RPg Family Wealth Advisory LLC Acquires 4,097 Shares of Granite Construction Incorporated $GVA

RPg Family Wealth Advisory LLC raised its holdings in shares of Granite Construction Incorporated (NYSE:GVA) by 9.1% in the second quarter, Holdings Channel reports. The institutional investor owned 49,225 shares of the construction company’s stock after acquiring an additional 4,097 shares during the period. Granite Construction comprises about 1.2% of RPg Family Wealth Advisory LLC’s portfolio, making the stock its 28th biggest holding. RPg Family Wealth Advisory LLC’s holdings in Granite Construction were worth $7,781,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in GVA. Aster Capital Management DIFC Ltd grew its position in shares of Granite Construction by 512.8% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 239 shares of the construction company’s stock valued at $28,000 after acquiring an additional 200 shares during the period. Root Financial Partners LLC raised its holdings in Granite Construction by 30.9% in the 1st quarter. Root Financial Partners LLC now owns 381 shares of the construction company’s stock worth $46,000 after purchasing an additional 90 shares during the period. Quarry LP raised its holdings in Granite Construction by 1,417.6% in the 3rd quarter. Quarry LP now owns 516 shares of the construction company’s stock worth $57,000 after purchasing an additional 482 shares during the period. Danske Bank A S purchased a new position in Granite Construction during the third quarter valued at $77,000. Finally, Public Employees Retirement System of Ohio purchased a new position in Granite Construction during the second quarter valued at $86,000.

Analyst Ratings Changes

A number of brokerages have commented on GVA. Weiss Ratings upgraded Granite Construction from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, August 18th. Stephens initiated coverage on Granite Construction in a research report on Friday, June 26th. They set an “overweight” rating and a $180.00 price objective on the stock. The Goldman Sachs Group cut their price objective on Granite Construction from $139.00 to $119.00 and set a “sell” rating for the company in a research note on Friday, July 31st. Oppenheimer boosted their price objective on Granite Construction from $170.00 to $180.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. Finally, Zacks Research raised shares of Granite Construction to a “hold” rating in a report on Friday, May 29th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Granite Construction currently has a consensus rating of “Moderate Buy” and a consensus price target of $158.50.

Granite Construction Trading Up 0.2%

Shares of Granite Construction stock opened at $122.71 on Monday. Granite Construction Incorporated has a fifty-two week low of $97.26 and a fifty-two week high of $162.08. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.94 and a current ratio of 1.01. The company has a market capitalization of $5.37 billion, a P/E ratio of -28.47 and a beta of 1.33. The company has a fifty day moving average of $130.84 and a 200 day moving average of $130.80.

Granite Construction (NYSE:GVA) last announced its quarterly earnings data on Thursday, July 30th. The construction company reported $2.16 EPS for the quarter, missing the consensus estimate of $2.25 by ($0.09). Granite Construction had a negative net margin of 3.32% and a positive return on equity of 27.83%. The business had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter in the previous year, the firm earned $1.42 earnings per share. Granite Construction’s revenue was up 28.8% on a year-over-year basis. On average, sell-side analysts anticipate that Granite Construction Incorporated will post 6.36 earnings per share for the current fiscal year.

Granite Construction Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a $0.13 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $0.52 dividend on an annualized basis and a yield of 0.4%. Granite Construction’s payout ratio is currently -12.06%.

Insiders Place Their Bets

In other news, SVP Bradley Jay Williams sold 6,734 shares of Granite Construction stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $141.00, for a total transaction of $949,494.00. Following the sale, the senior vice president owned 7,041 shares in the company, valued at $992,781. This trade represents a 48.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Michael G. Tatusko sold 7,500 shares of the business’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $141.00, for a total transaction of $1,057,500.00. Following the completion of the sale, the senior vice president owned 29,787 shares in the company, valued at approximately $4,199,967. The trade was a 20.11% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have acquired 1,150 shares of company stock valued at $156,636. 0.88% of the stock is owned by company insiders.

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.