Commonwealth Equity Services LLC acquired a new stake in shares of Granite Construction Inc. (NYSE:GVA) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 4,298 shares of the construction company’s stock, valued at approximately $240,000.

Other large investors have also added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale bought a new position in shares of Granite Construction during the 1st quarter valued at about $137,000. Advisor Group Inc. lifted its holdings in shares of Granite Construction by 65.3% during the 4th quarter. Advisor Group Inc. now owns 3,077 shares of the construction company’s stock valued at $195,000 after purchasing an additional 1,215 shares in the last quarter. Tocqueville Asset Management L.P. bought a new position in shares of Granite Construction during the 4th quarter valued at about $203,000. Xact Kapitalforvaltning AB bought a new position in shares of Granite Construction during the 4th quarter valued at about $250,000. Finally, Quantbot Technologies LP bought a new position in shares of Granite Construction during the 1st quarter valued at about $239,000. Institutional investors and hedge funds own 96.22% of the company’s stock.

GVA has been the topic of several recent analyst reports. ValuEngine cut Granite Construction from a “hold” rating to a “sell” rating in a report on Monday, April 2nd. DA Davidson raised Granite Construction from a “neutral” rating to a “buy” rating in a research report on Thursday, April 5th. Finally, MKM Partners dropped their target price on Granite Construction to $74.00 and set a “buy” rating on the stock in a research report on Friday, May 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. Granite Construction has an average rating of “Buy” and an average target price of $72.29.

Shares of Granite Construction opened at $56.13 on Friday, MarketBeat reports. Granite Construction Inc. has a 52-week low of $47.05 and a 52-week high of $68.58. The company has a market capitalization of $2.22 billion, a P/E ratio of 34.65, a PEG ratio of 2.36 and a beta of 1.34. The company has a current ratio of 1.92, a quick ratio of 1.80 and a debt-to-equity ratio of 0.18.

Granite Construction (NYSE:GVA) last announced its earnings results on Monday, April 30th. The construction company reported ($0.13) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.37) by $0.24. Granite Construction had a return on equity of 8.82% and a net margin of 2.64%. The business had revenue of $563.40 million for the quarter, compared to analyst estimates of $534.77 million. During the same quarter last year, the firm earned ($0.60) EPS. Granite Construction’s revenue for the quarter was up 20.3% compared to the same quarter last year. research analysts forecast that Granite Construction Inc. will post 3.36 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 13th. Investors of record on Friday, June 29th will be given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date of this dividend is Thursday, June 28th. Granite Construction’s dividend payout ratio is presently 32.10%.

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.

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

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