Everence Capital Management Inc. Lowers Stock Holdings in Granite Construction Incorporated (NYSE:GVA)

Everence Capital Management Inc. lowered its position in Granite Construction Incorporated (NYSE:GVA) by 2.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 7,330 shares of the construction company’s stock after selling 200 shares during the period. Everence Capital Management Inc.’s holdings in Granite Construction were worth $643,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of GVA. GAMMA Investing LLC boosted its stake in shares of Granite Construction by 8.5% in the fourth quarter. GAMMA Investing LLC now owns 2,178 shares of the construction company’s stock worth $191,000 after acquiring an additional 171 shares during the period. Arizona State Retirement System lifted its holdings in Granite Construction by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 12,309 shares of the construction company’s stock worth $763,000 after purchasing an additional 235 shares in the last quarter. Blue Trust Inc. boosted its stake in Granite Construction by 66.4% in the 3rd quarter. Blue Trust Inc. now owns 902 shares of the construction company’s stock worth $72,000 after purchasing an additional 360 shares during the period. Rothschild Investment LLC bought a new position in Granite Construction in the 2nd quarter worth approximately $33,000. Finally, Natixis Advisors LLC grew its holdings in Granite Construction by 4.3% during the 2nd quarter. Natixis Advisors LLC now owns 12,906 shares of the construction company’s stock valued at $800,000 after buying an additional 530 shares in the last quarter.

Granite Construction Price Performance

NYSE:GVA opened at $89.44 on Friday. The business’s 50-day moving average is $93.48 and its 200 day moving average is $79.40. Granite Construction Incorporated has a 12 month low of $43.92 and a 12 month high of $105.20. The company has a market capitalization of $3.91 billion, a P/E ratio of 41.03 and a beta of 1.41. The company has a current ratio of 1.56, a quick ratio of 1.46 and a debt-to-equity ratio of 0.69.

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

Granite Construction Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a $0.13 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.58%. Granite Construction’s dividend payout ratio (DPR) is presently 23.85%.

Wall Street Analyst Weigh In

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

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.