Rice Hall James & Associates LLC decreased its stake in Sterling Construction Company Inc (NASDAQ:STRL) by 5.7% during the second quarter, Holdings Channel reports. The institutional investor owned 230,944 shares of the construction company’s stock after selling 13,962 shares during the period. Rice Hall James & Associates LLC’s holdings in Sterling Construction were worth $3,018,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in STRL. Campbell & CO Investment Adviser LLC acquired a new stake in Sterling Construction during the second quarter valued at about $143,000. Highbridge Capital Management LLC acquired a new stake in Sterling Construction during the first quarter valued at about $150,000. Citadel Advisors LLC boosted its stake in Sterling Construction by 63.6% in the first quarter. Citadel Advisors LLC now owns 17,205 shares of the construction company’s stock valued at $159,000 after buying an additional 6,691 shares in the last quarter. Hancock Holding Co. acquired a new stake in Sterling Construction during the first quarter valued at about $181,000. Finally, Trexquant Investment LP boosted its stake in Sterling Construction by 8.1% in the first quarter. Trexquant Investment LP now owns 19,977 shares of the construction company’s stock valued at $185,000 after buying an additional 1,489 shares in the last quarter. Hedge funds and other institutional investors own 74.58% of the company’s stock.

Sterling Construction Company Inc (STRL) opened at 10.36 on Friday. The firm’s 50-day moving average price is $12.42 and its 200 day moving average price is $10.36. Sterling Construction Company Inc has a 12-month low of $6.13 and a 12-month high of $14.93. The stock’s market cap is $280.03 million.

Sterling Construction (NASDAQ:STRL) last released its quarterly earnings results on Wednesday, August 2nd. The construction company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.17. The company had revenue of $264.40 million during the quarter, compared to analysts’ expectations of $231.42 million. Sterling Construction had a positive return on equity of 0.06% and a negative net margin of 0.33%. Sterling Construction’s quarterly revenue was up 39.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.09 EPS. Analysts anticipate that Sterling Construction Company Inc will post $0.39 EPS for the current year.

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Several research firms recently issued reports on STRL. Canaccord Genuity reiterated a “buy” rating and set a $15.00 target price on shares of Sterling Construction in a research report on Wednesday. TheStreet upgraded Sterling Construction from a “c” rating to a “b-” rating in a research report on Wednesday, August 2nd. BidaskClub cut Sterling Construction from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Zacks Investment Research upgraded Sterling Construction from a “hold” rating to a “strong-buy” rating and set a $12.00 target price for the company in a research report on Tuesday, August 8th. Finally, DA Davidson upgraded Sterling Construction from a “neutral” rating to a “buy” rating and set a $15.00 target price for the company in a research report on Thursday, June 29th. One analyst has rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $14.00.

In other Sterling Construction news, Director Milton L. Scott sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 20th. The stock was sold at an average price of $10.63, for a total transaction of $159,450.00. Following the completion of the sale, the director now directly owns 45,307 shares in the company, valued at approximately $481,613.41. The transaction was disclosed in a document filed with the SEC, which is available through this link. 5.20% of the stock is currently owned by insiders.

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

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