Granite Construction Incorporated $GVA Shares Acquired by SG Americas Securities LLC

SG Americas Securities LLC lifted its position in Granite Construction Incorporated (NYSE:GVA) by 2.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 197,987 shares of the construction company’s stock after buying an additional 5,365 shares during the quarter. SG Americas Securities LLC owned approximately 0.46% of Granite Construction worth $23,735,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of GVA. Aster Capital Management DIFC Ltd boosted its holdings in Granite Construction by 512.8% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 239 shares of the construction company’s stock valued at $28,000 after acquiring an additional 200 shares during the period. Newbridge Financial Services Group Inc. purchased a new stake in Granite Construction during the fourth quarter worth about $29,000. Spire Wealth Management acquired a new stake in shares of Granite Construction during the fourth quarter worth about $46,000. Torren Management LLC acquired a new stake in shares of Granite Construction during the fourth quarter worth about $56,000. Finally, Quarry LP boosted its stake in shares of Granite Construction by 1,417.6% in the third quarter. Quarry LP now owns 516 shares of the construction company’s stock valued at $57,000 after purchasing an additional 482 shares during the period.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Weiss Ratings downgraded shares of Granite Construction from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, June 18th. Zacks Research raised 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 issued an “outperform” rating and a $170.00 price target for the company. Finally, Wall Street Zen lowered Granite Construction from a “buy” rating to a “hold” rating in a research report on Saturday, May 30th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Granite Construction presently has an average rating of “Hold” and an average target price of $149.67.

Insiders Place Their Bets

In other Granite Construction news, Director John Timothy Romer bought 375 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The shares were purchased at an average price of $143.65 per share, with a total value of $53,868.75. Following the completion of the acquisition, the director directly owned 2,801 shares of the company’s stock, valued at $402,363.65. This represents a 15.46% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Bradley Jay Williams sold 6,734 shares of Granite Construction stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $141.00, for a total value of $949,494.00. Following the sale, the senior vice president directly owned 7,041 shares of the company’s stock, valued at $992,781. This trade represents a 48.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 40,885 shares of company stock worth $5,155,010. 0.88% of the stock is owned by corporate insiders.

Granite Construction Stock Up 1.0%

Shares of NYSE:GVA opened at $151.51 on Thursday. The firm’s 50 day moving average price is $135.95 and its 200 day moving average price is $127.33. The stock has a market cap of $6.63 billion, a price-to-earnings ratio of 43.66 and a beta of 1.32. Granite Construction Incorporated has a fifty-two week low of $89.80 and a fifty-two week high of $155.22. The company has a quick ratio of 0.97, a current ratio of 1.09 and a debt-to-equity ratio of 0.80.

Granite Construction (NYSE:GVA) last posted its quarterly 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 net margin of 3.99% and a return on equity of 24.90%. The company had revenue of $912.47 million during the quarter, compared to analysts’ expectations of $782.26 million. During the same quarter in the previous year, the business posted $0.01 EPS. The firm’s revenue was up 30.4% on a year-over-year basis. As a group, equities research analysts predict that Granite Construction Incorporated will post 6.14 earnings per share for the current fiscal year.

Granite Construction Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be paid a dividend of $0.13 per share. The ex-dividend date is Tuesday, June 30th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.3%. Granite Construction’s payout ratio is presently 14.99%.

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.