Next Century Growth Investors LLC lessened its holdings in Granite Construction Inc. (NYSE:GVA) by 19.1% during the first quarter, HoldingsChannel reports. The firm owned 219,787 shares of the construction company’s stock after selling 51,870 shares during the quarter. Granite Construction makes up 1.6% of Next Century Growth Investors LLC’s investment portfolio, making the stock its 20th largest position. Next Century Growth Investors LLC’s holdings in Granite Construction were worth $12,277,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. DekaBank Deutsche Girozentrale purchased a new stake in Granite Construction in the 1st quarter valued at approximately $137,000. Global X Management Co. LLC boosted its holdings in Granite Construction by 75.2% in the 4th quarter. Global X Management Co. LLC now owns 2,760 shares of the construction company’s stock valued at $175,000 after purchasing an additional 1,185 shares in the last quarter. Advisor Group Inc. boosted its holdings in Granite Construction by 65.3% in the 4th quarter. Advisor Group Inc. now owns 3,077 shares of the construction company’s stock valued at $195,000 after purchasing an additional 1,215 shares in the last quarter. Tocqueville Asset Management L.P. purchased a new stake in Granite Construction in the 4th quarter valued at approximately $203,000. Finally, Pitcairn Co. purchased a new stake in Granite Construction in the 4th quarter valued at approximately $215,000. 95.53% of the stock is currently owned by institutional investors.

Shares of GVA stock traded up $0.09 during midday trading on Thursday, reaching $58.83. 905 shares of the company traded hands, compared to its average volume of 236,785. Granite Construction Inc. has a 1-year low of $46.04 and a 1-year high of $68.58. The company has a current ratio of 1.92, a quick ratio of 1.80 and a debt-to-equity ratio of 0.18. The company has a market cap of $2.31 billion, a price-to-earnings ratio of 36.27, a PEG ratio of 2.46 and a beta of 1.35.

Granite Construction (NYSE:GVA) last posted its quarterly earnings results on Monday, April 30th. The construction company reported ($0.13) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.37) by $0.24. Granite Construction had a net margin of 2.64% and a return on equity of 8.82%. The company had revenue of $563.40 million during the quarter, compared to the consensus estimate of $534.77 million. During the same period last year, the firm earned ($0.60) EPS. The company’s revenue for the quarter was up 20.3% on a year-over-year basis. sell-side analysts forecast that Granite Construction Inc. will post 3.36 earnings per share for the current fiscal year.

GVA has been the topic of a number of analyst reports. ValuEngine raised Granite Construction from a “sell” rating to a “hold” rating in a report on Tuesday, May 8th. DA Davidson raised Granite Construction from a “neutral” rating to a “buy” rating in a report on Thursday, April 5th. Zacks Investment Research lowered Granite Construction from a “buy” rating to a “hold” rating in a report on Tuesday, March 6th. Finally, MKM Partners lowered their price objective on Granite Construction to $74.00 and set a “buy” rating on the stock in a report on Friday, May 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $72.29.

Granite Construction Profile

Granite Construction Incorporated operates as a heavy civil contractor and a construction materials producer in the United States. The company operates through three segments: Construction, Large Project Construction, and Construction Materials. The Construction segment undertakes various civil construction projects focusing on new construction and improvement of streets, roads, highways, bridges, site work, underground, power-related facilities, water-related facilities, utilities, and other infrastructure projects.

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

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