Nationwide Fund Advisors lifted its holdings in shares of Granite Construction Inc. (NYSE:GVA) by 3.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 140,621 shares of the construction company’s stock after purchasing an additional 4,900 shares during the quarter. Nationwide Fund Advisors owned 0.35% of Granite Construction worth $8,149,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Royal Bank of Canada grew its holdings in shares of Granite Construction by 56.3% during the second quarter. Royal Bank of Canada now owns 2,441 shares of the construction company’s stock worth $118,000 after purchasing an additional 879 shares in the last quarter. Public Employees Retirement System of Ohio grew its holdings in shares of Granite Construction by 7.1% during the second quarter. Public Employees Retirement System of Ohio now owns 3,282 shares of the construction company’s stock worth $158,000 after purchasing an additional 218 shares in the last quarter. Sei Investments Co. grew its holdings in shares of Granite Construction by 38.3% during the second quarter. Sei Investments Co. now owns 3,285 shares of the construction company’s stock worth $158,000 after purchasing an additional 909 shares in the last quarter. Riverhead Capital Management LLC grew its holdings in shares of Granite Construction by 65.0% during the second quarter. Riverhead Capital Management LLC now owns 3,630 shares of the construction company’s stock worth $175,000 after purchasing an additional 1,430 shares in the last quarter. Finally, Flinton Capital Management LLC grew its holdings in shares of Granite Construction by 68.8% during the second quarter. Flinton Capital Management LLC now owns 3,672 shares of the construction company’s stock worth $177,000 after purchasing an additional 1,496 shares in the last quarter. 98.59% of the stock is owned by institutional investors.

Shares of Granite Construction Inc. (NYSE GVA) opened at $65.54 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.79 and a quick ratio of 1.71. Granite Construction Inc. has a 12-month low of $45.14 and a 12-month high of $67.39. The firm has a market capitalization of $2,605.05, a P/E ratio of 50.67, a price-to-earnings-growth ratio of 5.74 and a beta of 1.24.

Granite Construction (NYSE:GVA) last announced its quarterly earnings data on Friday, October 27th. The construction company reported $1.14 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.10 by $0.04. Granite Construction had a return on equity of 5.71% and a net margin of 1.84%. The firm had revenue of $957.10 million during the quarter, compared to the consensus estimate of $905.14 million. During the same quarter in the previous year, the company posted $0.92 earnings per share. The business’s revenue was up 19.1% on a year-over-year basis. equities research analysts forecast that Granite Construction Inc. will post 1.63 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 12th. Shareholders of record on Friday, December 29th will be given a $0.13 dividend. The ex-dividend date is Thursday, December 28th. This represents a $0.52 annualized dividend and a yield of 0.79%. Granite Construction’s payout ratio is currently 40.31%.

Several research analysts have recently commented on the company. B. Riley reissued a “buy” rating on shares of Granite Construction in a report on Wednesday, November 1st. Zacks Investment Research raised Granite Construction from a “hold” rating to a “buy” rating and set a $71.00 target price for the company in a research note on Tuesday, October 31st. Canaccord Genuity upped their target price on Granite Construction from $70.00 to $75.00 and gave the stock a “buy” rating in a research note on Monday, October 30th. DA Davidson reaffirmed a “hold” rating and issued a $65.00 target price on shares of Granite Construction in a research note on Monday, October 30th. Finally, FBR & Co reaffirmed a “buy” rating and issued a $68.00 target price on shares of Granite Construction in a research note on Tuesday, October 3rd. One research analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company. Granite Construction presently has a consensus rating of “Buy” and an average price target of $67.00.

In other Granite Construction news, Director William Howard Powell sold 3,103 shares of the business’s stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $63.85, for a total value of $198,126.55. Following the completion of the sale, the director now owns 46,771 shares in the company, valued at $2,986,328.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.30% of the company’s stock.

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About Granite Construction

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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