ClariVest Asset Management LLC Takes $4.55 Million Position in Sterling Construction Company, Inc. (NASDAQ:STRL)

ClariVest Asset Management LLC acquired a new stake in Sterling Construction Company, Inc. (NASDAQ:STRLGet Rating) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 172,875 shares of the construction company’s stock, valued at approximately $4,547,000. ClariVest Asset Management LLC owned approximately 0.60% of Sterling Construction as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Dorsey Wright & Associates bought a new stake in Sterling Construction during the 4th quarter worth about $53,000. Patriot Financial Group Insurance Agency LLC boosted its stake in Sterling Construction by 23.4% during the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 2,097 shares of the construction company’s stock worth $55,000 after acquiring an additional 397 shares during the last quarter. Strs Ohio bought a new position in Sterling Construction during the 4th quarter worth approximately $170,000. Metropolitan Life Insurance Co NY boosted its stake in Sterling Construction by 22.9% during the 3rd quarter. Metropolitan Life Insurance Co NY now owns 7,573 shares of the construction company’s stock worth $172,000 after acquiring an additional 1,409 shares during the last quarter. Finally, BNP Paribas Arbitrage SA boosted its stake in Sterling Construction by 127.1% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 7,741 shares of the construction company’s stock worth $175,000 after acquiring an additional 4,333 shares during the last quarter. Institutional investors and hedge funds own 79.00% of the company’s stock.

Several research analysts recently weighed in on STRL shares. Zacks Investment Research raised shares of Sterling Construction from a “hold” rating to a “buy” rating and set a $26.00 price objective on the stock in a research note on Saturday, May 14th. StockNews.com assumed coverage on shares of Sterling Construction in a research note on Thursday, March 31st. They set a “buy” rating on the stock.

Shares of NASDAQ STRL traded up $0.60 during midday trading on Wednesday, reaching $24.00. The company’s stock had a trading volume of 3,565 shares, compared to its average volume of 187,983. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 1.11. Sterling Construction Company, Inc. has a fifty-two week low of $20.17 and a fifty-two week high of $32.14. The stock has a market capitalization of $726.31 million, a price-to-earnings ratio of 9.67 and a beta of 1.23. The stock has a 50 day simple moving average of $25.32 and a 200-day simple moving average of $26.80.

Sterling Construction (NASDAQ:STRLGet Rating) last posted its quarterly earnings data on Monday, May 2nd. The construction company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.22. The company had revenue of $410.32 million for the quarter, compared to the consensus estimate of $371.80 million. Sterling Construction had a net margin of 4.25% and a return on equity of 20.99%. During the same period last year, the company earned $0.37 earnings per share. As a group, equities analysts anticipate that Sterling Construction Company, Inc. will post 2.88 EPS for the current year.

Sterling Construction Profile (Get Rating)

Sterling Construction Company, Inc engages in the transportation, e-infrastructure, and building solutions primarily in the Southern United States, the Northeastern and Mid-Atlantic United States, the Rocky Mountain states, California, and Hawaii. It undertakes infrastructure and rehabilitation projects for highways, roads, bridges, airports, ports, light rail, water, wastewater, and storm drainage systems for the departments of transportation in various states, regional transit authorities, airport authorities, port authorities, water authorities and railroads.

See Also

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

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