Strs Ohio Has $625,000 Position in Granite Construction Incorporated $GVA

Strs Ohio cut its holdings in Granite Construction Incorporated (NYSE:GVA) by 56.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,700 shares of the construction company’s stock after selling 7,500 shares during the quarter. Strs Ohio’s holdings in Granite Construction were worth $625,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Simplicity Wealth LLC bought a new position in shares of Granite Construction during the 3rd quarter valued at $446,000. Anchor Capital Advisors LLC bought a new position in Granite Construction during the third quarter valued at about $203,000. Universal Beteiligungs und Servicegesellschaft mbH raised its holdings in Granite Construction by 11.8% during the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 6,434 shares of the construction company’s stock valued at $705,000 after buying an additional 680 shares in the last quarter. Root Financial Partners LLC acquired a new stake in shares of Granite Construction in the third quarter worth about $26,000. Finally, NorthCrest Asset Manangement LLC boosted its stake in shares of Granite Construction by 39.3% during the 3rd quarter. NorthCrest Asset Manangement LLC now owns 9,461 shares of the construction company’s stock worth $1,002,000 after acquiring an additional 2,668 shares in the last quarter.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. DA Davidson boosted their target price on Granite Construction from $125.00 to $130.00 and gave the stock a “buy” rating in a report on Tuesday, November 11th. Wall Street Zen upgraded shares of Granite Construction from a “hold” rating to a “buy” rating in a research note on Saturday, January 17th. The Goldman Sachs Group raised their target price on shares of Granite Construction from $109.00 to $124.00 and gave the company a “neutral” rating in a research note on Wednesday. Weiss Ratings reissued a “buy (b)” rating on shares of Granite Construction in a research report on Monday, December 29th. Finally, Zacks Research upgraded shares of Granite Construction from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Granite Construction presently has a consensus rating of “Moderate Buy” and an average price target of $127.00.

Granite Construction Price Performance

NYSE:GVA opened at $121.48 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.21 and a quick ratio of 1.12. Granite Construction Incorporated has a one year low of $69.08 and a one year high of $124.99. The company has a fifty day moving average price of $115.58 and a 200 day moving average price of $108.11. The stock has a market cap of $5.30 billion, a P/E ratio of 35.01 and a beta of 1.32.

Granite Construction (NYSE:GVA) last posted its quarterly earnings data on Thursday, November 6th. The construction company reported $2.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.56 by $0.14. The company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.51 billion. Granite Construction had a net margin of 4.31% and a return on equity of 24.04%. The business’s revenue was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.05 EPS. Analysts anticipate that Granite Construction Incorporated will post 5.49 earnings per share for the current year.

Granite Construction Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 0.4%. The ex-dividend date was Wednesday, December 31st. Granite Construction’s payout ratio is currently 14.99%.

Insider Buying and Selling

In other Granite Construction news, Director Celeste Beeks Mastin sold 7,614 shares of the firm’s stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $105.23, for a total value of $801,221.22. Following the completion of the sale, the director owned 10,206 shares in the company, valued at approximately $1,073,977.38. This trade represents a 42.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.00% of the stock is currently owned by company insiders.

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.