GAMMA Investing LLC Raises Stock Holdings in Granite Construction Incorporated (NYSE:GVA)

GAMMA Investing LLC boosted its stake in shares of Granite Construction Incorporated (NYSE:GVA) by 8.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,178 shares of the construction company’s stock after buying an additional 171 shares during the quarter. GAMMA Investing LLC’s holdings in Granite Construction were worth $191,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in GVA. HighTower Advisors LLC lifted its holdings in shares of Granite Construction by 176.4% in the 3rd quarter. HighTower Advisors LLC now owns 15,092 shares of the construction company’s stock worth $1,199,000 after acquiring an additional 9,631 shares during the last quarter. Aristeia Capital L.L.C. acquired a new position in Granite Construction during the second quarter worth $4,513,000. Highbridge Capital Management LLC acquired a new position in Granite Construction during the second quarter worth $4,513,000. RPg Family Wealth Advisory LLC purchased a new position in shares of Granite Construction during the third quarter worth $4,163,000. Finally, Caxton Associates LP acquired a new stake in shares of Granite Construction in the second quarter valued at $503,000.

Analyst Upgrades and Downgrades

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 research note on Wednesday, October 9th.

Granite Construction Trading Down 0.2 %

Shares of GVA stock opened at $88.22 on Thursday. The stock has a market capitalization of $3.86 billion, a P/E ratio of 40.47 and a beta of 1.43. Granite Construction Incorporated has a fifty-two week low of $43.92 and a fifty-two week high of $105.20. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.46 and a current ratio of 1.56. The company has a 50 day moving average price of $93.76 and a 200 day moving average price of $79.90.

Granite Construction (NYSE:GVA) last posted its quarterly earnings results on Thursday, October 31st. The construction company reported $2.05 EPS for the quarter, missing the consensus estimate of $2.51 by ($0.46). The business had revenue of $1.28 billion during 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 business’s revenue was up 14.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.69 EPS. Equities research analysts predict that Granite Construction Incorporated will post 4.98 EPS for the current fiscal year.

Granite Construction Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date is Tuesday, December 31st. Granite Construction’s dividend payout ratio is currently 23.85%.

Granite Construction Company 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.