D.A. Davidson & CO. Has $5.18 Million Stake in Granite Construction Incorporated (NYSE:GVA)

D.A. Davidson & CO. reduced its holdings in Granite Construction Incorporated (NYSE:GVA) by 0.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 65,384 shares of the construction company’s stock after selling 313 shares during the quarter. D.A. Davidson & CO. owned about 0.15% of Granite Construction worth $5,184,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in GVA. Comerica Bank increased its position in Granite Construction by 177.6% in the 1st quarter. Comerica Bank now owns 113,514 shares of the construction company’s stock worth $6,485,000 after buying an additional 72,621 shares during the period. Highbridge Capital Management LLC bought a new stake in Granite Construction in the 2nd quarter valued at $4,513,000. Aristeia Capital L.L.C. bought a new position in shares of Granite Construction during the 2nd quarter worth about $4,513,000. Raymond James & Associates raised its position in shares of Granite Construction by 16.0% during the second quarter. Raymond James & Associates now owns 128,511 shares of the construction company’s stock valued at $7,964,000 after buying an additional 17,738 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co lifted its stake in shares of Granite Construction by 2.2% in the first quarter. CANADA LIFE ASSURANCE Co now owns 37,691 shares of the construction company’s stock valued at $2,153,000 after buying an additional 811 shares during the period.

Granite Construction Stock Down 0.1 %

Shares of NYSE:GVA opened at $98.67 on Thursday. The company has a market capitalization of $4.31 billion, a PE ratio of 45.26 and a beta of 1.39. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.46 and a current ratio of 1.56. The company’s fifty day moving average is $86.36 and its 200-day moving average is $73.26. Granite Construction Incorporated has a 52 week low of $43.92 and a 52 week high of $100.57.

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

Granite Construction Dividend Announcement

The firm 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. The ex-dividend date was Monday, September 30th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.53%. Granite Construction’s dividend payout ratio is 23.85%.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group upped 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.