Essex Investment Management Co. LLC Has $353,000 Stake in Sterling Construction Co. (STRL)
Essex Investment Management Co. LLC decreased its position in Sterling Construction Co. (NASDAQ:STRL) by 0.9% during the second quarter, Holdings Channel reports. The institutional investor owned 71,930 shares of the company’s stock after selling 683 shares during the period. Essex Investment Management Co. LLC’s holdings in Sterling Construction were worth $353,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of the company. Spark Investment Management LLC purchased a new stake in shares of Sterling Construction during the first quarter worth approximately $115,000. Jacobs Levy Equity Management Inc. boosted its stake in shares of Sterling Construction by 574.5% in the first quarter. Jacobs Levy Equity Management Inc. now owns 86,332 shares of the company’s stock worth $445,000 after buying an additional 73,532 shares in the last quarter. Acadian Asset Management LLC boosted its stake in shares of Sterling Construction by 16.3% in the second quarter. Acadian Asset Management LLC now owns 169,843 shares of the company’s stock worth $834,000 after buying an additional 23,833 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Sterling Construction by 40.2% in the first quarter. Renaissance Technologies LLC now owns 264,000 shares of the company’s stock worth $1,360,000 after buying an additional 75,700 shares in the last quarter. Finally, Willis Investment Counsel boosted its stake in shares of Sterling Construction by 1.2% in the first quarter. Willis Investment Counsel now owns 283,316 shares of the company’s stock worth $1,459,000 after buying an additional 3,400 shares in the last quarter. 66.29% of the stock is owned by institutional investors.
Sterling Construction Co. (NASDAQ:STRL) traded down 0.74% during trading on Friday, hitting $8.10. The company’s stock had a trading volume of 136,983 shares. The firm’s market cap is $202.52 million. The company has a 50-day moving average of $7.07 and a 200 day moving average of $5.69. Sterling Construction Co. has a one year low of $3.69 and a one year high of $8.25.
Sterling Construction (NASDAQ:STRL) last posted its quarterly earnings data on Monday, August 1st. The company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by $0.01. Sterling Construction had a positive return on equity of 12.00% and a negative net margin of 0.96%. The company had revenue of $189.60 million for the quarter, compared to analysts’ expectations of $189.83 million. During the same period in the prior year, the company posted ($0.13) EPS. The firm’s revenue was up 6.9% compared to the same quarter last year. On average, equities analysts forecast that Sterling Construction Co. will post $0.16 earnings per share for the current year.
A number of brokerages have commented on STRL. Zacks Investment Research cut Sterling Construction from a “hold” rating to a “sell” rating in a research report on Thursday, August 4th. DA Davidson set a $9.00 price target on Sterling Construction and gave the stock a “buy” rating in a research report on Monday, September 12th.
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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