Acadian Asset Management LLC raised its stake in Sterling Construction Co. (NASDAQ:STRL) by 16.3% during the second quarter, Holdings Channel reports. The fund owned 169,843 shares of the company’s stock after buying an additional 23,833 shares during the period. Acadian Asset Management LLC owned about 0.86% of Sterling Construction worth $834,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Jacobs Levy Equity Management Inc. boosted its position in Sterling Construction by 574.5% in the first quarter. Jacobs Levy Equity Management Inc. now owns 86,332 shares of the company’s stock valued at $445,000 after buying an additional 73,532 shares during the last quarter. Spark Investment Management LLC purchased a new stake in Sterling Construction during the first quarter worth $115,000. Adirondack Research & Management Inc. boosted its stake in Sterling Construction by 2.2% in the first quarter. Adirondack Research & Management Inc. now owns 903,078 shares of the company’s stock worth $4,651,000 after buying an additional 19,331 shares in the last quarter. Foundry Partners LLC boosted its stake in Sterling Construction by 0.3% in the second quarter. Foundry Partners LLC now owns 610,925 shares of the company’s stock worth $3,000,000 after buying an additional 1,775 shares in the last quarter. Finally, Willis Investment Counsel boosted its stake in 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. Institutional investors own 66.29% of the company’s stock.

Shares of Sterling Construction Co. (NASDAQ:STRL) traded down 1.26% during midday trading on Friday, reaching $7.08. The company’s stock had a trading volume of 155,212 shares. The stock’s market capitalization is $177.01 million. The stock’s 50 day moving average is $6.34 and its 200 day moving average is $5.40. Sterling Construction Co. has a 12 month low of $3.69 and a 12 month high of $7.34.

Sterling Construction (NASDAQ:STRL) last posted its quarterly earnings results on Monday, August 1st. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.10 by $0.01. Sterling Construction had a negative net margin of 0.96% and a positive return on equity of 12.00%. The company had revenue of $189.60 million for the quarter, compared to analysts’ expectations of $189.83 million. During the same quarter in the prior year, the firm earned ($0.13) earnings per share. The company’s revenue was up 6.9% on a year-over-year basis. On average, analysts forecast that Sterling Construction Co. will post $0.11 EPS for the current fiscal year.

A number of equities research analysts recently weighed in on the company. Zacks Investment Research cut Sterling Construction from a “hold” rating to a “sell” rating in a 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 report on Monday, September 12th. Finally, Maxim Group lowered their price target on Sterling Construction from $8.00 to $6.00 and set a “buy” rating on the stock in a report on Wednesday, May 25th.

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.

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