Swiss National Bank Buys 2,000 Shares of Granite Construction Inc. (GVA)
Swiss National Bank grew its stake in shares of Granite Construction Inc. (NYSE:GVA) by 3.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 68,800 shares of the construction company’s stock after acquiring an additional 2,000 shares during the period. Swiss National Bank’s holdings in Granite Construction were worth $4,364,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in the company. California Public Employees Retirement System lifted its position in shares of Granite Construction by 3.6% during the 4th quarter. California Public Employees Retirement System now owns 74,414 shares of the construction company’s stock valued at $4,720,000 after acquiring an additional 2,558 shares during the last quarter. Teacher Retirement System of Texas acquired a new stake in shares of Granite Construction during the 4th quarter valued at $860,000. ING Groep NV lifted its position in shares of Granite Construction by 23.2% during the 4th quarter. ING Groep NV now owns 6,013 shares of the construction company’s stock valued at $381,000 after acquiring an additional 1,134 shares during the last quarter. First National Bank of Omaha lifted its position in shares of Granite Construction by 20.2% during the 4th quarter. First National Bank of Omaha now owns 69,791 shares of the construction company’s stock valued at $4,427,000 after acquiring an additional 11,718 shares during the last quarter. Finally, Greenwood Capital Associates LLC lifted its position in shares of Granite Construction by 57.9% during the 4th quarter. Greenwood Capital Associates LLC now owns 7,441 shares of the construction company’s stock valued at $472,000 after acquiring an additional 2,728 shares during the last quarter. Institutional investors own 96.80% of the company’s stock.
Shares of Granite Construction Inc. (NYSE:GVA) opened at $58.83 on Friday. The stock has a market capitalization of $2,318.82, a price-to-earnings ratio of 36.11, a PEG ratio of 2.60 and a beta of 1.30. Granite Construction Inc. has a 1-year low of $45.14 and a 1-year high of $68.58. The company has a quick ratio of 1.78, a current ratio of 1.88 and a debt-to-equity ratio of 0.18.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 13th. Investors of record on Friday, March 30th will be issued a dividend of $0.13 per share. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $0.52 annualized dividend and a dividend yield of 0.88%. Granite Construction’s dividend payout ratio is 30.59%.
In related news, Director Claes Bjork sold 1,264 shares of the stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $63.05, for a total transaction of $79,695.20. Following the completion of the sale, the director now directly owns 50,972 shares in the company, valued at $3,213,784.60. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 1.30% of the stock is currently owned by company insiders.
GVA has been the subject of a number of research analyst reports. Cowen increased their target price on Granite Construction from $70.00 to $85.00 and gave the company an “outperform” rating in a report on Thursday, January 18th. Zacks Investment Research lowered Granite Construction from a “hold” rating to a “sell” rating in a report on Wednesday, December 27th. Finally, DA Davidson increased their target price on Granite Construction to $68.00 and gave the company a “neutral” rating in a report on Tuesday, February 20th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $69.38.
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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.
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