Granite Construction Incorporated $GVA Stock Holdings Trimmed by Walleye Capital LLC

Walleye Capital LLC lessened its holdings in shares of Granite Construction Incorporated (NYSE:GVA) by 27.6% in the first quarter, HoldingsChannel reports. The fund owned 102,694 shares of the construction company’s stock after selling 39,055 shares during the period. Walleye Capital LLC’s holdings in Granite Construction were worth $12,311,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Leuthold Group LLC raised its stake in shares of Granite Construction by 1,591.8% during the fourth quarter. Leuthold Group LLC now owns 45,223 shares of the construction company’s stock valued at $5,216,000 after purchasing an additional 42,550 shares in the last quarter. Fiduciary Financial Group LLC grew its position in Granite Construction by 574.6% in the 4th quarter. Fiduciary Financial Group LLC now owns 15,886 shares of the construction company’s stock valued at $1,832,000 after buying an additional 13,531 shares in the last quarter. SG Americas Securities LLC grew its position in Granite Construction by 3,388.3% in the 4th quarter. SG Americas Securities LLC now owns 192,622 shares of the construction company’s stock valued at $22,219,000 after buying an additional 187,100 shares in the last quarter. Louisiana State Employees Retirement System acquired a new position in Granite Construction during the 1st quarter valued at about $2,314,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Granite Construction by 32.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,586 shares of the construction company’s stock valued at $2,144,000 after buying an additional 4,506 shares during the period.

Granite Construction Price Performance

Shares of NYSE:GVA opened at $125.65 on Thursday. Granite Construction Incorporated has a one year low of $89.80 and a one year high of $162.08. The stock has a fifty day moving average of $138.55 and a 200-day moving average of $130.49. The company has a market capitalization of $5.50 billion, a PE ratio of 36.21 and a beta of 1.29. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.97 and a current ratio of 1.09.

Granite Construction (NYSE:GVA) last released its quarterly earnings data on Thursday, April 30th. The construction company reported $0.26 earnings per share for the quarter, topping the consensus estimate of ($0.77) by $1.03. The business had revenue of $912.47 million during the quarter, compared to analyst estimates of $782.26 million. Granite Construction had a return on equity of 24.90% and a net margin of 3.99%.The company’s revenue was up 30.4% compared to the same quarter last year. During the same period last year, the company posted $0.01 EPS. As a group, equities analysts anticipate that Granite Construction Incorporated will post 6.14 EPS for the current fiscal year.

Granite Construction Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a $0.13 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.4%. Granite Construction’s dividend payout ratio (DPR) is 14.99%.

Analyst Ratings Changes

GVA has been the subject of a number of research analyst reports. Zacks Research raised shares of Granite Construction to a “hold” rating in a research note on Friday, May 29th. Wall Street Zen lowered shares of Granite Construction from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. The Goldman Sachs Group reissued a “sell” rating and set a $139.00 target price (down from $141.00) on shares of Granite Construction in a report on Thursday, July 9th. Weiss Ratings cut Granite Construction from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday. Finally, Oppenheimer initiated coverage on Granite Construction in a research report on Thursday, May 28th. They issued an “outperform” rating and a $170.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $161.00.

Insider Buying and Selling

In other Granite Construction news, SVP Michael G. Tatusko sold 7,500 shares of the company’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $141.00, for a total transaction of $1,057,500.00. Following the completion of the sale, the senior vice president directly owned 29,787 shares of the company’s stock, valued at approximately $4,199,967. This represents a 20.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John Timothy Romer bought 375 shares of the firm’s stock in a transaction on Monday, June 15th. The stock was 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 owned 2,801 shares of the company’s stock, valued at approximately $402,363.65. This trade represents a 15.46% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.88% of the stock is currently owned by company insiders.

Granite Construction Profile

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.