Segall Bryant & Hamill LLC lowered its holdings in shares of Granite Construction Inc. (NYSE:GVA) by 2.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 164,984 shares of the construction company’s stock after selling 4,713 shares during the period. Segall Bryant & Hamill LLC owned approximately 0.41% of Granite Construction worth $9,216,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. BlackRock Inc. boosted its stake in Granite Construction by 1.5% during the first quarter. BlackRock Inc. now owns 4,161,698 shares of the construction company’s stock worth $232,472,000 after acquiring an additional 61,453 shares in the last quarter. Alliancebernstein L.P. lifted its stake in shares of Granite Construction by 5.7% in the fourth quarter. Alliancebernstein L.P. now owns 1,284,871 shares of the construction company’s stock worth $81,499,000 after buying an additional 69,611 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Granite Construction by 8.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,001,837 shares of the construction company’s stock worth $63,546,000 after buying an additional 79,476 shares in the last quarter. Victory Capital Management Inc. lifted its stake in shares of Granite Construction by 2.3% in the first quarter. Victory Capital Management Inc. now owns 879,637 shares of the construction company’s stock worth $49,137,000 after buying an additional 19,675 shares in the last quarter. Finally, OppenheimerFunds Inc. lifted its stake in shares of Granite Construction by 6.7% in the first quarter. OppenheimerFunds Inc. now owns 707,741 shares of the construction company’s stock worth $39,534,000 after buying an additional 44,702 shares in the last quarter. 95.53% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE GVA opened at $57.54 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.80 and a current ratio of 1.92. Granite Construction Inc. has a 52-week low of $46.88 and a 52-week high of $68.58. The company has a market capitalization of $2.29 billion, a PE ratio of 35.52, a PEG ratio of 2.43 and a beta of 1.35.

Granite Construction (NYSE:GVA) last released its quarterly earnings data on Monday, April 30th. The construction company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.37) by $0.24. Granite Construction had a net margin of 2.64% and a return on equity of 8.82%. The firm had revenue of $563.40 million during the quarter, compared to analysts’ expectations of $534.77 million. During the same period in the previous year, the company earned ($0.60) earnings per share. The firm’s quarterly revenue was up 20.3% on a year-over-year basis. research analysts anticipate that Granite Construction Inc. will post 3.36 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 13th. Stockholders of record on Friday, June 29th will be issued a dividend of $0.13 per share. The ex-dividend date is Thursday, June 28th. This represents a $0.52 annualized dividend and a dividend yield of 0.90%. Granite Construction’s payout ratio is 32.10%.

Several brokerages have recently issued reports on GVA. DA Davidson upped their target price on shares of Granite Construction to $68.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 20th. Zacks Investment Research downgraded shares of Granite Construction from a “buy” rating to a “hold” rating in a research note on Tuesday, March 6th. ValuEngine upgraded shares of Granite Construction from a “sell” rating to a “hold” rating in a research note on Tuesday, May 8th. Finally, MKM Partners dropped their target price on shares of Granite Construction to $74.00 and set a “buy” rating on the stock in a research note on Friday, May 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company’s stock. Granite Construction presently has an average rating of “Buy” and a consensus target price of $72.29.

Granite Construction Profile

Granite Construction Incorporated operates as a heavy civil contractor and a construction materials producer in the United States. The company operates through three segments: Construction, Large Project Construction, and Construction Materials. The Construction segment undertakes various civil construction projects focusing on new construction and improvement of streets, roads, highways, bridges, site work, underground, power-related facilities, water-related facilities, utilities, and other infrastructure projects.

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Institutional Ownership by Quarter for Granite Construction (NYSE:GVA)

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