4,700 Shares in Granite Construction Incorporated $GVA Acquired by Teton Advisors LLC

Teton Advisors LLC purchased a new stake in Granite Construction Incorporated (NYSE:GVA) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 4,700 shares of the construction company’s stock, valued at approximately $515,000.

Other institutional 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% in the 2nd quarter. Frontier Capital Management Co. LLC now owns 1,370,029 shares of the construction company’s stock valued at $128,111,000 after acquiring an additional 171,904 shares during the period. First Trust Advisors LP boosted its position 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 purchasing an additional 46,552 shares during the period. Geode Capital Management LLC increased its holdings in 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 in the last quarter. Hood River Capital Management LLC increased 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 valued at $60,510,000 after purchasing an additional 173,237 shares in the last quarter. Finally, Boston Partners raised its position in Granite Construction by 0.3% in the second quarter. Boston Partners now owns 589,212 shares of the construction company’s stock valued at $55,190,000 after purchasing an additional 2,003 shares during the period.

Wall Street Analysts Forecast Growth

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

Granite Construction Stock Down 2.4%

Shares of Granite Construction stock opened at $123.67 on Friday. Granite Construction Incorporated has a 1-year low of $69.08 and a 1-year high of $137.24. The company has a market capitalization of $5.38 billion, a PE ratio of 33.79 and a beta of 1.30. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.22 and a quick ratio of 1.13. The business has a 50-day moving average of $125.51 and a 200-day moving average of $113.92.

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

Granite Construction Dividend Announcement

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

Granite Construction 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.