Dimensional Fund Advisors LP Has $107.33 Million Holdings in Granite Construction Inc. (GVA)
Dimensional Fund Advisors LP boosted its stake in Granite Construction Inc. (NYSE:GVA) by 6.2% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,664,608 shares of the construction company’s stock after purchasing an additional 156,499 shares during the period. Dimensional Fund Advisors LP owned 0.06% of Granite Construction worth $107,330,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently modified their holdings of GVA. NumerixS Investment Technologies Inc acquired a new position in shares of Granite Construction during the fourth quarter valued at $48,000. Essex Investment Management Co. LLC acquired a new position in shares of Granite Construction during the fourth quarter valued at $199,000. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Granite Construction during the fourth quarter valued at $201,000. Rowland & Co. Investment Counsel ADV increased its holdings in shares of Granite Construction by 13.6% during the fourth quarter. Rowland & Co. Investment Counsel ADV now owns 5,020 shares of the construction company’s stock valued at $202,000 after purchasing an additional 600 shares during the period. Finally, Crossmark Global Holdings Inc. increased its holdings in shares of Granite Construction by 54.4% during the fourth quarter. Crossmark Global Holdings Inc. now owns 6,162 shares of the construction company’s stock valued at $248,000 after purchasing an additional 2,170 shares during the period. 96.76% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have recently commented on GVA. B. Riley reissued a “buy” rating and set a $53.00 price target (down from $66.00) on shares of Granite Construction in a report on Monday, April 29th. ValuEngine raised Granite Construction from a “sell” rating to a “hold” rating in a report on Friday, February 22nd. Finally, MKM Partners raised their price target on Granite Construction from $60.00 to $61.00 and gave the company a “buy” rating in a report on Thursday, February 21st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $58.50.
Granite Construction (NYSE:GVA) last announced its earnings results on Friday, April 26th. The construction company reported ($0.57) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.22) by ($0.35). Granite Construction had a net margin of 0.57% and a return on equity of 6.03%. The firm had revenue of $619.80 million for the quarter, compared to the consensus estimate of $644.46 million. During the same period in the prior year, the business earned ($0.13) EPS. The company’s quarterly revenue was up 10.0% compared to the same quarter last year. As a group, sell-side analysts predict that Granite Construction Inc. will post 2.83 EPS for the current fiscal year.
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Granite Construction Company Profile
Granite Construction Incorporated operates as an infrastructure contractor and a construction materials producer in the United States. The company operates through Transportation, Water, Specialty, and Materials segments. The Transportation segment engages in the construction and rehabilitation of roads, pavement preservation, bridges, rail lines, airports, and marine ports.
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