Mutual of America Capital Management LLC Sells 686 Shares of Granite Construction Incorporated (NYSE:GVA)

Mutual of America Capital Management LLC lowered its holdings in Granite Construction Incorporated (NYSE:GVA) by 9.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,571 shares of the construction company’s stock after selling 686 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Granite Construction were worth $521,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the business. EFG Asset Management North America Corp. grew its holdings in Granite Construction by 0.5% during the 2nd quarter. EFG Asset Management North America Corp. now owns 38,191 shares of the construction company’s stock worth $2,365,000 after acquiring an additional 180 shares during the last quarter. Arizona State Retirement System raised its stake in shares of Granite Construction by 1.9% in the second quarter. Arizona State Retirement System now owns 12,309 shares of the construction company’s stock worth $763,000 after acquiring an additional 235 shares during the last quarter. Alpha Cubed Investments LLC lifted its position in shares of Granite Construction by 7.2% during the second quarter. Alpha Cubed Investments LLC now owns 4,553 shares of the construction company’s stock worth $282,000 after purchasing an additional 305 shares in the last quarter. Blue Trust Inc. grew its stake in shares of Granite Construction by 66.4% during the third quarter. Blue Trust Inc. now owns 902 shares of the construction company’s stock valued at $72,000 after purchasing an additional 360 shares during the last quarter. Finally, Louisiana State Employees Retirement System increased its holdings in shares of Granite Construction by 1.8% in the second quarter. Louisiana State Employees Retirement System now owns 22,200 shares of the construction company’s stock valued at $1,376,000 after purchasing an additional 400 shares in the last quarter.

Granite Construction Price Performance

Shares of GVA stock opened at $98.78 on Wednesday. The stock has a 50-day moving average price of $85.94 and a 200 day moving average price of $73.01. The company has a quick ratio of 1.46, a current ratio of 1.56 and a debt-to-equity ratio of 0.69. The firm has a market cap of $4.32 billion, a price-to-earnings ratio of 45.31 and a beta of 1.39. Granite Construction Incorporated has a 12 month low of $43.92 and a 12 month high of $100.57.

Granite Construction (NYSE:GVA) last issued its earnings results on Thursday, October 31st. The construction company reported $2.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.51 by ($0.46). Granite Construction had a net margin of 2.80% and a return on equity of 19.04%. The business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same period last year, the business posted $1.69 EPS. The firm’s revenue for the quarter was up 14.2% compared to the same quarter last year. Research analysts expect that Granite Construction Incorporated will post 4.98 EPS for the current year.

Granite Construction Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date of this dividend was Monday, September 30th. Granite Construction’s dividend payout ratio (DPR) is currently 23.85%.

Analyst Ratings Changes

Separately, The Goldman Sachs Group upped their price objective on Granite Construction from $61.00 to $70.00 and gave the stock a “sell” rating in a report on Wednesday, October 9th.

About Granite Construction

Granite Construction Incorporated operates as an infrastructure contractor in the United States. It operates through two segments: Construction and Materials segments. The Construction segment engages in the construction and rehabilitation of roads, pavement preservation, bridges, rail lines, airports, marine ports, dams, reservoirs, aqueducts, infrastructure, and site development for use by the public and water-related construction for municipal agencies, commercial water suppliers, industrial facilities, and energy companies; and construction of various complex projects, including infrastructure/site development, mining, public safety, tunnel, solar storage, and power related projects.