Assenagon Asset Management S.A. Sells 130,642 Shares of Sterling Construction Company, Inc. (NASDAQ:STRL)

Assenagon Asset Management S.A. lowered its position in shares of Sterling Construction Company, Inc. (NASDAQ:STRL) by 56.9% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 99,158 shares of the construction company’s stock after selling 130,642 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Sterling Construction were worth $1,304,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently bought and sold shares of STRL. WINTON GROUP Ltd lifted its holdings in shares of Sterling Construction by 13.1% in the second quarter. WINTON GROUP Ltd now owns 13,064 shares of the construction company’s stock valued at $175,000 after purchasing an additional 1,517 shares in the last quarter. Dalton Greiner Hartman Maher & Co. lifted its holdings in shares of Sterling Construction by 27.5% in the second quarter. Dalton Greiner Hartman Maher & Co. now owns 598,124 shares of the construction company’s stock valued at $8,027,000 after purchasing an additional 129,182 shares in the last quarter. Campbell & CO Investment Adviser LLC lifted its holdings in shares of Sterling Construction by 83.0% in the second quarter. Campbell & CO Investment Adviser LLC now owns 36,381 shares of the construction company’s stock valued at $488,000 after purchasing an additional 16,498 shares in the last quarter. Bessemer Group Inc. bought a new stake in shares of Sterling Construction in the second quarter valued at about $262,000. Finally, Bowling Portfolio Management LLC increased its position in shares of Sterling Construction by 16.2% in the second quarter. Bowling Portfolio Management LLC now owns 100,738 shares of the construction company’s stock valued at $1,352,000 after acquiring an additional 14,034 shares during the last quarter. 83.74% of the stock is currently owned by hedge funds and other institutional investors.

A number of research firms recently issued reports on STRL. Zacks Investment Research raised Sterling Construction from a “sell” rating to a “buy” rating and set a $18.00 target price on the stock in a research report on Tuesday, October 15th. DA Davidson lifted their target price on Sterling Construction from $18.00 to $25.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. ValuEngine downgraded Sterling Construction from a “sell” rating to a “strong sell” rating in a research report on Tuesday, October 8th. Finally, BidaskClub raised Sterling Construction from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, September 25th.

NASDAQ:STRL opened at $16.38 on Monday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.54 and a current ratio of 1.56. The stock’s 50-day simple moving average is $13.25 and its 200 day simple moving average is $12.77. The company has a market cap of $420.82 million, a P/E ratio of 17.61 and a beta of 1.17. Sterling Construction Company, Inc. has a 52-week low of $9.71 and a 52-week high of $16.60.

Sterling Construction (NASDAQ:STRL) last released its earnings results on Monday, August 5th. The construction company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.03). The company had revenue of $264.09 million during the quarter, compared to analyst estimates of $280.00 million. Sterling Construction had a net margin of 2.34% and a return on equity of 14.15%. Sterling Construction’s revenue was down 1.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.30 EPS. As a group, equities analysts predict that Sterling Construction Company, Inc. will post 1.04 earnings per share for the current fiscal year.

In related news, CEO Joseph A. Cutillo bought 48,400 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were acquired at an average price of $11.01 per share, with a total value of $532,884.00. Following the completion of the transaction, the chief executive officer now owns 264,527 shares in the company, valued at $2,912,442.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Joseph A. Cutillo bought 35,500 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was bought at an average cost of $10.92 per share, for a total transaction of $387,660.00. Following the transaction, the chief executive officer now owns 264,527 shares of the company’s stock, valued at approximately $2,888,634.84. The disclosure for this purchase can be found here. 2.00% of the stock is currently owned by insiders.

Sterling Construction Company Profile

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.

Recommended Story: Buy Rating

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

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