Fox Run Management L.L.C. Buys New Position in Granite Construction Incorporated $GVA

Fox Run Management L.L.C. purchased a new position in shares of Granite Construction Incorporated (NYSE:GVA) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 18,390 shares of the construction company’s stock, valued at approximately $2,016,000. Granite Construction makes up approximately 0.3% of Fox Run Management L.L.C.’s portfolio, making the stock its 29th largest position.

Other large investors also recently bought and sold shares of the company. Frontier Capital Management Co. LLC raised 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 valued at $128,111,000 after purchasing 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 valued at $114,179,000 after purchasing an additional 46,552 shares in the last quarter. Geode Capital Management LLC increased its stake in Granite Construction by 0.8% during the 2nd quarter. Geode Capital Management LLC now owns 1,037,916 shares of the construction company’s stock worth $97,066,000 after buying an additional 7,979 shares during the period. Hood River Capital Management LLC lifted its holdings in 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 worth $60,510,000 after buying an additional 173,237 shares in the last quarter. Finally, Boston Partners boosted its position in Granite Construction by 0.3% in the 2nd quarter. Boston Partners now owns 589,212 shares of the construction company’s stock valued at $55,190,000 after buying an additional 2,003 shares during the last quarter.

Granite Construction Price Performance

Shares of NYSE GVA opened at $136.24 on Wednesday. The company has a current ratio of 1.22, a quick ratio of 1.13 and a debt-to-equity ratio of 0.79. The company has a market capitalization of $5.93 billion, a price-to-earnings ratio of 37.22 and a beta of 1.34. Granite Construction Incorporated has a twelve month low of $69.08 and a twelve month high of $136.97. The business has a 50 day simple moving average of $123.11 and a 200-day simple moving average of $112.72.

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

Granite Construction Dividend Announcement

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

Analyst Ratings Changes

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

About Granite Construction

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.