Simplicity Wealth LLC Takes Position in Granite Construction Incorporated $GVA

Simplicity Wealth LLC bought a new position in shares of Granite Construction Incorporated (NYSE:GVA) in the second quarter, HoldingsChannel reports. The institutional investor bought 4,913 shares of the construction company’s stock, valued at approximately $777,000.

Several other large investors have also made changes to their positions in GVA. Aster Capital Management DIFC Ltd lifted its stake in shares of Granite Construction by 512.8% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 239 shares of the construction company’s stock valued at $28,000 after acquiring an additional 200 shares during the period. Root Financial Partners LLC increased its position in Granite Construction by 30.9% in the first quarter. Root Financial Partners LLC now owns 381 shares of the construction company’s stock worth $46,000 after purchasing an additional 90 shares during the period. Torren Management LLC acquired a new stake in Granite Construction in the fourth quarter worth about $56,000. Quarry LP raised its holdings in Granite Construction by 1,417.6% during the 3rd quarter. Quarry LP now owns 516 shares of the construction company’s stock worth $57,000 after purchasing an additional 482 shares during the last quarter. Finally, Danske Bank A S bought a new stake in Granite Construction during the 3rd quarter worth about $77,000.

Insider Transactions at Granite Construction

In other Granite Construction news, SVP Michael G. Tatusko sold 7,500 shares of the company’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $141.00, for a total transaction of $1,057,500.00. Following the completion of the transaction, the senior vice president owned 29,787 shares of the company’s stock, valued at $4,199,967. This represents a 20.11% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Bradley Jay Williams sold 6,734 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $141.00, for a total transaction of $949,494.00. Following the transaction, the senior vice president directly owned 7,041 shares of the company’s stock, valued at $992,781. This represents a 48.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have bought 1,150 shares of company stock worth $156,636. 0.88% of the stock is currently owned by insiders.

Granite Construction Stock Performance

GVA opened at $126.80 on Monday. The business’s 50-day moving average price is $134.35 and its two-hundred day moving average price is $130.78. Granite Construction Incorporated has a 1 year low of $97.26 and a 1 year high of $162.08. The company has a market capitalization of $5.55 billion, a price-to-earnings ratio of -29.42 and a beta of 1.33. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.01 and a quick ratio of 0.94.

Granite Construction (NYSE:GVA) last issued its quarterly earnings results on Thursday, July 30th. The construction company reported $2.16 EPS for the quarter, missing analysts’ consensus estimates of $2.25 by ($0.09). The firm had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.41 billion. Granite Construction had a negative net margin of 3.32% and a positive return on equity of 27.83%. The business’s revenue for the quarter was up 28.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.42 earnings per share. Equities analysts expect that Granite Construction Incorporated will post 6.36 EPS for the current fiscal year.

Granite Construction Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were paid a $0.13 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $0.52 annualized dividend and a yield of 0.4%. Granite Construction’s payout ratio is presently -12.06%.

Analyst Ratings Changes

Several research analysts have recently issued reports on GVA shares. Wall Street Zen lowered shares of Granite Construction from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. Weiss Ratings downgraded shares of Granite Construction from a “hold (c)” rating to a “sell (d+)” rating in a research note on Tuesday, August 4th. Stephens started coverage on shares of Granite Construction in a report on Friday, June 26th. They issued an “overweight” rating and a $180.00 price objective on the stock. The Goldman Sachs Group reduced their price objective on shares of Granite Construction from $139.00 to $119.00 and set a “sell” rating on the stock in a research note on Friday, July 31st. Finally, Zacks Research raised shares of Granite Construction to a “hold” rating in a report on Friday, May 29th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $158.50.

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.