Natixis Advisors LLC Has $1.09 Million Stock Position in Granite Construction Incorporated (NYSE:GVA)

Natixis Advisors LLC lifted its stake in Granite Construction Incorporated (NYSE:GVA) by 6.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,712 shares of the construction company’s stock after buying an additional 806 shares during the period. Natixis Advisors LLC’s holdings in Granite Construction were worth $1,087,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Comerica Bank lifted its holdings in Granite Construction by 177.6% during the 1st quarter. Comerica Bank now owns 113,514 shares of the construction company’s stock valued at $6,485,000 after purchasing an additional 72,621 shares during the last quarter. Castleark Management LLC boosted its holdings in shares of Granite Construction by 4.3% in the 1st quarter. Castleark Management LLC now owns 72,580 shares of the construction company’s stock worth $4,146,000 after acquiring an additional 2,960 shares in the last quarter. Highbridge Capital Management LLC bought a new stake in Granite Construction during the 2nd quarter worth approximately $4,513,000. Aristeia Capital L.L.C. acquired a new stake in Granite Construction during the 2nd quarter valued at $4,513,000. Finally, Raymond James & Associates raised its position in Granite Construction by 16.0% in the 2nd quarter. Raymond James & Associates now owns 128,511 shares of the construction company’s stock valued at $7,964,000 after purchasing an additional 17,738 shares during the last quarter.

Wall Street Analyst Weigh In

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

Granite Construction Price Performance

Granite Construction stock opened at $98.78 on Wednesday. The stock has a market cap of $4.32 billion, a price-to-earnings ratio of 45.43 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. 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 business’s 50-day simple moving average is $85.94 and its 200 day simple moving average is $73.01.

Granite Construction (NYSE:GVA) last announced its quarterly earnings data on Thursday, October 31st. The construction company reported $2.05 EPS for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.46). The company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.29 billion. Granite Construction had a return on equity of 19.04% and a net margin of 2.80%. The firm’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same period last year, the firm earned $1.69 earnings per share. As a group, research analysts anticipate that Granite Construction Incorporated will post 4.98 earnings per share for the current year.

Granite Construction Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 0.53%. The ex-dividend date was Monday, September 30th. Granite Construction’s payout ratio is presently 23.85%.

Granite Construction Profile

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.