California Public Employees Retirement System Has $853,000 Holdings in Sterling Construction Company, Inc. (NASDAQ:STRL)

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California Public Employees Retirement System increased its stake in Sterling Construction Company, Inc. (NASDAQ:STRL) by 14.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 64,838 shares of the construction company’s stock after purchasing an additional 8,095 shares during the period. California Public Employees Retirement System owned approximately 0.24% of Sterling Construction worth $853,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quantamental Technologies LLC acquired a new position in Sterling Construction in the 2nd quarter worth $25,000. Bank of Montreal Can acquired a new position in Sterling Construction in the 2nd quarter worth $30,000. Meeder Asset Management Inc. boosted its stake in Sterling Construction by 26.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 5,924 shares of the construction company’s stock worth $80,000 after purchasing an additional 1,223 shares during the period. Paloma Partners Management Co acquired a new position in Sterling Construction in the 2nd quarter worth $200,000. Finally, Ladenburg Thalmann Financial Services Inc. boosted its stake in Sterling Construction by 1,216.4% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 16,679 shares of the construction company’s stock worth $224,000 after purchasing an additional 15,412 shares during the period. 78.56% of the stock is owned by hedge funds and other institutional investors.

Sterling Construction stock opened at $14.57 on Monday. The firm has a 50-day moving average of $15.65 and a 200-day moving average of $13.27. Sterling Construction Company, Inc. has a one year low of $9.71 and a one year high of $17.49. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.56 and a quick ratio of 1.55. The company has a market cap of $397.49 million, a price-to-earnings ratio of 15.67 and a beta of 1.18.

Sterling Construction (NASDAQ:STRL) last posted its quarterly earnings data on Tuesday, November 5th. The construction company reported $0.30 EPS for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.11). Sterling Construction had a return on equity of 14.42% and a net margin of 2.24%. The business had revenue of $291.70 million for the quarter, compared to analyst estimates of $280.50 million. During the same quarter in the prior year, the company earned $0.33 earnings per share. The company’s quarterly revenue was up .1% on a year-over-year basis. As a group, sell-side analysts expect that Sterling Construction Company, Inc. will post 1.05 earnings per share for the current year.

STRL has been the subject of a number of research analyst reports. BidaskClub lowered shares of Sterling Construction from a “hold” rating to a “sell” rating in a research note on Saturday. DA Davidson increased their price objective on shares of Sterling Construction from $18.00 to $25.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. ValuEngine upgraded shares of Sterling Construction from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Finally, Zacks Investment Research downgraded shares of Sterling Construction from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th.

Sterling Construction 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.

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

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