5,900 Shares in Granite Construction Incorporated $GVA Bought by WINTON GROUP Ltd

WINTON GROUP Ltd acquired a new stake in shares of Granite Construction Incorporated (NYSE:GVA) in the second quarter, HoldingsChannel.com reports. The firm acquired 5,900 shares of the construction company’s stock, valued at approximately $933,000.

Other institutional investors also recently bought and sold shares of the company. Maryland State Retirement & Pension System boosted its position in Granite Construction by 1.3% in the fourth quarter. Maryland State Retirement & Pension System now owns 6,378 shares of the construction company’s stock worth $736,000 after purchasing an additional 83 shares during the last quarter. Root Financial Partners LLC increased its position in shares of Granite Construction by 30.9% during the 1st quarter. Root Financial Partners LLC now owns 381 shares of the construction company’s stock valued at $46,000 after purchasing an additional 90 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Granite Construction by 3.0% during the 2nd quarter. GAMMA Investing LLC now owns 3,616 shares of the construction company’s stock valued at $572,000 after purchasing an additional 107 shares during the last quarter. Evergreen Capital Management LLC lifted its stake in shares of Granite Construction by 4.5% in 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. Finally, Corient Private Wealth LLC lifted its stake in shares of Granite Construction by 3.1% in the 4th quarter. Corient Private Wealth LLC now owns 4,978 shares of the construction company’s stock worth $575,000 after purchasing an additional 148 shares during the period.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on GVA shares. Oppenheimer raised their price objective on shares of Granite Construction from $170.00 to $180.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Stephens assumed coverage on shares of Granite Construction in a report on Friday, June 26th. They set an “overweight” rating and a $180.00 target price for the company. Wall Street Zen downgraded shares of Granite Construction from a “buy” rating to a “hold” rating in a research report on Saturday, July 18th. The Goldman Sachs Group dropped their price target on shares of Granite Construction from $139.00 to $119.00 and set a “sell” rating on the stock in a research note on Friday, July 31st. Finally, Weiss Ratings downgraded shares of Granite Construction from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, September 2nd. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $158.50.

Granite Construction Stock Up 0.1%

NYSE GVA opened at $119.01 on Monday. The stock’s 50-day moving average price is $123.94 and its 200-day moving average price is $129.83. The company has a quick ratio of 0.94, a current ratio of 1.01 and a debt-to-equity ratio of 1.46. Granite Construction Incorporated has a 52 week low of $97.26 and a 52 week high of $162.08. The company has a market capitalization of $5.21 billion, a P/E ratio of -27.61 and a beta of 1.32.

Granite Construction (NYSE:GVA) last announced its quarterly earnings data on Thursday, July 30th. The construction company reported $2.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.25 by ($0.09). The company had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.41 billion. Granite Construction had a negative net margin of 3.32% and a positive return on equity of 27.83%. The company’s revenue was up 28.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.42 earnings per share. On average, equities research analysts predict that Granite Construction Incorporated will post 6.36 earnings per share for the current year.

Granite Construction Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be issued a dividend of $0.13 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $0.52 annualized dividend and a yield of 0.4%. Granite Construction’s payout ratio is currently -12.06%.

Insider Buying and Selling at Granite Construction

In other news, Director Carlos M. Hernandez acquired 400 shares of Granite Construction stock in a transaction dated Thursday, August 6th. The stock was purchased at an average cost of $123.99 per share, with a total value of $49,596.00. Following the completion of the purchase, the director directly owned 5,033 shares in the company, valued at approximately $624,041.67. This trade represents a 8.63% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.88% of the stock is currently owned by insiders.

Granite Construction Company Profile

Granite Construction Incorporated (NYSE:GVA) is a civil infrastructure contractor that delivers construction and engineering services for public and private-sector customers. The company’s work includes the development and rehabilitation of transportation infrastructure such as highways, roads, bridges, airports, rail systems and mass-transit facilities.

Granite also provides services for water and wastewater systems, dams, utilities and other complex infrastructure projects. Its capabilities include project development, construction management, design-build delivery, general contracting, excavation, paving and related construction services.