Universal Beteiligungs und Servicegesellschaft mbH Buys Shares of 2,793 Granite Construction Incorporated (NYSE:GVA)

Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Granite Construction Incorporated (NYSE:GVA) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 2,793 shares of the construction company’s stock, valued at approximately $211,000.

Other hedge funds have also recently made changes to their positions in the company. Federated Hermes Inc. bought a new position in Granite Construction during the 4th quarter valued at approximately $26,000. Larson Financial Group LLC grew its stake in shares of Granite Construction by 214.2% in the first quarter. Larson Financial Group LLC now owns 377 shares of the construction company’s stock worth $28,000 after acquiring an additional 257 shares during the last quarter. Quarry LP increased its holdings in shares of Granite Construction by 68.4% during the fourth quarter. Quarry LP now owns 325 shares of the construction company’s stock valued at $29,000 after acquiring an additional 132 shares in the last quarter. Rothschild Investment LLC raised its position in shares of Granite Construction by 80.3% in the 1st quarter. Rothschild Investment LLC now owns 640 shares of the construction company’s stock worth $48,000 after purchasing an additional 285 shares during the last quarter. Finally, CWM LLC boosted its stake in Granite Construction by 26.5% in the 1st quarter. CWM LLC now owns 674 shares of the construction company’s stock worth $51,000 after purchasing an additional 141 shares in the last quarter.

Granite Construction Price Performance

Shares of GVA opened at $92.69 on Tuesday. The company has a market capitalization of $4.05 billion, a P/E ratio of 38.62 and a beta of 1.39. Granite Construction Incorporated has a twelve month low of $65.13 and a twelve month high of $105.20. The company has a quick ratio of 1.44, a current ratio of 1.57 and a debt-to-equity ratio of 0.71. The firm has a 50 day moving average of $92.09 and a 200 day moving average of $85.17.

Granite Construction Announces Dividend

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

Wall Street Analysts Forecast Growth

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

Insider Activity

In related news, SVP Brian R. Dowd sold 2,025 shares of the stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $91.76, for a total transaction of $185,814.00. Following the sale, the senior vice president directly owned 18,819 shares of the company’s stock, valued at $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 available at the SEC website. 0.81% of the stock is currently owned by insiders.

Granite Construction Company 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.