GSA Capital Partners LLP Increases Position in Granite Construction Incorporated (NYSE:GVA)

GSA Capital Partners LLP increased its stake in shares of Granite Construction Incorporated (NYSE:GVA) by 112.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,279 shares of the construction company’s stock after purchasing an additional 5,981 shares during the quarter. GSA Capital Partners LLP’s holdings in Granite Construction were worth $850,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Mariner LLC lifted its position in shares of Granite Construction by 1.0% during the fourth quarter. Mariner LLC now owns 12,408 shares of the construction company’s stock valued at $1,088,000 after buying an additional 119 shares during the last quarter. Quarry LP grew its position in shares of Granite Construction by 68.4% in the 4th quarter. Quarry LP now owns 325 shares of the construction company’s stock worth $29,000 after buying an additional 132 shares during the last quarter. CWM LLC raised its stake in shares of Granite Construction by 26.5% during the 1st quarter. CWM LLC now owns 674 shares of the construction company’s stock worth $51,000 after acquiring an additional 141 shares in the last quarter. OneDigital Investment Advisors LLC lifted its position in Granite Construction by 3.4% during the fourth quarter. OneDigital Investment Advisors LLC now owns 4,299 shares of the construction company’s stock valued at $377,000 after acquiring an additional 142 shares during the last quarter. Finally, Summit Investment Advisors Inc. boosted its stake in Granite Construction by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 4,607 shares of the construction company’s stock valued at $404,000 after acquiring an additional 146 shares in the last quarter.

Granite Construction Stock Down 2.3%

Shares of GVA stock opened at $92.32 on Friday. The stock’s fifty day moving average price is $92.00 and its 200 day moving average price is $85.25. Granite Construction Incorporated has a 1-year low of $65.13 and a 1-year high of $105.20. The company has a market cap of $4.04 billion, a price-to-earnings ratio of 38.47 and a beta of 1.32. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.57 and a quick ratio of 1.44.

Granite Construction (NYSE:GVA) last issued its quarterly earnings results on Thursday, May 1st. The construction company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.44. The business had revenue of $699.55 million for the quarter, compared to analyst estimates of $706.15 million. Granite Construction had a return on equity of 21.40% and a net margin of 3.07%. The business’s revenue was up 4.0% compared to the same quarter last year. On average, research analysts expect that Granite Construction Incorporated will post 5.49 earnings per share for the current fiscal year.

Granite Construction Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were paid a dividend of $0.13 per share. The ex-dividend date was Monday, June 30th. This represents a $0.52 dividend on an annualized basis and a yield of 0.6%. Granite Construction’s dividend payout ratio is presently 21.67%.

Insider Transactions at Granite Construction

In other Granite Construction news, SVP Brian R. Dowd sold 2,025 shares of the firm’s stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $91.76, for a total value of $185,814.00. Following the completion of the transaction, the senior vice president owned 18,819 shares of the company’s stock, valued at approximately $1,726,831.44. This trade represents a 9.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.81% of the company’s stock.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group upped their price target on Granite Construction from $69.00 to $76.00 and gave the stock a “sell” rating in a research report on Monday, May 5th.

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.