Tudor Investment Corp ET AL Trims Stock Position in Granite Construction Incorporated $GVA

Tudor Investment Corp ET AL trimmed its stake in shares of Granite Construction Incorporated (NYSE:GVA) by 3.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 134,530 shares of the construction company’s stock after selling 4,857 shares during the quarter. Tudor Investment Corp ET AL owned about 0.31% of Granite Construction worth $14,751,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of GVA. AQR Capital Management LLC increased its holdings in shares of Granite Construction by 73.2% in the first quarter. AQR Capital Management LLC now owns 21,379 shares of the construction company’s stock valued at $1,612,000 after purchasing an additional 9,038 shares during the period. United Services Automobile Association purchased a new stake in shares of Granite Construction during the first quarter worth approximately $207,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Granite Construction by 21.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 168,859 shares of the construction company’s stock worth $12,732,000 after purchasing an additional 29,428 shares during the period. Norges Bank acquired a new stake in shares of Granite Construction during the second quarter worth $24,812,000. Finally, New York State Common Retirement Fund grew its position in Granite Construction by 1.5% in the 2nd quarter. New York State Common Retirement Fund now owns 13,848 shares of the construction company’s stock valued at $1,295,000 after buying an additional 200 shares during the last quarter.

Insiders Place Their Bets

In other news, CFO Staci M. Woolsey sold 1,523 shares of the stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $119.84, for a total value of $182,516.32. Following the completion of the transaction, the chief financial officer owned 18,954 shares in the company, valued at $2,271,447.36. This trade represents a 7.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Kyle T. Larkin sold 26,651 shares of the firm’s stock in a transaction dated Friday, March 27th. The shares were sold at an average price of $118.12, for a total transaction of $3,148,016.12. Following the completion of the sale, the chief executive officer owned 114,881 shares of the company’s stock, valued at $13,569,743.72. This trade represents a 18.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 35,488 shares of company stock worth $4,207,042. Corporate insiders own 1.00% of the company’s stock.

Granite Construction Stock Down 0.0%

Granite Construction stock opened at $121.55 on Friday. The stock’s 50 day moving average price is $125.96 and its 200 day moving average price is $115.70. Granite Construction Incorporated has a 1-year low of $69.08 and a 1-year high of $137.24. The company has a market cap of $5.29 billion, a PE ratio of 33.21 and a beta of 1.30. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.22 and a quick ratio of 1.13.

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

Granite Construction Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Zacks Research raised shares of Granite Construction from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. Wall Street Zen upgraded shares of Granite Construction from a “hold” rating to a “buy” rating in a research note on Saturday, February 28th. DA Davidson lifted their target price on shares of Granite Construction from $130.00 to $155.00 and gave the company a “buy” rating in a report on Friday, February 13th. The Goldman Sachs Group boosted their price target on shares of Granite Construction from $109.00 to $124.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 28th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Granite Construction in a report on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $139.50.

Granite Construction Company 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.