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Sterling Construction Low Bidder in $65.3M Texas Project
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The subsidiary of Sterling Construction Company, Inc. (STRL - Free Report) – Texas Sterling Construction Co – has been announced the low bidder on a $65.3 million Texas Department of Transportation (“TxDOT”) project in the San Antonio, TX area. This is one of the largest awards of the company in Texas in recent years.
This significant project will help improve safety and enhance the traffic flow on a six-mile section of I-10 in the eastern suburbs of San Antonio that is frequented with heavy traffic. The project consists of the reconstruction from Foster Road to Graytown Road. The work includes concrete and blacktop paving, three new bridges, new retaining walls, the improvements to frontage roads and ramps as well as drainage improvements. Due to the recent flooding in the region, the drainage improvements have been designed into this project and will ensure the safety of drivers during such hazardous weather conditions.
Texas Sterling will start work in Sept 2016 which is expected to be complete by Jun 2019. Sterling Construction’s backlog at Mar 31, 2016 was at $854 million, up 12% from Dec 31, 2015. Backlog as of Mar 31, 2016 totaled $922 million with an average gross margin of 7.7%, including $68 million of projects where the company was the apparent low bidder but the contract had not yet been signed.
Houston, TX-based Sterling Construction is a leading heavy civil construction company engaged in building and reconstruction of transportation and water infrastructure projects in Texas, Utah, Nevada, Arizona, California and other states. Its transportation infrastructure projects include highways, roads, bridges, and light rail; and its water infrastructure projects comprise water, wastewater, and storm drainage systems.
Sterling Construction currently carries a Zacks Rank #5 (Strong Sell). Some better ranked stocks in the sector include Dycom Industries Inc. (DY - Free Report) , Tutor Perini Corp. (TPC - Free Report) and TopBuild Corp. (BLD - Free Report) . All of these stocks sport a Zacks rank #1 (Strong Buy).
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Sterling Construction Low Bidder in $65.3M Texas Project
The subsidiary of Sterling Construction Company, Inc. (STRL - Free Report) – Texas Sterling Construction Co – has been announced the low bidder on a $65.3 million Texas Department of Transportation (“TxDOT”) project in the San Antonio, TX area. This is one of the largest awards of the company in Texas in recent years.
This significant project will help improve safety and enhance the traffic flow on a six-mile section of I-10 in the eastern suburbs of San Antonio that is frequented with heavy traffic. The project consists of the reconstruction from Foster Road to Graytown Road. The work includes concrete and blacktop paving, three new bridges, new retaining walls, the improvements to frontage roads and ramps as well as drainage improvements. Due to the recent flooding in the region, the drainage improvements have been designed into this project and will ensure the safety of drivers during such hazardous weather conditions.
Texas Sterling will start work in Sept 2016 which is expected to be complete by Jun 2019. Sterling Construction’s backlog at Mar 31, 2016 was at $854 million, up 12% from Dec 31, 2015. Backlog as of Mar 31, 2016 totaled $922 million with an average gross margin of 7.7%, including $68 million of projects where the company was the apparent low bidder but the contract had not yet been signed.
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Houston, TX-based Sterling Construction is a leading heavy civil construction company engaged in building and reconstruction of transportation and water infrastructure projects in Texas, Utah, Nevada, Arizona, California and other states. Its transportation infrastructure projects include highways, roads, bridges, and light rail; and its water infrastructure projects comprise water, wastewater, and storm drainage systems.
Sterling Construction currently carries a Zacks Rank #5 (Strong Sell). Some better ranked stocks in the sector include Dycom Industries Inc. (DY - Free Report) , Tutor Perini Corp. (TPC - Free Report) and TopBuild Corp. (BLD - Free Report) . All of these stocks sport a Zacks rank #1 (Strong Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>