IndexIQ Advisors LLC Cuts Position in Sterling Construction Company, Inc. (NASDAQ:STRL)

IndexIQ Advisors LLC decreased its position in Sterling Construction Company, Inc. (NASDAQ:STRL) by 24.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 64,786 shares of the construction company’s stock after selling 20,564 shares during the quarter. IndexIQ Advisors LLC owned 0.23% of Sterling Construction worth $912,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Sterling Construction in the fourth quarter valued at approximately $35,000. Advisory Services Network LLC increased its position in shares of Sterling Construction by 35.3% during the fourth quarter. Advisory Services Network LLC now owns 7,664 shares of the construction company’s stock worth $108,000 after acquiring an additional 2,000 shares during the period. Stifel Financial Corp purchased a new stake in shares of Sterling Construction during the third quarter worth $146,000. Ladenburg Thalmann Financial Services Inc. increased its position in shares of Sterling Construction by 1,216.4% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 16,679 shares of the construction company’s stock worth $224,000 after acquiring an additional 15,412 shares during the period. Finally, Victory Capital Management Inc. increased its position in shares of Sterling Construction by 316.4% during the fourth quarter. Victory Capital Management Inc. now owns 18,619 shares of the construction company’s stock worth $245,000 after acquiring an additional 14,148 shares during the period. 77.64% of the stock is currently owned by institutional investors.

Sterling Construction stock opened at $14.86 on Friday. Sterling Construction Company, Inc. has a twelve month low of $10.16 and a twelve month high of $17.49. The stock’s fifty day simple moving average is $14.13 and its 200-day simple moving average is $13.82. The company has a current ratio of 1.56, a quick ratio of 1.55 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $411.90 million, a P/E ratio of 17.08 and a beta of 0.91.

STRL has been the topic of a number of recent research reports. BidaskClub lowered Sterling Construction from a “sell” rating to a “strong sell” rating in a research report on Saturday, February 1st. ValuEngine lowered Sterling Construction from a “hold” rating to a “sell” rating in a research report on Tuesday. Finally, Zacks Investment Research lowered Sterling Construction from a “hold” rating to a “strong sell” rating in a research report on Saturday, February 1st.

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.

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

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