Wells Fargo & Company MN reduced its position in shares of Sterling Construction Company, Inc. (NASDAQ:STRL) by 57.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 161,065 shares of the construction company’s stock after selling 218,213 shares during the quarter. Wells Fargo & Company MN’s holdings in Sterling Construction were worth $2,454,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Voya Investment Management LLC acquired a new position in Sterling Construction during the 2nd quarter worth approximately $144,000. Macquarie Group Ltd. acquired a new position in Sterling Construction during the 3rd quarter worth approximately $214,000. Cubist Systematic Strategies LLC acquired a new position in Sterling Construction during the 2nd quarter worth approximately $194,000. State Board of Administration of Florida Retirement System raised its stake in Sterling Construction by 21.2% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 20,677 shares of the construction company’s stock worth $315,000 after buying an additional 3,621 shares during the period. Finally, Cavalier Investments LLC acquired a new position in Sterling Construction during the 3rd quarter worth approximately $335,000. 71.91% of the stock is currently owned by institutional investors and hedge funds.

Shares of Sterling Construction Company, Inc. (STRL) opened at $16.43 on Monday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.42 and a current ratio of 1.44. The company has a market capitalization of $444.45, a P/E ratio of 328.67, a price-to-earnings-growth ratio of 1.53 and a beta of 0.37. Sterling Construction Company, Inc. has a twelve month low of $7.75 and a twelve month high of $18.90.

Sterling Construction (NASDAQ:STRL) last issued its quarterly earnings data on Monday, October 30th. The construction company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.04. The firm had revenue of $304.20 million during the quarter, compared to analyst estimates of $263.69 million. Sterling Construction had a return on equity of 3.90% and a net margin of 0.25%. The company’s revenue for the quarter was up 48.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.10 EPS. sell-side analysts predict that Sterling Construction Company, Inc. will post 0.44 earnings per share for the current fiscal year.

A number of research analysts recently weighed in on STRL shares. Zacks Investment Research downgraded Sterling Construction from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 4th. BidaskClub downgraded Sterling Construction from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, December 5th. Finally, TheStreet raised Sterling Construction from a “c+” rating to a “b-” rating in a research note on Tuesday, December 12th. One analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $17.00.

In other Sterling Construction news, Director Maarten D. Hemsley sold 29,800 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $17.32, for a total transaction of $516,136.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 5.20% of the company’s stock.

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Sterling Construction 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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