Goldman Sachs Group Inc. purchased a new stake in shares of Sterling Construction Company Inc (NASDAQ:STRL) during the first quarter, Holdings Channel reports. The institutional investor purchased 136,565 shares of the construction company’s stock, valued at approximately $1,263,000.

A number of other large investors have also made changes to their positions in the stock. Dimensional Fund Advisors LP increased its stake in shares of Sterling Construction by 14.7% in the first quarter. Dimensional Fund Advisors LP now owns 1,385,898 shares of the construction company’s stock valued at $12,819,000 after buying an additional 177,239 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Sterling Construction by 11.7% in the first quarter. Renaissance Technologies LLC now owns 1,109,100 shares of the construction company’s stock valued at $10,259,000 after buying an additional 116,100 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Sterling Construction by 10.8% in the first quarter. Vanguard Group Inc. now owns 898,718 shares of the construction company’s stock valued at $8,313,000 after buying an additional 87,436 shares in the last quarter. Pacific Ridge Capital Partners LLC increased its stake in shares of Sterling Construction by 22.0% in the first quarter. Pacific Ridge Capital Partners LLC now owns 546,420 shares of the construction company’s stock valued at $5,054,000 after buying an additional 98,434 shares in the last quarter. Finally, AlphaOne Investment Services LLC increased its stake in shares of Sterling Construction by 14.9% in the first quarter. AlphaOne Investment Services LLC now owns 475,424 shares of the construction company’s stock valued at $4,397,000 after buying an additional 61,824 shares in the last quarter. 74.58% of the stock is owned by institutional investors and hedge funds.

Shares of Sterling Construction Company Inc (STRL) traded down 2.97% on Thursday, hitting $10.77. The company had a trading volume of 100,351 shares. The firm’s market capitalization is $291.11 million. The company has a 50 day moving average price of $12.43 and a 200 day moving average price of $10.35. Sterling Construction Company Inc has a 1-year low of $6.06 and a 1-year high of $14.93.

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

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STRL has been the subject of a number of research reports. TheStreet raised Sterling Construction from a “c” rating to a “b-” rating in a report on Wednesday, August 2nd. Zacks Investment Research raised Sterling Construction from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a report on Thursday, May 11th. BidaskClub downgraded Sterling Construction from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Canaccord Genuity lifted their target price on Sterling Construction from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Thursday, August 3rd. Finally, DA Davidson raised Sterling Construction from a “neutral” rating to a “buy” rating and set a $15.00 target price for the company in a report on Thursday, June 29th. One research analyst has rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Sterling Construction presently has a consensus rating of “Buy” and an average price target of $14.00.

In other Sterling Construction news, Director Milton L. Scott sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, June 20th. The stock was sold at an average price of $10.63, for a total value 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 SEC, which is accessible through this hyperlink. Corporate insiders own 5.20% of the company’s stock.

Sterling Construction Company 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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