Deprince Race & Zollo Inc. Has $30.82 Million Holdings in Granite Construction Incorporated (NYSE:GVA)

Deprince Race & Zollo Inc. decreased its position in Granite Construction Incorporated (NYSE:GVA) by 28.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 497,280 shares of the construction company’s stock after selling 202,053 shares during the quarter. Deprince Race & Zollo Inc. owned about 1.13% of Granite Construction worth $30,816,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Frontier Capital Management Co. LLC grew its position in shares of Granite Construction by 21.6% in the fourth quarter. Frontier Capital Management Co. LLC now owns 1,388,044 shares of the construction company’s stock valued at $70,596,000 after purchasing an additional 246,154 shares during the last quarter. Wasatch Advisors LP grew its position in shares of Granite Construction by 637.4% in the first quarter. Wasatch Advisors LP now owns 936,858 shares of the construction company’s stock valued at $53,523,000 after purchasing an additional 809,803 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Granite Construction by 8.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 639,849 shares of the construction company’s stock valued at $32,543,000 after purchasing an additional 49,610 shares during the last quarter. First Trust Advisors LP grew its position in shares of Granite Construction by 15.4% in the fourth quarter. First Trust Advisors LP now owns 533,324 shares of the construction company’s stock valued at $27,125,000 after purchasing an additional 71,099 shares during the last quarter. Finally, Hood River Capital Management LLC acquired a new position in shares of Granite Construction in the second quarter valued at approximately $29,143,000.

Granite Construction Stock Up 0.2 %

Shares of GVA opened at $79.74 on Thursday. Granite Construction Incorporated has a 52 week low of $33.74 and a 52 week high of $81.38. The stock has a market capitalization of $3.52 billion, a price-to-earnings ratio of 135.15 and a beta of 1.39. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.56 and a current ratio of 1.68. The stock has a fifty day moving average of $71.80 and a 200-day moving average of $63.51.

Granite Construction (NYSE:GVA) last announced its quarterly earnings results on Thursday, August 1st. The construction company reported $1.73 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.41. Granite Construction had a return on equity of 17.82% and a net margin of 2.35%. The company had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same period in the prior year, the company earned $1.03 EPS. Granite Construction’s revenue was up 20.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Granite Construction Incorporated will post 5.24 earnings per share for the current fiscal year.

Granite Construction Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a dividend of $0.13 per share. The ex-dividend date is Monday, September 30th. This represents a $0.52 dividend on an annualized basis and a yield of 0.65%. Granite Construction’s payout ratio is currently 88.14%.

Analyst Ratings Changes

Separately, The Goldman Sachs Group upped their target price on Granite Construction from $55.00 to $61.00 and gave the company a “sell” rating in a research report on Friday, August 2nd.

Insiders Place Their Bets

In other Granite Construction news, SVP Michael G. Tatusko sold 5,000 shares of the stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $69.22, for a total transaction of $346,100.00. Following the completion of the sale, the senior vice president now directly owns 21,943 shares in the company, valued at approximately $1,518,894.46. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.81% of the company’s stock.

About Granite Construction

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.