Inceptionr LLC Invests $707,000 in Granite Construction Incorporated $GVA

Inceptionr LLC purchased a new position in shares of Granite Construction Incorporated (NYSE:GVA) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 6,448 shares of the construction company’s stock, valued at approximately $707,000.

Several other large investors have also recently added to or reduced their stakes in GVA. AQR Capital Management LLC lifted its holdings in shares of Granite Construction by 73.2% in the 1st quarter. AQR Capital Management LLC now owns 21,379 shares of the construction company’s stock valued at $1,612,000 after buying an additional 9,038 shares during the period. United Services Automobile Association acquired a new stake in shares of Granite Construction in the first quarter valued at about $207,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Granite Construction by 21.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 168,859 shares of the construction company’s stock worth $12,732,000 after buying an additional 29,428 shares in the last quarter. Envestnet Asset Management Inc. acquired a new stake in shares of Granite Construction during the 2nd quarter valued at approximately $226,000. Finally, Atria Investments Inc purchased a new stake in shares of Granite Construction during the 2nd quarter worth approximately $301,000.

Granite Construction Stock Performance

Shares of GVA stock opened at $124.48 on Wednesday. The firm has a market capitalization of $5.42 billion, a price-to-earnings ratio of 34.01 and a beta of 1.30. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.22 and a quick ratio of 1.13. Granite Construction Incorporated has a 12-month low of $69.08 and a 12-month high of $137.24. The business has a 50 day simple moving average of $125.82 and a 200 day simple moving average of $114.20.

Granite Construction (NYSE:GVA) last announced its earnings results on Thursday, February 12th. The construction company reported $1.40 EPS for the quarter, topping the consensus estimate of $1.34 by $0.06. The firm had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Granite Construction had a return on equity of 24.10% and a net margin of 4.36%.The firm’s quarterly revenue was up 19.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.23 earnings per share. On average, equities research analysts anticipate that Granite Construction Incorporated will post 5.49 EPS for the current year.

Granite Construction Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be issued a $0.13 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.4%. Granite Construction’s dividend payout ratio is currently 14.21%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on GVA. Weiss Ratings restated a “buy (b)” rating on shares of Granite Construction in a research report on Monday, December 29th. Wall Street Zen upgraded Granite Construction from a “hold” rating to a “buy” rating in a report on Saturday, February 28th. Zacks Research upgraded shares of Granite Construction from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. DA Davidson upped their price target on Granite Construction from $130.00 to $155.00 and gave the stock a “buy” rating in a research note on Friday, February 13th. Finally, 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, January 28th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $139.50.

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.