Dimensional Fund Advisors LP Purchases 4,327 Shares of Granite Construction Incorporated $GVA

Dimensional Fund Advisors LP raised its holdings in shares of Granite Construction Incorporated (NYSE:GVA) by 0.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,067,545 shares of the construction company’s stock after purchasing an additional 4,327 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Granite Construction were worth $127,969,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Maryland State Retirement & Pension System boosted its holdings in Granite Construction by 1.3% in the 4th quarter. Maryland State Retirement & Pension System now owns 6,378 shares of the construction company’s stock worth $736,000 after buying an additional 83 shares during the period. Root Financial Partners LLC grew its position in shares of Granite Construction by 30.9% in the first 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 in the last quarter. Evergreen Capital Management LLC grew its position in shares of Granite Construction by 4.5% in the second quarter. Evergreen Capital Management LLC now owns 2,813 shares of the construction company’s stock valued at $263,000 after purchasing an additional 120 shares in the last quarter. Corient Private Wealth LLC raised its stake in shares of Granite Construction by 3.1% during the 4th quarter. Corient Private Wealth LLC now owns 4,978 shares of the construction company’s stock valued at $575,000 after purchasing an additional 148 shares during the period. Finally, State of Alaska Department of Revenue lifted its holdings in Granite Construction by 0.9% during the 4th quarter. State of Alaska Department of Revenue now owns 22,224 shares of the construction company’s stock worth $2,563,000 after purchasing an additional 191 shares in the last quarter.

Insider Buying and Selling

In related news, Director John Timothy Romer purchased 375 shares of the business’s stock in a transaction on Monday, June 15th. The stock was acquired at an average price of $143.65 per share, with a total value of $53,868.75. Following the purchase, the director directly owned 2,801 shares in the company, valued at approximately $402,363.65. This represents a 15.46% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Bradley Jay Williams sold 6,734 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $141.00, for a total transaction of $949,494.00. Following the completion of the transaction, the senior vice president directly owned 7,041 shares of the company’s stock, valued at approximately $992,781. This represents a 48.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.88% of the stock is owned by company insiders.

Granite Construction Price Performance

NYSE:GVA opened at $125.60 on Tuesday. The firm has a market capitalization of $5.49 billion, a price-to-earnings ratio of 36.19 and a beta of 1.29. Granite Construction Incorporated has a 52-week low of $89.80 and a 52-week high of $162.08. The stock has a fifty day moving average of $137.73 and a 200 day moving average of $130.61. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.97 and a current ratio of 1.09.

Granite Construction (NYSE:GVA) last posted its earnings results on Thursday, April 30th. The construction company reported $0.26 EPS for the quarter, topping the consensus estimate of ($0.77) by $1.03. Granite Construction had a return on equity of 24.90% and a net margin of 3.99%.The business had revenue of $912.47 million during the quarter, compared to analysts’ expectations of $782.26 million. During the same period in the previous year, the business earned $0.01 earnings per share. The firm’s revenue was up 30.4% on a year-over-year basis. On average, research analysts expect that Granite Construction Incorporated will post 6.14 EPS for the current fiscal year.

Granite Construction Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were issued a dividend of $0.13 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $0.52 annualized dividend and a dividend yield of 0.4%. Granite Construction’s payout ratio is presently 14.99%.

Analysts Set New Price Targets

GVA has been the subject of several analyst reports. Stephens assumed coverage on Granite Construction in a research note on Friday, June 26th. They issued an “overweight” rating and a $180.00 target price for the company. The Goldman Sachs Group reiterated a “sell” rating and set a $139.00 price target (down from $141.00) on shares of Granite Construction in a research report on Thursday, July 9th. Zacks Research upgraded shares of Granite Construction to a “hold” rating in a research report on Friday, May 29th. Oppenheimer initiated coverage on shares of Granite Construction in a research note on Thursday, May 28th. They set an “outperform” rating and a $170.00 price objective for the company. Finally, Weiss Ratings cut shares of Granite Construction from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Granite Construction has an average rating of “Moderate Buy” and a consensus target price of $161.00.

About Granite Construction

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.