2,400 Shares in Granite Construction Incorporated (NYSE:GVA) Acquired by R Squared Ltd

R Squared Ltd acquired a new stake in Granite Construction Incorporated (NYSE:GVA) in the fourth quarter, according to its most recent filing with the SEC. The fund acquired 2,400 shares of the construction company’s stock, valued at approximately $211,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Blue Trust Inc. grew its position in shares of Granite Construction by 66.4% in the third quarter. Blue Trust Inc. now owns 902 shares of the construction company’s stock valued at $72,000 after purchasing an additional 360 shares in the last quarter. KBC Group NV boosted its stake in Granite Construction by 26.6% in the 4th quarter. KBC Group NV now owns 1,751 shares of the construction company’s stock worth $154,000 after purchasing an additional 368 shares during the period. GAMMA Investing LLC grew its holdings in Granite Construction by 82.5% during the 3rd quarter. GAMMA Investing LLC now owns 2,007 shares of the construction company’s stock valued at $159,000 after buying an additional 907 shares in the last quarter. Point72 DIFC Ltd bought a new stake in shares of Granite Construction during the third quarter valued at about $203,000. Finally, CIBC Asset Management Inc purchased a new stake in shares of Granite Construction in the third quarter worth about $214,000.

Wall Street Analyst Weigh In

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

Granite Construction Trading Down 0.9 %

Shares of GVA stock opened at $85.45 on Wednesday. The company has a market capitalization of $3.74 billion, a PE ratio of 39.20 and a beta of 1.43. Granite Construction Incorporated has a 52-week low of $43.92 and a 52-week high of $105.20. The business’s fifty day moving average is $92.89 and its 200 day moving average is $82.95. 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 the consensus estimate of $2.51 by ($0.46). Granite Construction had a net margin of 2.80% and a return on equity of 19.04%. The business had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.29 billion. During the same period in the previous year, the business earned $1.69 EPS. The business’s revenue was up 14.2% on a year-over-year basis. On average, equities research analysts anticipate that Granite Construction Incorporated will post 4.98 EPS for the current fiscal year.

Granite Construction Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a dividend of $0.13 per share. The ex-dividend date was Tuesday, December 31st. This represents a $0.52 annualized dividend and a yield of 0.61%. Granite Construction’s payout ratio is presently 23.85%.

About Granite Construction

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.