Capital Fund Management S.A. Sells 8,173 Shares of Granite Construction Incorporated $GVA

Capital Fund Management S.A. lessened its stake in shares of Granite Construction Incorporated (NYSE:GVA) by 8.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 93,277 shares of the construction company’s stock after selling 8,173 shares during the quarter. Capital Fund Management S.A.’s holdings in Granite Construction were worth $10,228,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Ethic Inc. raised its stake in Granite Construction by 4.6% during the 3rd quarter. Ethic Inc. now owns 2,341 shares of the construction company’s stock worth $257,000 after buying an additional 104 shares during the period. Callan Family Office LLC increased its holdings in shares of Granite Construction by 4.4% during the third quarter. Callan Family Office LLC now owns 2,774 shares of the construction company’s stock valued at $304,000 after acquiring an additional 118 shares in the last quarter. Evergreen Capital Management LLC increased its holdings in shares of Granite Construction by 4.5% during the second quarter. Evergreen Capital Management LLC now owns 2,813 shares of the construction company’s stock valued at $263,000 after acquiring an additional 120 shares in the last quarter. Nisa Investment Advisors LLC raised its position in shares of Granite Construction by 1.3% during the third quarter. Nisa Investment Advisors LLC now owns 10,675 shares of the construction company’s stock worth $1,172,000 after purchasing an additional 140 shares during the period. 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 worth $849,000 after purchasing an additional 153 shares in the last quarter.

Granite Construction Trading Down 1.0%

NYSE GVA opened at $123.75 on Friday. The firm has a market capitalization of $5.38 billion, a P/E ratio of 33.81 and a beta of 1.30. The business has a fifty day simple moving average of $126.18 and a 200 day simple moving average of $114.34. Granite Construction Incorporated has a 12 month low of $69.08 and a 12 month high of $137.24. The company has a current ratio of 1.22, a quick ratio of 1.13 and a debt-to-equity ratio of 0.79.

Granite Construction (NYSE:GVA) last posted its quarterly earnings data on Thursday, February 12th. The construction company reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.06. Granite Construction had a net margin of 4.36% and a return on equity of 24.10%. The firm had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the previous year, the firm earned $1.23 EPS. The business’s revenue for the quarter was up 19.2% compared to the same quarter last year. On average, analysts predict that Granite Construction Incorporated will post 5.49 EPS for the current fiscal year.

Granite Construction Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be issued a dividend of $0.13 per share. The ex-dividend date is Tuesday, March 31st. This represents a $0.52 annualized dividend and a yield of 0.4%. Granite Construction’s payout ratio is 14.21%.

Wall Street Analysts Forecast Growth

GVA has been the subject of several research reports. The Goldman Sachs Group lifted 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, January 28th. Wall Street Zen upgraded shares of Granite Construction from a “hold” rating to a “buy” rating in a report on Saturday, February 28th. DA Davidson raised their price objective on shares of Granite Construction from $130.00 to $155.00 and gave the company a “buy” rating in a research note on Friday, February 13th. Weiss Ratings reissued a “buy (b)” rating on shares of Granite Construction in a research report on Monday, December 29th. Finally, Zacks Research upgraded shares of Granite Construction from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $139.50.

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.