Daiwa Securities Group Inc. Has $2,234,000 Position in Granite Construction Incorporated (NYSE:GVA)
Daiwa Securities Group Inc. held its stake in Granite Construction Incorporated (NYSE:GVA) during the second quarter, Holdings Channel reports. The institutional investor owned 46,300 shares of the construction company’s stock at the end of the second quarter. Daiwa Securities Group Inc.’s holdings in Granite Construction were worth $2,234,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in the company. Great West Life Assurance Co. Can increased its stake in Granite Construction by 3.9% in the second quarter. Great West Life Assurance Co. Can now owns 24,968 shares of the construction company’s stock worth $1,203,000 after buying an additional 932 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its stake in Granite Construction by 9.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 13,970 shares of the construction company’s stock worth $674,000 after buying an additional 1,200 shares in the last quarter. Personal Capital Advisors Corp bought a new stake in Granite Construction during the second quarter worth approximately $335,000. ING Groep NV bought a new stake in Granite Construction during the second quarter worth approximately $234,000. Finally, Russell Investments Group Ltd. increased its stake in Granite Construction by 21.0% in the second quarter. Russell Investments Group Ltd. now owns 242,918 shares of the construction company’s stock worth $11,717,000 after buying an additional 42,172 shares in the last quarter. Institutional investors own 93.96% of the company’s stock.
Shares of Granite Construction Incorporated (GVA) opened at 53.54 on Wednesday. Granite Construction Incorporated has a one year low of $42.59 and a one year high of $62.18. The company has a market capitalization of $2.13 billion, a P/E ratio of 48.72 and a beta of 1.20. The firm has a 50 day moving average price of $49.49 and a 200 day moving average price of $51.01.
Granite Construction (NYSE:GVA) last posted its quarterly earnings data on Tuesday, August 1st. The construction company reported $0.35 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.60 by $0.25. Granite Construction had a return on equity of 4.80% and a net margin of 1.61%. The business had revenue of $762.90 million during the quarter, compared to the consensus estimate of $684.32 million. During the same period last year, the business posted $0.35 earnings per share. The business’s revenue was up 26.2% on a year-over-year basis. On average, equities research analysts predict that Granite Construction Incorporated will post $1.50 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Friday, June 30th were given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 0.97%. The ex-dividend date of this dividend was Wednesday, June 28th. Granite Construction’s dividend payout ratio (DPR) is presently 48.60%.
A number of research firms recently commented on GVA. FBR & Co upped their price objective on Granite Construction from $63.00 to $68.00 and gave the company an “outperform” rating in a report on Tuesday, August 1st. Canaccord Genuity reiterated a “buy” rating and issued a $70.00 price objective on shares of Granite Construction in a report on Tuesday, August 1st. BidaskClub upgraded Granite Construction from a “strong sell” rating to a “sell” rating in a report on Thursday, July 6th. Finally, Zacks Investment Research upgraded Granite Construction from a “sell” rating to a “hold” rating in a report on Tuesday, July 4th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company’s stock. Granite Construction has an average rating of “Buy” and a consensus target price of $62.14.
In other news, Director James Hildebrand Roberts sold 17,442 shares of Granite Construction stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $50.34, for a total value of $878,030.28. Following the completion of the transaction, the director now directly owns 54,594 shares of the company’s stock, valued at approximately $2,748,261.96. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director William Howard Powell sold 3,000 shares of Granite Construction stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $49.60, for a total value of $148,800.00. Following the completion of the transaction, the director now directly owns 49,858 shares of the company’s stock, valued at $2,472,956.80. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.
Granite Construction Company Profile
Granite Construction Incorporated is a heavy civil contractor and construction materials producer in the United States. The Company operates through three segments: Construction, Large Project Construction and Construction Materials. The Company operates across the nation, serving both public and private sector clients.
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