Bank of New York Mellon Corp reduced its position in Sterling Construction Company, Inc. (NASDAQ:STRL) by 3.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 177,483 shares of the construction company’s stock after selling 6,031 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.63% of Sterling Construction worth $1,860,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Berman Capital Advisors LLC bought a new position in Sterling Construction during the second quarter valued at $31,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Sterling Construction by 134.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,758 shares of the construction company’s stock worth $60,000 after buying an additional 3,305 shares during the period. BNP Paribas Arbitrage SA increased its stake in Sterling Construction by 39.9% in the 1st quarter. BNP Paribas Arbitrage SA now owns 8,011 shares of the construction company’s stock worth $76,000 after buying an additional 2,286 shares during the period. Squarepoint Ops LLC purchased a new position in Sterling Construction in the 1st quarter worth about $114,000. Finally, Alliancebernstein L.P. purchased a new position in Sterling Construction in the 1st quarter worth about $135,000. Institutional investors and hedge funds own 80.55% of the company’s stock.

STRL opened at $13.78 on Monday. Sterling Construction Company, Inc. has a 12-month low of $6.72 and a 12-month high of $17.49. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 1.56. The firm has a market capitalization of $386.78 million, a PE ratio of 7.45 and a beta of 1.36. The firm has a 50 day moving average of $14.13 and a two-hundred day moving average of $10.59.

Sterling Construction (NASDAQ:STRL) last posted its quarterly earnings results on Monday, August 3rd. The construction company reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.34. Sterling Construction had a net margin of 3.86% and a return on equity of 17.58%. The company had revenue of $400.04 million during the quarter, compared to analyst estimates of $343.70 million. As a group, analysts predict that Sterling Construction Company, Inc. will post 1.5 EPS for the current fiscal year.

Several research analysts recently commented on the stock. BidaskClub downgraded shares of Sterling Construction from a “buy” rating to a “hold” rating in a research note on Tuesday, September 15th. Zacks Investment Research raised shares of Sterling Construction from a “hold” rating to a “strong-buy” rating and set a $16.00 target price on the stock in a research report on Saturday, August 8th. Finally, TheStreet raised shares of Sterling Construction from a “c+” rating to a “b-” rating in a research report on Thursday, September 3rd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $15.50.

About Sterling Construction

Sterling Construction Company, Inc, together with its subsidiaries, operates as a heavy civil and residential construction company in Arizona, California, Colorado, Hawaii, Nevada, Texas, Utah, and other states in the United States. The company's Heavy Civil Construction segment undertakes heavy civil construction projects, including highways, roads, bridges, airfields, ports, light rail, water, wastewater and storm drainage systems, foundations for multi-family homes, commercial concrete projects, and parking structures.

Read More: Beige Book

Want to see what other hedge funds are holding STRL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sterling Construction Company, Inc. (NASDAQ:STRL).

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

Receive News & Ratings for Sterling Construction Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sterling Construction and related companies with MarketBeat.com's FREE daily email newsletter.