Granite Construction Incorporated $GVA Shares Sold by Mizuho Markets Americas LLC

Mizuho Markets Americas LLC lessened its position in Granite Construction Incorporated (NYSE:GVA) by 25.2% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 206,738 shares of the construction company’s stock after selling 69,506 shares during the period. Mizuho Markets Americas LLC’s holdings in Granite Construction were worth $22,669,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Salomon & Ludwin LLC purchased a new position in Granite Construction during the third quarter worth about $42,000. Blue Trust Inc. increased its position in Granite Construction by 31.5% during the 3rd quarter. Blue Trust Inc. now owns 898 shares of the construction company’s stock worth $98,000 after purchasing an additional 215 shares during the period. CWM LLC raised its stake in shares of Granite Construction by 64.7% during the 2nd quarter. CWM LLC now owns 1,110 shares of the construction company’s stock worth $104,000 after buying an additional 436 shares in the last quarter. Penserra Capital Management LLC acquired a new stake in shares of Granite Construction in the 2nd quarter valued at approximately $138,000. Finally, Parkside Financial Bank & Trust boosted its stake in shares of Granite Construction by 7.3% in the second quarter. Parkside Financial Bank & Trust now owns 1,642 shares of the construction company’s stock valued at $154,000 after buying an additional 111 shares in the last quarter.

Insider Buying and Selling at Granite Construction

In related news, Director Celeste Beeks Mastin sold 7,614 shares of the company’s stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $105.23, for a total transaction of $801,221.22. Following the transaction, the director owned 10,206 shares of the company’s stock, valued at approximately $1,073,977.38. This represents a 42.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.00% of the stock is currently owned by corporate insiders.

Granite Construction Stock Performance

NYSE:GVA opened at $121.49 on Monday. The company has a current ratio of 1.21, a quick ratio of 1.12 and a debt-to-equity ratio of 0.80. The firm has a 50-day moving average price of $112.27 and a two-hundred day moving average price of $106.61. Granite Construction Incorporated has a twelve month low of $69.08 and a twelve month high of $124.99. The company has a market capitalization of $5.30 billion, a P/E ratio of 35.01 and a beta of 1.32.

Granite Construction (NYSE:GVA) last announced its quarterly earnings results on Thursday, November 6th. The construction company reported $2.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.56 by $0.14. The company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.51 billion. Granite Construction had a net margin of 4.31% and a return on equity of 24.04%. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.05 earnings per share. As a group, research analysts expect that Granite Construction Incorporated will post 5.49 earnings per share for the current fiscal year.

Granite Construction Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were issued a dividend of $0.13 per share. The ex-dividend date was Wednesday, December 31st. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.4%. Granite Construction’s payout ratio is 14.99%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Granite Construction in a research report on Monday, December 29th. Wall Street Zen upgraded shares of Granite Construction from a “hold” rating to a “buy” rating in a report on Saturday. The Goldman Sachs Group began coverage on shares of Granite Construction in a report on Monday, November 24th. They set a “neutral” rating and a $109.00 price objective on the stock. Zacks Research raised shares of Granite Construction from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. Finally, DA Davidson boosted their price target on Granite Construction from $125.00 to $130.00 and gave the stock a “buy” rating in a research note on Tuesday, November 11th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $119.50.

About Granite Construction

Granite Construction Inc is a publicly traded heavy civil contractor and construction materials producer based in Watsonville, California. The company specializes in delivering large-scale infrastructure projects for government and private clients, focusing on the development, rehabilitation and maintenance of transportation, water resource and industrial facilities. Its turnkey solutions span the full project lifecycle, from preconstruction and design-build to construction management and facilities maintenance.

In its construction segment, Granite undertakes highway and bridge building, airport runway and taxiway construction, marine terminal and port improvements, dam and reservoir projects, transit systems and underground utilities.