Inceptionr LLC Invests $654,000 in Granite Construction Incorporated $GVA

Inceptionr LLC purchased a new position in shares of Granite Construction Incorporated (NYSE:GVA) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 5,455 shares of the construction company’s stock, valued at approximately $654,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. First Trust Advisors LP grew its holdings in shares of Granite Construction by 52.8% during the first quarter. First Trust Advisors LP now owns 1,397,573 shares of the construction company’s stock worth $167,541,000 after purchasing an additional 483,080 shares during the last quarter. UBS Group AG lifted its holdings in Granite Construction by 262.8% during the 4th quarter. UBS Group AG now owns 647,589 shares of the construction company’s stock worth $74,699,000 after buying an additional 469,079 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Granite Construction by 254.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 503,906 shares of the construction company’s stock worth $58,126,000 after buying an additional 361,741 shares in the last quarter. Norges Bank acquired a new stake in shares of Granite Construction in the 4th quarter valued at $36,405,000. Finally, Qube Research & Technologies Ltd raised its position in shares of Granite Construction by 87.5% during the third quarter. Qube Research & Technologies Ltd now owns 556,054 shares of the construction company’s stock worth $60,971,000 after acquiring an additional 259,477 shares during the last quarter.

Insider Buying and Selling at Granite Construction

In other news, Director John Timothy Romer acquired 375 shares of the firm’s stock in a transaction dated Monday, June 15th. The stock was bought at an average price of $143.65 per share, with a total value of $53,868.75. Following the transaction, the director directly owned 2,801 shares in the company, valued at approximately $402,363.65. The trade was a 15.46% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Bradley Jay Williams sold 6,734 shares of Granite Construction stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $141.00, for a total transaction of $949,494.00. Following the completion of the transaction, the senior vice president directly owned 7,041 shares of the company’s stock, valued at approximately $992,781. This trade represents a 48.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.88% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on GVA. Weiss Ratings cut Granite Construction from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday. The Goldman Sachs Group reiterated a “sell” rating and set a $139.00 target price (down from $141.00) on shares of Granite Construction in a research report on Thursday, July 9th. Stephens assumed coverage on Granite Construction in a research note on Friday, June 26th. They issued an “overweight” rating and a $180.00 target price on the stock. Wall Street Zen lowered Granite Construction from a “buy” rating to a “hold” rating in a research report on Saturday, July 18th. Finally, Oppenheimer began coverage on shares of Granite Construction in a research note on Thursday, May 28th. They set an “outperform” rating and a $170.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Granite Construction presently has an average rating of “Moderate Buy” and a consensus target price of $161.00.

Granite Construction Stock Performance

GVA opened at $124.22 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.09 and a quick ratio of 0.97. The company has a market capitalization of $5.43 billion, a price-to-earnings ratio of 35.80 and a beta of 1.29. Granite Construction Incorporated has a 1 year low of $89.80 and a 1 year high of $162.08. The business’s 50-day moving average price is $137.97 and its two-hundred day moving average price is $130.50.

Granite Construction (NYSE:GVA) last released its earnings results on Thursday, April 30th. The construction company reported $0.26 EPS for the quarter, beating the consensus estimate of ($0.77) by $1.03. The firm had revenue of $912.47 million for the quarter, compared to analysts’ expectations of $782.26 million. Granite Construction had a return on equity of 24.90% and a net margin of 3.99%.The business’s quarterly revenue was up 30.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.01 EPS. Equities analysts expect that Granite Construction Incorporated will post 6.14 EPS for the current fiscal year.

Granite Construction Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $0.52 annualized dividend and a yield of 0.4%. Granite Construction’s payout ratio is 14.99%.

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.