Renaissance Technologies LLC Increases Position in Sterling Construction Company, Inc. (STRL)

Renaissance Technologies LLC boosted its position in shares of Sterling Construction Company, Inc. (NASDAQ:STRL) by 52.1% during the fourth quarter, Holdings Channel reports. The fund owned 993,000 shares of the company’s stock after buying an additional 340,200 shares during the period. Renaissance Technologies LLC’s holdings in Sterling Construction Company were worth $8,401,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Trexquant Investment LP purchased a new position in Sterling Construction Company during the fourth quarter worth $156,000. ClariVest Asset Management LLC bought a new stake in Sterling Construction Company during the third quarter worth about $158,000. Thompson Davis & CO. Inc. bought a new stake in Sterling Construction Company during the third quarter worth about $164,000. O Shaughnessy Asset Management LLC increased its stake in Sterling Construction Company by 92.1% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 23,841 shares of the company’s stock worth $202,000 after buying an additional 11,428 shares during the period. Finally, Acrospire Investment Management LLC increased its stake in Sterling Construction Company by 249.0% in the third quarter. Acrospire Investment Management LLC now owns 27,781 shares of the company’s stock worth $215,000 after buying an additional 19,820 shares during the period. 68.17% of the stock is currently owned by institutional investors.

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

Shares of Sterling Construction Company, Inc. (NASDAQ:STRL) opened at 9.64 on Monday. The stock’s market cap is $241.49 million. Sterling Construction Company, Inc. has a 12-month low of $4.19 and a 12-month high of $10.92. The company’s 50-day moving average is $9.37 and its 200-day moving average is $8.34.

Sterling Construction Company (NASDAQ:STRL) last released its earnings results on Thursday, March 9th. The company reported ($0.25) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.24) by $0.01. The business earned $168.30 million during the quarter, compared to analysts’ expectations of $167.87 million. Sterling Construction Company had a positive return on equity of 14.34% and a negative net margin of 0.60%. The firm’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.06) earnings per share. On average, equities research analysts anticipate that Sterling Construction Company, Inc. will post $0.20 earnings per share for the current year.

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A number of research firms recently issued reports on STRL. Zacks Investment Research downgraded shares of Sterling Construction Company from a “buy” rating to a “hold” rating in a report on Thursday, March 16th. DA Davidson restated a “neutral” rating on shares of Sterling Construction Company in a report on Thursday, February 9th. Finally, Canaccord Genuity began coverage on shares of Sterling Construction Company in a report on Tuesday, January 10th. They set a “buy” rating and a $10.00 price objective for the company. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Sterling Construction Company currently has a consensus rating of “Hold” and an average target price of $8.15.

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.

5 Day Chart for NASDAQ:STRL

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