Granite Construction Incorporated $GVA Shares Sold by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ lowered its stake in Granite Construction Incorporated (NYSE:GVA) by 62.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,945 shares of the construction company’s stock after selling 6,600 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Granite Construction were worth $433,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in GVA. Frontier Capital Management Co. LLC increased its stake in shares of Granite Construction by 14.3% during the second quarter. Frontier Capital Management Co. LLC now owns 1,370,029 shares of the construction company’s stock worth $128,111,000 after buying an additional 171,904 shares during the period. First Trust Advisors LP grew its holdings in Granite Construction by 4.0% during the 2nd quarter. First Trust Advisors LP now owns 1,221,031 shares of the construction company’s stock worth $114,179,000 after acquiring an additional 46,552 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Granite Construction by 0.8% in the 2nd quarter. Geode Capital Management LLC now owns 1,037,916 shares of the construction company’s stock valued at $97,066,000 after purchasing an additional 7,979 shares during the last quarter. Hood River Capital Management LLC raised its holdings in shares of Granite Construction by 36.6% in the 2nd quarter. Hood River Capital Management LLC now owns 647,093 shares of the construction company’s stock valued at $60,510,000 after purchasing an additional 173,237 shares in the last quarter. Finally, Boston Partners lifted its position in shares of Granite Construction by 0.3% during the 2nd quarter. Boston Partners now owns 589,212 shares of the construction company’s stock worth $55,190,000 after purchasing an additional 2,003 shares during the last quarter.

Granite Construction Trading Up 1.6%

NYSE:GVA opened at $135.78 on Monday. The stock’s 50 day moving average price is $122.34 and its 200 day moving average price is $112.27. The company has a market capitalization of $5.91 billion, a PE ratio of 37.10 and a beta of 1.34. The company has a quick ratio of 1.13, a current ratio of 1.22 and a debt-to-equity ratio of 0.79. Granite Construction Incorporated has a 52-week low of $69.08 and a 52-week high of $136.79.

Granite Construction (NYSE:GVA) last issued its quarterly earnings data on Thursday, February 12th. The construction company reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.06. The company had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Granite Construction had a return on equity of 24.10% and a net margin of 4.36%.The firm’s revenue for the quarter was up 19.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.23 earnings per share. On average, research analysts anticipate that Granite Construction Incorporated will post 5.49 EPS for the current year.

Granite Construction Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be paid a dividend of $0.13 per share. The ex-dividend date is Tuesday, March 31st. This represents a $0.52 dividend on an annualized basis and a yield of 0.4%. Granite Construction’s dividend payout ratio is currently 14.21%.

Analysts Set New Price Targets

Several equities analysts recently commented on GVA shares. Weiss Ratings reissued a “buy (b)” rating on shares of Granite Construction in a report on Monday, December 29th. Zacks Research upgraded Granite Construction from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. Wall Street Zen lowered Granite Construction from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. The Goldman Sachs Group upped their price target on Granite Construction from $109.00 to $124.00 and gave the company a “neutral” rating in a report on Wednesday, January 28th. Finally, DA Davidson increased their price target on shares of Granite Construction from $130.00 to $155.00 and gave the company a “buy” rating in a research note on Friday, February 13th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Granite Construction has an average rating of “Moderate Buy” and a consensus target price of $139.50.

Granite Construction Company Profile

Granite Construction Inc is a publicly traded heavy civil contractor and construction materials producer based in Watsonville, California. The company specializes in delivering large-scale infrastructure projects for government and private clients, focusing on the development, rehabilitation and maintenance of transportation, water resource and industrial facilities. Its turnkey solutions span the full project lifecycle, from preconstruction and design-build to construction management and facilities maintenance.

In its construction segment, Granite undertakes highway and bridge building, airport runway and taxiway construction, marine terminal and port improvements, dam and reservoir projects, transit systems and underground utilities.