Airain ltd bought a new stake in Sterling Construction Company Inc (NASDAQ:STRL) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 12,863 shares of the construction company’s stock, valued at approximately $168,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. American Century Companies Inc. purchased a new stake in Sterling Construction in the second quarter valued at approximately $328,000. Bank of New York Mellon Corp grew its stake in shares of Sterling Construction by 409.3% in the second quarter. Bank of New York Mellon Corp now owns 125,747 shares of the construction company’s stock worth $1,644,000 after acquiring an additional 101,057 shares in the last quarter. Rhumbline Advisers acquired a new position in shares of Sterling Construction in the second quarter worth $371,000. Schwab Charles Investment Management Inc. acquired a new position in shares of Sterling Construction in the second quarter worth $560,000. Finally, Trexquant Investment LP grew its stake in shares of Sterling Construction by 41.2% in the second quarter. Trexquant Investment LP now owns 28,203 shares of the construction company’s stock worth $369,000 after acquiring an additional 8,226 shares in the last quarter. 78.39% of the stock is currently owned by institutional investors.

STRL has been the subject of several research reports. Canaccord Genuity restated a “buy” rating and issued a $15.00 price target on shares of Sterling Construction in a research note on Saturday, August 26th. Zacks Investment Research downgraded shares of Sterling Construction from a “buy” rating to a “hold” rating in a research note on Wednesday, July 5th. BidaskClub downgraded shares of Sterling Construction from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. DA Davidson upgraded shares of Sterling Construction from a “neutral” rating to a “buy” rating and set a $15.00 price target for the company in a research note on Thursday, June 29th. Finally, TheStreet upgraded shares of Sterling Construction from a “c” rating to a “b-” rating in a research note on Wednesday, August 2nd. One investment analyst has rated the stock with a sell rating, two have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $14.00.

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In related news, Director Milton L. Scott sold 15,000 shares of Sterling Construction stock in a transaction on Tuesday, June 20th. The shares were sold at an average price of $10.63, for a total transaction of $159,450.00. Following the sale, the director now owns 45,307 shares of the company’s stock, valued at approximately $481,613.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 5.20% of the company’s stock.

Sterling Construction Company Inc (NASDAQ:STRL) opened at 14.33 on Tuesday. The firm’s market cap is $387.34 million. Sterling Construction Company Inc has a 1-year low of $6.13 and a 1-year high of $14.93. The firm has a 50 day moving average of $11.42 and a 200 day moving average of $10.65.

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

About Sterling Construction

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.

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

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