Mirae Asset Global Investments Co. Ltd. Has $11.09 Million Stake in Granite Construction Incorporated (NYSE:GVA)

Mirae Asset Global Investments Co. Ltd. decreased its stake in Granite Construction Incorporated (NYSE:GVA – Get Rating) by 2.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 316,130 shares of the construction company’s stock after selling 9,586 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned 0.72% of Granite Construction worth $11,087,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Ronald Blue Trust Inc. lifted its stake in Granite Construction by 85.6% in the fourth quarter. Ronald Blue Trust Inc. now owns 1,201 shares of the construction company’s stock valued at $30,000 after buying an additional 554 shares during the period. Quadrant Capital Group LLC raised its position in shares of Granite Construction by 351.6% during the third quarter. Quadrant Capital Group LLC now owns 2,601 shares of the construction company’s stock worth $66,000 after purchasing an additional 2,025 shares during the period. Point72 Hong Kong Ltd acquired a new stake in shares of Granite Construction during the second quarter worth about $107,000. Benjamin F. Edwards & Company Inc. raised its position in shares of Granite Construction by 301.0% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 4,130 shares of the construction company’s stock worth $145,000 after purchasing an additional 3,100 shares during the period. Finally, Captrust Financial Advisors raised its position in shares of Granite Construction by 38.0% during the first quarter. Captrust Financial Advisors now owns 5,808 shares of the construction company’s stock worth $191,000 after purchasing an additional 1,598 shares during the period. Institutional investors and hedge funds own 98.77% of the company’s stock.

Granite Construction Stock Down 0.9 %

GVA stock opened at $37.10 on Friday. The company has a quick ratio of 1.59, a current ratio of 1.72 and a debt-to-equity ratio of 0.30. The business has a 50 day moving average price of $38.57 and a two-hundred day moving average price of $38.27. The company has a market cap of $1.63 billion, a price-to-earnings ratio of 21.08 and a beta of 1.39. Granite Construction Incorporated has a twelve month low of $25.35 and a twelve month high of $44.15.

Granite Construction (NYSE:GVA – Get Rating) last posted its quarterly earnings results on Thursday, February 16th. The construction company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.17. The firm had revenue of $789.21 million during the quarter. Granite Construction had a return on equity of 8.97% and a net margin of 2.86%. Analysts anticipate that Granite Construction Incorporated will post 2.55 EPS for the current fiscal year.

Granite Construction Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 14th. Shareholders of record on Friday, March 31st were paid a $0.13 dividend. The ex-dividend date was Thursday, March 30th. This represents a $0.52 dividend on an annualized basis and a yield of 1.40%. Granite Construction’s dividend payout ratio is 29.55%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on GVA shares. TheStreet lowered Granite Construction from a “b-” rating to a “c+” rating in a research report on Wednesday, May 3rd. StockNews.com initiated coverage on Granite Construction in a report on Thursday. They set a “hold” rating for the company. DA Davidson increased their price objective on Granite Construction from $50.00 to $55.00 in a report on Friday, February 17th. Finally, The Goldman Sachs Group increased their price objective on Granite Construction from $32.00 to $36.00 and gave the stock a “sell” rating in a report on Tuesday, February 21st.

Granite Construction Company Profile

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Granite Construction, Inc is a holding company. It operates as an infrastructure contractor and a construction materials company in the United States. It operates through the following segments: Construction and Materials. The Construction segment is involved 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.