Granite Construction Incorporated (NYSE:GVA) Shares Bought by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP grew its stake in shares of Granite Construction Incorporated (NYSE:GVA – Get Rating) by 0.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 2,674,753 shares of the construction company’s stock after acquiring an additional 20,130 shares during the period. Dimensional Fund Advisors LP owned about 6.12% of Granite Construction worth $93,804,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of GVA. Ronald Blue Trust Inc. lifted its holdings in shares of 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 purchasing an additional 554 shares in the last quarter. Quadrant Capital Group LLC lifted its holdings in shares of Granite Construction by 351.6% in the third 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 purchased a new stake in shares of Granite Construction in the second quarter valued at $107,000. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Granite Construction by 301.0% in the fourth 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 in the last quarter. Finally, Captrust Financial Advisors lifted its holdings in shares of Granite Construction by 38.0% in the first quarter. Captrust Financial Advisors now owns 5,808 shares of the construction company’s stock valued at $191,000 after purchasing an additional 1,598 shares in the last quarter. Institutional investors and hedge funds own 98.77% of the company’s stock.

Granite Construction Trading Down 0.7 %

Granite Construction stock opened at $36.85 on Tuesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.72 and a quick ratio of 1.59. The company has a market capitalization of $1.62 billion, a price-to-earnings ratio of 20.94 and a beta of 1.39. Granite Construction Incorporated has a one year low of $25.35 and a one year high of $44.15. The company’s fifty day moving average price is $38.50 and its two-hundred day moving average price is $38.32.

Granite Construction Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 14th. Shareholders of record on Friday, March 31st were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.41%. The ex-dividend date was Thursday, March 30th. Granite Construction’s payout ratio is 29.55%.

Wall Street Analyst Weigh In

GVA has been the subject of a number of research analyst reports. DA Davidson increased their target price on Granite Construction from $50.00 to $55.00 in a report on Friday, February 17th. 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. TheStreet lowered Granite Construction from a “b-” rating to a “c+” rating in a report on Wednesday, May 3rd. Finally, StockNews.com started coverage on shares of Granite Construction in a research report on Thursday, May 18th. They set a “hold” rating on the stock.

About Granite Construction

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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.