Ralph L. Wadsworth Construction Company, LLC (RLW), a subsidiary of Sterling Construction Company, Inc.STRL and its joint-venture partner, W.W. Clyde & Co., Inc., have been awarded a $139-million highway project by the Utah Department of Transportation.
The project includes the design and construction of four grade-separated interchanges along the Bangerter Highway in Salt Lake City, UT. Each interchange includes a bridge, retaining walls, earthwork, concrete paving, drainage, signals and utility work. The construction of these interchanges will significantly improve the flow of traffic in the greater Salt Lake City area.
Work on the project will begin immediately, with construction starting in the spring of 2017. The project is scheduled to be complete by the end of 2018. RLW will report 100% of the project revenues and pro-rated portion of the profits.
Sterling Construction Company Inc Price
In Dec 2016, RLW was the selected bidder on the terminal concrete package for the Salt Lake City International Airport - Terminal Redevelopment Program (TRP). The job consists of all civil and bridge work associated with the elevated roadway leading up to the terminal, as well as the concourse, parking structure and gateway buildings.
Sterling Construction remains optimistic and expects these new awards to exemplify its strategic focus; helping to increase its backlog and track record in the aviation infrastructure market. The company plans to aggressively pursue similar projects in the coming years as air travel continues to grow across the U.S.
Shares of Sterling Construction outperformed the Zacks categorized Building-Heavy Construction industry over the past one year. The stock gained 102.9%, more than the industry's gain of 52.8%, over the same time frame.
Zacks Rank & Stocks to Consider
Currently, Sterling Construction carries a Zacks Rank #3 (Hold).
MasTec has delivered a whopping average positive earnings surprise of 61.27% in the last four quarters. The company sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks #1 Rank stocks here.
NCI Building also boasts a Zacks Rank #1 and has delivered an impressive average positive earnings surprise of 87.26% for the trailing four quarters. PulteGroup, another Zacks Rank #1 stock, has an average positive earnings surprise of 13.49% for the past four quarters.
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