Martingale Asset Management L P acquired a new position in shares of Sterling Construction Company Inc (NASDAQ:STRL) in the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 78,752 shares of the construction company’s stock, valued at approximately $1,030,000. Martingale Asset Management L P owned about 0.29% of Sterling Construction at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Sterling Construction by 10.8% during the 1st quarter. Vanguard Group Inc. now owns 898,718 shares of the construction company’s stock worth $8,313,000 after purchasing an additional 87,436 shares during the last quarter. Morgan Stanley increased its position in shares of Sterling Construction by 2,982.3% during the 1st quarter. Morgan Stanley now owns 169,097 shares of the construction company’s stock worth $1,564,000 after purchasing an additional 163,611 shares during the last quarter. Russell Investments Group Ltd. increased its position in shares of Sterling Construction by 14.0% during the 2nd quarter. Russell Investments Group Ltd. now owns 140,085 shares of the construction company’s stock worth $1,830,000 after purchasing an additional 17,160 shares during the last quarter. Hancock Holding Co. acquired a new stake in shares of Sterling Construction during the 1st quarter worth about $181,000. Finally, Chicago Equity Partners LLC acquired a new stake in shares of Sterling Construction during the 2nd quarter worth about $1,646,000. 78.39% of the stock is owned by hedge funds and other institutional investors.

Shares of Sterling Construction Company Inc (STRL) opened at 14.92 on Friday. Sterling Construction Company Inc has a 12 month low of $6.13 and a 12 month high of $15.73. The firm’s market capitalization is $403.29 million. The company’s 50 day moving average price is $11.80 and its 200-day moving average price is $10.92.

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

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

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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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