Crossmark Global Holdings Inc. Makes New $247,000 Investment in Granite Construction Incorporated (NYSE:GVA)

Crossmark Global Holdings Inc. bought a new position in shares of Granite Construction Incorporated (NYSE:GVA) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,121 shares of the construction company’s stock, valued at approximately $247,000.

Other institutional investors have also modified their holdings of the company. Rothschild Investment LLC purchased a new position in Granite Construction during the 2nd quarter worth $33,000. Blue Trust Inc. grew its holdings 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 worth $72,000 after buying an additional 360 shares during the last quarter. Headlands Technologies LLC acquired a new position in Granite Construction in the 2nd quarter valued at about $107,000. GAMMA Investing LLC raised its stake in Granite Construction by 82.5% during the 3rd quarter. GAMMA Investing LLC now owns 2,007 shares of the construction company’s stock valued at $159,000 after acquiring an additional 907 shares during the last quarter. Finally, Bard Financial Services Inc. purchased a new stake in Granite Construction during the 2nd quarter valued at approximately $215,000.

Granite Construction Stock Up 0.9 %

GVA stock opened at $96.43 on Tuesday. The stock has a market capitalization of $4.21 billion, a PE ratio of 44.24 and a beta of 1.39. The company has a fifty day moving average of $83.08 and a 200-day moving average of $71.40. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.46 and a current ratio of 1.56. Granite Construction Incorporated has a one year low of $43.92 and a one year high of $99.32.

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

Granite Construction Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 0.54%. The ex-dividend date of this dividend was Monday, September 30th. Granite Construction’s payout ratio is 23.85%.

Wall Street Analysts Forecast Growth

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

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.