GAMMA Investing LLC Makes New Investment in Granite Construction Incorporated (NYSE:GVA)

GAMMA Investing LLC purchased a new position in shares of Granite Construction Incorporated (NYSE:GVA) during the fourth quarter, Holdings Channel.com reports. The firm purchased 841 shares of the construction company’s stock, valued at approximately $43,000.

Other large investors also recently modified their holdings of the company. Exchange Traded Concepts LLC acquired a new position in shares of Granite Construction during the 3rd quarter valued at $27,000. Toth Financial Advisory Corp increased its stake in Granite Construction by 35.1% in the fourth quarter. Toth Financial Advisory Corp now owns 2,500 shares of the construction company’s stock valued at $127,000 after purchasing an additional 650 shares in the last quarter. Caxton Associates LP bought a new stake in Granite Construction in the third quarter valued at $241,000. HighTower Advisors LLC acquired a new position in shares of Granite Construction during the third quarter valued at about $279,000. Finally, Raymond James Financial Services Advisors Inc. bought a new position in shares of Granite Construction during the 4th quarter worth about $290,000.

Granite Construction Trading Up 3.7 %

GVA opened at $59.39 on Friday. Granite Construction Incorporated has a fifty-two week low of $33.74 and a fifty-two week high of $59.61. The firm has a market capitalization of $2.62 billion, a PE ratio of 78.14 and a beta of 1.45. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.60 and a quick ratio of 1.49. The company’s 50-day moving average is $54.63 and its 200 day moving average is $49.05.

Granite Construction (NYSE:GVA) last released its quarterly earnings results on Thursday, February 22nd. The construction company reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.02). Granite Construction had a net margin of 1.24% and a return on equity of 14.15%. The company had revenue of $933.70 million during the quarter. During the same period in the prior year, the firm earned $0.56 earnings per share. As a group, research analysts predict that Granite Construction Incorporated will post 4.29 earnings per share for the current fiscal year.

Granite Construction Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date was Wednesday, March 27th. Granite Construction’s payout ratio is 68.42%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on GVA shares. DA Davidson upped their price target on Granite Construction from $60.00 to $64.00 and gave the stock a “buy” rating in a research note on Tuesday, February 27th. The Goldman Sachs Group upped their target price on Granite Construction from $44.00 to $50.00 and gave the stock a “sell” rating in a research report on Tuesday, April 16th.

Insider Buying and Selling at Granite Construction

In other news, Director Louis E. Caldera sold 1,263 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $50.00, for a total value of $63,150.00. Following the completion of the transaction, the director now directly owns 8,528 shares of the company’s stock, valued at $426,400. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.54% of the company’s stock.

Granite Construction Profile

Granite Construction Incorporated operates as an infrastructure contractor in the United States. It 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 and water-related construction for municipal agencies, commercial water suppliers, industrial facilities, and energy companies; and construction of various complex projects, including infrastructure/site development, mining, public safety, tunnel, solar storage, and power related projects.