Sei Investments Co. lifted its stake in shares of Granite Construction Incorporated (NYSE:GVA) by 38.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,285 shares of the construction company’s stock after purchasing an additional 909 shares during the quarter. Sei Investments Co.’s holdings in Granite Construction were worth $158,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GVA. BlackRock Inc. grew its holdings in shares of Granite Construction by 19,890.7% during the 1st quarter. BlackRock Inc. now owns 3,988,954 shares of the construction company’s stock worth $200,206,000 after purchasing an additional 3,969,000 shares in the last quarter. RidgeWorth Capital Management LLC grew its holdings in shares of Granite Construction by 345.9% during the 1st quarter. RidgeWorth Capital Management LLC now owns 466,505 shares of the construction company’s stock worth $23,474,000 after purchasing an additional 361,881 shares in the last quarter. OppenheimerFunds Inc. grew its holdings in shares of Granite Construction by 113.5% during the 1st quarter. OppenheimerFunds Inc. now owns 649,967 shares of the construction company’s stock worth $32,622,000 after purchasing an additional 345,592 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Granite Construction by 85.3% during the 1st quarter. Victory Capital Management Inc. now owns 746,324 shares of the construction company’s stock worth $37,458,000 after purchasing an additional 343,587 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Granite Construction by 6.4% during the 1st quarter. Vanguard Group Inc. now owns 3,291,375 shares of the construction company’s stock worth $165,194,000 after purchasing an additional 197,958 shares in the last quarter. 99.00% of the stock is currently owned by institutional investors.

Several analysts have recently issued reports on GVA shares. Zacks Investment Research raised Granite Construction from a “sell” rating to a “hold” rating in a report on Tuesday, July 4th. BidaskClub raised Granite Construction from a “strong sell” rating to a “sell” rating in a report on Thursday, July 6th. FBR & Co increased their target price on Granite Construction from $63.00 to $68.00 and gave the stock an “outperform” rating in a report on Tuesday, August 1st. Finally, Canaccord Genuity reissued a “buy” rating and set a $70.00 target price on shares of Granite Construction in a report on Saturday, August 26th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the stock. Granite Construction currently has an average rating of “Buy” and a consensus target price of $63.67.

Shares of Granite Construction Incorporated (NYSE:GVA) opened at 55.19 on Tuesday. The firm has a market capitalization of $2.20 billion, a price-to-earnings ratio of 50.22 and a beta of 1.17. The company has a 50-day moving average price of $51.92 and a 200 day moving average price of $50.41. Granite Construction Incorporated has a 1-year low of $42.59 and a 1-year high of $62.18.

Granite Construction (NYSE:GVA) last posted its earnings results on Tuesday, August 1st. The construction company reported $0.35 EPS 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 for the quarter, compared to analysts’ expectations of $684.32 million. During the same quarter in the previous year, the firm earned $0.35 earnings per share. Granite Construction’s quarterly revenue was up 26.2% compared to the same quarter last year. On average, equities research analysts predict that Granite Construction Incorporated will post $1.55 EPS for the current year.

In related news, Director William Howard Powell sold 3,000 shares of the business’s stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $49.60, for a total transaction of $148,800.00. Following the completion of the transaction, the director now directly owns 49,858 shares in the company, valued at $2,472,956.80. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider James D. Richards sold 4,000 shares of the business’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $55.50, for a total value of $222,000.00. The disclosure for this sale can be found here. 1.30% of the stock is owned by insiders.

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Granite Construction 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.

Institutional Ownership by Quarter for Granite Construction (NYSE:GVA)

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