Swiss National Bank Decreases Stock Position in Granite Construction Incorporated (NYSE:GVA)

Swiss National Bank cut its stake in Granite Construction Incorporated (NYSE:GVA) by 11.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 94,300 shares of the construction company’s stock after selling 12,100 shares during the period. Swiss National Bank owned about 0.21% of Granite Construction worth $3,874,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of GVA. Parkside Financial Bank & Trust raised its stake in Granite Construction by 472.3% in the first quarter. Parkside Financial Bank & Trust now owns 847 shares of the construction company’s stock valued at $35,000 after buying an additional 699 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in Granite Construction by 77.3% in the first quarter. Tower Research Capital LLC TRC now owns 1,518 shares of the construction company’s stock valued at $63,000 after buying an additional 662 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in Granite Construction by 60.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,088 shares of the construction company’s stock valued at $86,000 after buying an additional 787 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of Granite Construction during the second quarter worth about $107,000. Finally, Advisors Preferred LLC acquired a new stake in shares of Granite Construction during the first quarter worth about $135,000.

Granite Construction Stock Performance

Shares of GVA stock opened at $42.34 on Friday. Granite Construction Incorporated has a 52-week low of $25.35 and a 52-week high of $44.15. The stock’s 50-day moving average price is $41.21 and its 200 day moving average price is $40.04. The stock has a market capitalization of $1.86 billion, a PE ratio of 43.20 and a beta of 1.40. The company has a quick ratio of 1.61, a current ratio of 1.72 and a debt-to-equity ratio of 0.49.

Granite Construction (NYSE:GVA) last announced its quarterly earnings data on Thursday, July 27th. The construction company reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.20. Granite Construction had a return on equity of 11.88% and a net margin of 1.70%. The company had revenue of $898.55 million for the quarter. As a group, equities research analysts forecast that Granite Construction Incorporated will post 2.84 EPS for the current year.

Granite Construction Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Friday, June 30th were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.23%. The ex-dividend date was Thursday, June 29th. Granite Construction’s dividend payout ratio (DPR) is 53.06%.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on Granite Construction in a research report on Thursday, August 17th. They set a “hold” rating on the stock.

Granite Construction Company Profile

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.