Granite Construction Incorporated (NYSE:GVA) Stock Holdings Reduced by Swiss National Bank

Swiss National Bank reduced its position in Granite Construction Incorporated (NYSE:GVA – Get Rating) by 1.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 106,400 shares of the construction company’s stock after selling 1,200 shares during the period. Swiss National Bank owned about 0.24% of Granite Construction worth $3,731,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GVA. Ronald Blue Trust Inc. increased its holdings 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 worth $30,000 after buying an additional 554 shares during the last quarter. Quadrant Capital Group LLC raised its holdings in shares of Granite Construction by 351.6% during the 3rd quarter. Quadrant Capital Group LLC now owns 2,601 shares of the construction company’s stock valued at $66,000 after purchasing an additional 2,025 shares in the last quarter. Point72 Hong Kong Ltd bought a new position in shares of Granite Construction during the 2nd quarter valued at $107,000. Benjamin F. Edwards & Company Inc. lifted its stake in shares of Granite Construction by 301.0% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 4,130 shares of the construction company’s stock valued at $145,000 after purchasing an additional 3,100 shares during the last quarter. Finally, Captrust Financial Advisors boosted its holdings in Granite Construction by 38.0% in 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 in the last quarter. 98.77% of the stock is owned by hedge funds and other institutional investors.

Granite Construction Price Performance

NYSE GVA opened at $37.10 on Monday. The stock has a 50-day simple moving average of $38.57 and a 200 day simple moving average of $38.30. Granite Construction Incorporated has a twelve month low of $25.35 and a twelve month high of $44.15. The stock has a market capitalization of $1.63 billion, a PE ratio of 21.08 and a beta of 1.39. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.59 and a current ratio of 1.72.

Granite Construction (NYSE:GVA – Get Rating) last issued its quarterly earnings results on Thursday, February 16th. The construction company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.17. The company 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%. Research analysts anticipate that Granite Construction Incorporated will post 2.55 EPS for the current year.

Granite Construction Announces Dividend

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

Analyst Upgrades and Downgrades

GVA has been the subject of a number of analyst reports. TheStreet cut Granite Construction from a “b-” rating to a “c+” rating in a research report on Wednesday, May 3rd. DA Davidson upped their target price on Granite Construction from $50.00 to $55.00 in a research report on Friday, February 17th. The Goldman Sachs Group increased their price target on Granite Construction from $32.00 to $36.00 and gave the company a “sell” rating in a report on Tuesday, February 21st. Finally, StockNews.com initiated coverage on shares of Granite Construction in a research note on Thursday. They issued a “hold” rating for the company.

Granite Construction 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.