidson reaffirmed a “neutral” rating on shares of Sterling Construction Company in a research report on Thursday, February 9th.
About Sterling Construction Company
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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