Robbins Farley Grows Stock Holdings in Granite Construction Incorporated (NYSE:GVA)

Robbins Farley raised its position in Granite Construction Incorporated (NYSE:GVA) by 23.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 52,848 shares of the construction company’s stock after acquiring an additional 10,064 shares during the period. Granite Construction makes up approximately 2.2% of Robbins Farley’s holdings, making the stock its 19th biggest holding. Robbins Farley’s holdings in Granite Construction were worth $4,635,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Longboard Asset Management LP purchased a new stake in Granite Construction in the fourth quarter valued at about $223,000. Precision Wealth Strategies LLC acquired a new position in shares of Granite Construction during the fourth quarter valued at about $215,000. R Squared Ltd purchased a new position in shares of Granite Construction in the 4th quarter valued at approximately $211,000. Pacer Advisors Inc. acquired a new stake in Granite Construction in the 4th quarter worth approximately $92,154,000. Finally, KBC Group NV grew its position in Granite Construction by 26.6% during 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 last quarter.

Granite Construction Stock Down 1.6 %

Granite Construction stock opened at $86.70 on Tuesday. The business’s 50-day simple moving average is $92.03 and its two-hundred day simple moving average is $83.59. 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 has a market cap of $3.79 billion, a PE ratio of 39.77 and a beta of 1.42. Granite Construction Incorporated has a fifty-two week low of $43.92 and a fifty-two week high of $105.20.

Granite Construction Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a $0.13 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.52 dividend on an annualized basis and a yield of 0.60%. Granite Construction’s dividend payout ratio is currently 23.85%.

Analyst Ratings Changes

Separately, The Goldman Sachs Group raised their price target on shares of Granite Construction from $61.00 to $70.00 and gave the stock 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.