Rhumbline Advisers Has $4.78 Million Holdings in Granite Construction Inc. (NYSE:GVA)

Rhumbline Advisers lifted its holdings in shares of Granite Construction Inc. (NYSE:GVA) by 2.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 148,625 shares of the construction company’s stock after buying an additional 3,903 shares during the period. Rhumbline Advisers owned about 0.32% of Granite Construction worth $4,775,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the company. State Board of Administration of Florida Retirement System boosted its stake in shares of Granite Construction by 2.0% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 18,805 shares of the construction company’s stock worth $906,000 after buying an additional 360 shares during the last quarter. Investors Research Corp boosted its stake in shares of Granite Construction by 4.5% during the 2nd quarter. Investors Research Corp now owns 10,098 shares of the construction company’s stock worth $487,000 after buying an additional 432 shares during the last quarter. Arizona State Retirement System boosted its stake in shares of Granite Construction by 1.4% during the 2nd quarter. Arizona State Retirement System now owns 33,978 shares of the construction company’s stock worth $1,637,000 after buying an additional 455 shares during the last quarter. Zeke Capital Advisors LLC boosted its stake in shares of Granite Construction by 2.3% during the 2nd quarter. Zeke Capital Advisors LLC now owns 21,569 shares of the construction company’s stock worth $1,039,000 after buying an additional 484 shares during the last quarter. Finally, Tompkins Financial Corp boosted its stake in shares of Granite Construction by 35.3% during the 3rd quarter. Tompkins Financial Corp now owns 2,300 shares of the construction company’s stock worth $74,000 after buying an additional 600 shares during the last quarter. Institutional investors own 98.19% of the company’s stock.

GVA has been the topic of a number of research analyst reports. TheStreet cut shares of Granite Construction from a “c-” rating to a “d+” rating in a report on Monday, August 26th. B. Riley cut shares of Granite Construction from a “buy” rating to a “neutral” rating and dropped their target price for the company from $53.00 to $41.00 in a report on Tuesday, July 30th. Goldman Sachs Group cut shares of Granite Construction from a “buy” rating to a “neutral” rating and dropped their target price for the company from $50.00 to $31.00 in a report on Wednesday, August 7th. ValuEngine cut shares of Granite Construction from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Finally, DA Davidson cut shares of Granite Construction from a “buy” rating to a “neutral” rating and dropped their target price for the company from $45.00 to $30.00 in a report on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $40.75.

Shares of GVA stock opened at $27.80 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.65 and a current ratio of 1.76. The firm’s 50-day moving average is $30.91 and its 200-day moving average is $37.03. The stock has a market cap of $1.27 billion, a price-to-earnings ratio of 11.88 and a beta of 1.26. Granite Construction Inc. has a 52-week low of $22.55 and a 52-week high of $55.78.

Granite Construction (NYSE:GVA) last issued its earnings results on Friday, October 25th. The construction company reported $0.43 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.41 by ($0.98). The firm had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.15 billion. Granite Construction had a negative net margin of 3.11% and a negative return on equity of 4.63%. The firm’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.43 earnings per share. Sell-side analysts predict that Granite Construction Inc. will post -1.28 EPS for the current fiscal year.

The company also recently announced a — dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a $0.13 dividend. The ex-dividend date was Friday, September 27th. This represents a dividend yield of 1.6%. Granite Construction’s payout ratio is 22.22%.

In related news, SVP Kyle T. Larkin purchased 3,500 shares of the stock in a transaction on Friday, September 6th. The shares were purchased at an average cost of $28.54 per share, with a total value of $99,890.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Desai Jigisha purchased 1,000 shares of the stock in a transaction on Monday, August 12th. The stock was bought at an average cost of $28.33 per share, for a total transaction of $28,330.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 23,456 shares of company stock worth $609,693. 1.00% of the stock is owned by insiders.

Granite Construction Company Profile

Granite Construction Incorporated operates as an infrastructure contractor and a construction materials producer in the United States. The company operates through Transportation, Water, Specialty, and Materials segments. The Transportation segment engages in the construction and rehabilitation of roads, pavement preservation, bridges, rail lines, airports, and marine ports.

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Institutional Ownership by Quarter for Granite Construction (NYSE:GVA)

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