Granite Construction Inc. (NYSE:GVA) – Stock analysts at B. Riley upped their FY2018 earnings per share estimates for shares of Granite Construction in a report issued on Wednesday. B. Riley analyst A. Rygiel now expects that the construction company will earn $3.31 per share for the year, up from their previous forecast of $2.85. B. Riley currently has a “Buy” rating on the stock.

Granite Construction (NYSE:GVA) last issued its quarterly earnings data on Friday, October 27th. The construction company reported $1.14 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.10 by $0.04. The firm had revenue of $957.10 million for the quarter, compared to the consensus estimate of $905.14 million. Granite Construction had a net margin of 1.84% and a return on equity of 5.71%. Granite Construction’s quarterly revenue was up 19.1% compared to the same quarter last year. During the same period last year, the firm posted $0.92 EPS.

Several other analysts also recently weighed in on GVA. Zacks Investment Research upgraded shares of Granite Construction from a “sell” rating to a “hold” rating in a research report on Wednesday, January 3rd. FBR & Co reissued a “buy” rating and set a $68.00 target price on shares of Granite Construction in a research note on Tuesday, October 3rd. Seaport Global Securities cut shares of Granite Construction from a “buy” rating to a “neutral” rating and set a $64.00 target price on the stock. in a research note on Wednesday, October 11th. Cowen reissued a “buy” rating and set a $70.00 target price on shares of Granite Construction in a research note on Tuesday, September 19th. Finally, DA Davidson reissued a “hold” rating and set a $65.00 target price on shares of Granite Construction in a research note on Monday, October 30th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $67.00.

Shares of Granite Construction (GVA) traded down $1.01 during trading hours on Monday, reaching $64.21. 139,300 shares of the company traded hands, compared to its average volume of 176,950. The company has a market cap of $2,558.82, a P/E ratio of 49.78, a PEG ratio of 2.84 and a beta of 1.25. Granite Construction has a 12-month low of $45.14 and a 12-month high of $67.39. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.71 and a current ratio of 1.79.

Institutional investors have recently added to or reduced their stakes in the company. Fieldpoint Private Securities LLC purchased a new position in shares of Granite Construction in the third quarter worth approximately $106,000. Advisor Group Inc. increased its position in shares of Granite Construction by 169.1% in the third quarter. Advisor Group Inc. now owns 1,862 shares of the construction company’s stock worth $108,000 after acquiring an additional 1,170 shares in the last quarter. Royal Bank of Canada increased its position in shares of Granite Construction by 56.3% in the second quarter. Royal Bank of Canada now owns 2,441 shares of the construction company’s stock worth $118,000 after acquiring an additional 879 shares in the last quarter. Public Employees Retirement System of Ohio increased its position in shares of Granite Construction by 7.1% in the second quarter. Public Employees Retirement System of Ohio now owns 3,282 shares of the construction company’s stock worth $158,000 after acquiring an additional 218 shares in the last quarter. Finally, Sei Investments Co. increased its position in shares of Granite Construction by 38.3% in the second quarter. Sei Investments Co. now owns 3,285 shares of the construction company’s stock worth $158,000 after acquiring an additional 909 shares in the last quarter. 99.49% of the stock is currently owned by institutional investors and hedge funds.

In other news, Director Claes Bjork sold 1,264 shares of Granite Construction stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $63.05, for a total value of $79,695.20. Following the transaction, the director now owns 50,972 shares of the company’s stock, valued at approximately $3,213,784.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William Howard Powell sold 3,103 shares of Granite Construction stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $63.85, for a total transaction of $198,126.55. Following the completion of the transaction, the director now directly owns 46,771 shares in the company, valued at approximately $2,986,328.35. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 12th. Stockholders of record on Friday, December 29th will be paid a $0.13 dividend. The ex-dividend date is Thursday, December 28th. This represents a $0.52 annualized dividend and a dividend yield of 0.81%. Granite Construction’s dividend payout ratio is currently 40.31%.

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Granite Construction Company Profile

Granite Construction Incorporated is a heavy civil contractor and construction materials producer in the United States. The Company operates through three segments: Construction, Large Project Construction and Construction Materials. The Company operates across the nation, serving both public and private sector clients.

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