Pictet Asset Management SA Buys Shares of 5,165 Granite Construction Incorporated (NYSE:GVA)

Pictet Asset Management SA bought a new stake in Granite Construction Incorporated (NYSE:GVAFree Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 5,165 shares of the construction company’s stock, valued at approximately $212,000.

Other hedge funds have also recently made changes to their positions in the company. Moors & Cabot Inc. bought a new stake in shares of Granite Construction in the fourth quarter valued at $243,000. Mesirow Institutional Investment Management Inc. bought a new stake in shares of Granite Construction in the first quarter valued at $4,910,000. Fisher Asset Management LLC bought a new stake in shares of Granite Construction in the first quarter valued at $7,038,000. Advisors Preferred LLC bought a new stake in shares of Granite Construction in the first quarter valued at $135,000. Finally, Peregrine Asset Advisers Inc. bought a new stake in shares of Granite Construction in the first quarter valued at $1,480,000.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. StockNews.com assumed coverage on Granite Construction in a report on Thursday, August 17th. They set a “hold” rating on the stock. TheStreet cut Granite Construction from a “b-” rating to a “c+” rating in a report on Wednesday, May 3rd.

Read Our Latest Stock Report on Granite Construction

Granite Construction Stock Performance

Shares of GVA opened at $41.05 on Thursday. The stock’s 50-day simple moving average is $41.13 and its 200 day simple moving average is $40.03. The stock has a market capitalization of $1.80 billion, a price-to-earnings ratio of 41.89 and a beta of 1.40. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.61 and a current ratio of 1.72. Granite Construction Incorporated has a 52-week low of $25.35 and a 52-week high of $44.15.

Granite Construction (NYSE:GVAGet Free Report) last released its quarterly earnings results on Thursday, July 27th. The construction company reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.20. Granite Construction had a return on equity of 11.88% and a net margin of 1.70%. The firm had revenue of $898.55 million for the quarter. Research analysts forecast that Granite Construction Incorporated will post 2.84 EPS for the current fiscal year.

Granite Construction Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 14th. Shareholders of record on Friday, June 30th were issued a $0.13 dividend. The ex-dividend date of this dividend was Thursday, June 29th. This represents a $0.52 annualized dividend and a dividend yield of 1.27%. Granite Construction’s payout ratio is currently 53.06%.

About Granite Construction

(Free Report)

Granite Construction Incorporated operates as an infrastructure contractor and a construction materials producer in the United States. The company operates through two segments, Construction and Materials segments. The Construction segment engages 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.

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Institutional Ownership by Quarter for Granite Construction (NYSE:GVA)

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