ING Groep NV Buys Shares of 4,843 Granite Construction Incorporated (NYSE:GVA)
ING Groep NV bought a new stake in shares of Granite Construction Incorporated (NYSE:GVA) during the second quarter, Holdings Channel reports. The fund bought 4,843 shares of the construction company’s stock, valued at approximately $234,000.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Sei Investments Co. bought a new stake in shares of Granite Construction during the first quarter valued at approximately $119,000. Tower Research Capital LLC TRC increased its stake in shares of Granite Construction by 111.1% in the first quarter. Tower Research Capital LLC TRC now owns 2,597 shares of the construction company’s stock valued at $130,000 after buying an additional 1,367 shares in the last quarter. LS Investment Advisors LLC increased its stake in shares of Granite Construction by 44.0% in the first quarter. LS Investment Advisors LLC now owns 3,977 shares of the construction company’s stock valued at $200,000 after buying an additional 1,215 shares in the last quarter. Laurion Capital Management LP bought a new stake in shares of Granite Construction during the first quarter valued at approximately $216,000. Finally, Norman Fields Gottscho Capital Management LLC bought a new stake in shares of Granite Construction during the second quarter valued at approximately $224,000. 93.96% of the stock is owned by institutional investors and hedge funds.
Shares of Granite Construction Incorporated (NYSE GVA) traded up 1.73% during midday trading on Friday, hitting $52.36. The stock had a trading volume of 311,589 shares. Granite Construction Incorporated has a one year low of $42.59 and a one year high of $62.18. The firm has a market capitalization of $2.09 billion, a PE ratio of 47.64 and a beta of 1.20. The firm’s 50-day moving average price is $50.13 and its 200-day moving average price is $50.93.
Granite Construction (NYSE:GVA) last announced its quarterly earnings data on Tuesday, August 1st. The construction company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by $0.25. Granite Construction had a return on equity of 4.80% and a net margin of 1.61%. The company had revenue of $762.90 million for the quarter, compared to analyst estimates of $684.32 million. During the same period last year, the firm earned $0.35 earnings per share. The firm’s revenue for the quarter was up 26.2% on a year-over-year basis. On average, equities analysts predict that Granite Construction Incorporated will post $1.53 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Investors of record on Friday, June 30th were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.99%. Granite Construction’s dividend payout ratio (DPR) is presently 48.60%.
TRADEMARK VIOLATION WARNING: “ING Groep NV Buys Shares of 4,843 Granite Construction Incorporated (NYSE:GVA)” was first published by Watch List News and is owned by of Watch List News. If you are accessing this piece on another site, it was illegally copied and reposted in violation of United States and international trademark and copyright legislation. The original version of this piece can be viewed at https://www.watchlistnews.com/ing-groep-nv-buys-shares-of-4843-granite-construction-incorporated-nysegva/1478816.html.
GVA has been the subject of several analyst reports. Zacks Investment Research downgraded Granite Construction from a “hold” rating to a “strong sell” rating in a report on Friday, April 14th. FBR & Co reduced their target price on Granite Construction from $67.00 to $63.00 and set an “outperform” rating for the company in a report on Wednesday, May 3rd. Canaccord Genuity reaffirmed a “buy” rating and set a $70.00 target price on shares of Granite Construction in a report on Wednesday, May 3rd. Finally, BidaskClub raised Granite Construction from a “strong sell” rating to a “sell” rating in a report on Thursday, July 6th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $62.14.
In related news, Director James Hildebrand Roberts sold 17,442 shares of Granite Construction stock in a transaction on Friday, June 9th. The stock was sold at an average price of $50.34, for a total transaction of $878,030.28. Following the completion of the sale, the director now directly owns 54,594 shares of the company’s stock, valued at $2,748,261.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director William Howard Powell sold 3,000 shares of Granite Construction stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $49.60, for a total value of $148,800.00. Following the sale, the director now directly owns 49,858 shares of the company’s stock, valued at $2,472,956.80. The disclosure for this sale can be found here. 1.30% of the stock is owned by insiders.
Granite Construction Company Profile
Granite Construction Incorporated is a heavy civil contractor and construction materials producer in the United States. The Company operates through three segments: Construction, Large Project Construction and Construction Materials. The Company operates across the nation, serving both public and private sector clients.
Want to see what other hedge funds are holding GVA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Granite Construction Incorporated (NYSE:GVA).
Receive News & Ratings for Granite Construction Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Granite Construction Incorporated and related companies with Analyst Ratings Network's FREE daily email newsletter.