Allianz Asset Management GmbH grew its position in shares of Sterling Construction Company Inc (NASDAQ:STRL) by 354.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 295,272 shares of the construction company’s stock after buying an additional 230,272 shares during the quarter. Allianz Asset Management GmbH owned 1.09% of Sterling Construction worth $4,497,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of STRL. Vanguard Group Inc. lifted its position in Sterling Construction by 10.8% during the first quarter. Vanguard Group Inc. now owns 898,718 shares of the construction company’s stock valued at $8,313,000 after purchasing an additional 87,436 shares during the period. Russell Investments Group Ltd. lifted its position in Sterling Construction by 14.0% during the second quarter. Russell Investments Group Ltd. now owns 140,085 shares of the construction company’s stock valued at $1,830,000 after purchasing an additional 17,160 shares during the period. Morgan Stanley lifted its position in Sterling Construction by 2,982.3% during the first quarter. Morgan Stanley now owns 169,097 shares of the construction company’s stock valued at $1,564,000 after purchasing an additional 163,611 shares during the period. Citadel Advisors LLC lifted its position in Sterling Construction by 84.3% during the second quarter. Citadel Advisors LLC now owns 31,713 shares of the construction company’s stock valued at $414,000 after purchasing an additional 14,508 shares during the period. Finally, Cornerstone Capital Management Holdings LLC. lifted its position in Sterling Construction by 43.3% during the second quarter. Cornerstone Capital Management Holdings LLC. now owns 45,700 shares of the construction company’s stock valued at $596,000 after purchasing an additional 13,800 shares during the period. Hedge funds and other institutional investors own 71.91% of the company’s stock.

Sterling Construction Company Inc (NASDAQ:STRL) opened at $16.97 on Thursday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.44 and a quick ratio of 1.42. Sterling Construction Company Inc has a 52-week low of $7.75 and a 52-week high of $18.90. The firm has a market cap of $471.50, a P/E ratio of 116.20, a price-to-earnings-growth ratio of 3.56 and a beta of 0.36.

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

In other Sterling Construction news, Director Maarten D. Hemsley sold 29,800 shares of the stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $17.32, for a total value of $516,136.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 5.20% of the stock is currently owned by company insiders.

A number of research analysts recently weighed in on STRL shares. Canaccord Genuity restated 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 shares of Sterling Construction from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 4th. BidaskClub downgraded shares of Sterling Construction from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, December 5th. Finally, TheStreet upgraded shares of Sterling Construction from a “c+” rating to a “b-” rating in a research report on Tuesday, December 12th. One analyst has rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $17.00.

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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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