Granite Construction Incorporated $GVA Shares Sold by Great Lakes Advisors LLC

Great Lakes Advisors LLC trimmed its holdings in shares of Granite Construction Incorporated (NYSE:GVA) by 38.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 76,948 shares of the construction company’s stock after selling 47,858 shares during the period. Great Lakes Advisors LLC owned approximately 0.18% of Granite Construction worth $8,437,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Ethic Inc. raised its holdings in shares of Granite Construction by 4.6% during the third quarter. Ethic Inc. now owns 2,341 shares of the construction company’s stock worth $257,000 after purchasing an additional 104 shares during the last quarter. Parkside Financial Bank & Trust grew its position in Granite Construction by 7.3% during the 2nd quarter. Parkside Financial Bank & Trust now owns 1,642 shares of the construction company’s stock worth $154,000 after purchasing an additional 111 shares during the period. Evergreen Capital Management LLC grew its position in Granite Construction by 4.5% during the 2nd quarter. Evergreen Capital Management LLC now owns 2,813 shares of the construction company’s stock worth $263,000 after purchasing an additional 120 shares during the period. Nisa Investment Advisors LLC raised its stake in shares of Granite Construction by 1.3% during the 3rd quarter. Nisa Investment Advisors LLC now owns 10,675 shares of the construction company’s stock valued at $1,172,000 after buying an additional 140 shares during the last quarter. Finally, Dorsey & Whitney Trust CO LLC lifted its holdings in shares of Granite Construction by 1.7% in the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 9,074 shares of the construction company’s stock valued at $849,000 after buying an additional 153 shares during the period.

Insider Transactions at Granite Construction

In other Granite Construction news, Director Celeste Beeks Mastin sold 7,614 shares of the business’s stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $105.23, for a total transaction of $801,221.22. Following the completion of the sale, the director directly owned 10,206 shares in the company, valued at approximately $1,073,977.38. The trade was a 42.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.00% of the company’s stock.

Granite Construction Trading Up 1.5%

Shares of NYSE:GVA opened at $121.48 on Friday. The business’s 50 day moving average price is $115.58 and its 200-day moving average price is $108.11. Granite Construction Incorporated has a 1 year low of $69.08 and a 1 year high of $124.99. The firm has a market capitalization of $5.30 billion, a price-to-earnings ratio of 35.01 and a beta of 1.32. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.21 and a quick ratio of 1.12.

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

Granite Construction Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were paid a $0.13 dividend. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $0.52 dividend on an annualized basis and a yield of 0.4%. Granite Construction’s dividend payout ratio (DPR) is currently 14.99%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on GVA. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Granite Construction in a report on Monday, December 29th. Wall Street Zen raised shares of Granite Construction from a “hold” rating to a “buy” rating in a report on Saturday, January 17th. DA Davidson boosted their target price on shares of Granite Construction from $125.00 to $130.00 and gave the company a “buy” rating in a research note on Tuesday, November 11th. The Goldman Sachs Group raised their price target on shares of Granite Construction from $109.00 to $124.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, Zacks Research raised shares of Granite Construction from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Granite Construction currently has an average rating of “Moderate Buy” and an average target price of $127.00.

Granite Construction Profile

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.