52,425 Shares in Granite Construction Incorporated (NYSE:GVA) Acquired by RPg Family Wealth Advisory LLC

RPg Family Wealth Advisory LLC acquired a new stake in shares of Granite Construction Incorporated (NYSE:GVA) in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund acquired 52,425 shares of the construction company’s stock, valued at approximately $4,163,000. RPg Family Wealth Advisory LLC owned 0.12% of Granite Construction at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Comerica Bank lifted its position in Granite Construction by 177.6% during the first quarter. Comerica Bank now owns 113,514 shares of the construction company’s stock valued at $6,485,000 after purchasing an additional 72,621 shares during the period. Castleark Management LLC lifted its holdings in shares of Granite Construction by 4.3% in the 1st quarter. Castleark Management LLC now owns 72,580 shares of the construction company’s stock valued at $4,146,000 after buying an additional 2,960 shares during the period. Highbridge Capital Management LLC acquired a new position in shares of Granite Construction in the 2nd quarter valued at about $4,513,000. Aristeia Capital L.L.C. purchased a new stake in shares of Granite Construction in the second quarter worth about $4,513,000. Finally, Raymond James & Associates grew its holdings in Granite Construction by 16.0% during the second quarter. Raymond James & Associates now owns 128,511 shares of the construction company’s stock worth $7,964,000 after acquiring an additional 17,738 shares during the period.

Granite Construction Stock Down 0.4 %

GVA stock opened at $98.78 on Wednesday. The firm’s fifty day moving average is $86.36 and its 200 day moving average is $73.26. The firm has a market cap of $4.32 billion, a PE ratio of 45.31 and a beta of 1.39. Granite Construction Incorporated has a one year low of $43.92 and a one year high of $100.57. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.46 and a current ratio of 1.56.

Granite Construction (NYSE:GVA) last released its quarterly earnings results on Thursday, October 31st. The construction company reported $2.05 earnings per share for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.46). Granite Construction had a return on equity of 19.04% and a net margin of 2.80%. The business had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.29 billion. During the same period in the previous year, the company posted $1.69 EPS. The business’s revenue for the quarter was up 14.2% compared to the same quarter last year. On average, research analysts forecast that Granite Construction Incorporated will post 4.98 EPS for the current year.

Granite Construction Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 0.53%. The ex-dividend date of this dividend was Monday, September 30th. Granite Construction’s payout ratio is presently 23.85%.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group boosted their price target on Granite Construction from $61.00 to $70.00 and gave the company a “sell” rating in a report on Wednesday, October 9th.

Granite Construction Profile

Granite Construction Incorporated operates as an infrastructure contractor in the United States. It operates through two segments: Construction and Materials segments. The Construction segment engages in the construction and rehabilitation of roads, pavement preservation, bridges, rail lines, airports, marine ports, dams, reservoirs, aqueducts, infrastructure, and site development for use by the public and water-related construction for municipal agencies, commercial water suppliers, industrial facilities, and energy companies; and construction of various complex projects, including infrastructure/site development, mining, public safety, tunnel, solar storage, and power related projects.