Granite Construction Incorporated $GVA Stock Position Lifted by Incline Global Management LLC

Incline Global Management LLC grew its stake in shares of Granite Construction Incorporated (NYSE:GVA) by 26.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 129,368 shares of the construction company’s stock after buying an additional 27,395 shares during the period. Granite Construction comprises 5.1% of Incline Global Management LLC’s holdings, making the stock its 4th biggest position. Incline Global Management LLC’s holdings in Granite Construction were worth $14,923,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in GVA. AQR Capital Management LLC lifted its position in shares of Granite Construction by 73.2% during 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 in the last quarter. United Services Automobile Association purchased a new position in shares of Granite Construction during the 1st quarter valued at about $207,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Granite Construction by 21.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 168,859 shares of the construction company’s stock valued at $12,732,000 after buying an additional 29,428 shares in the last quarter. Marshall Wace LLP lifted its position in shares of Granite Construction by 2,423.4% during the 2nd quarter. Marshall Wace LLP now owns 89,882 shares of the construction company’s stock valued at $8,405,000 after buying an additional 86,320 shares in the last quarter. Finally, WINTON GROUP Ltd purchased a new position in shares of Granite Construction during the 2nd quarter valued at about $229,000.

Granite Construction Stock Performance

NYSE:GVA opened at $143.57 on Thursday. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.09 and a quick ratio of 0.97. Granite Construction Incorporated has a 1 year low of $88.26 and a 1 year high of $148.00. The stock’s 50 day simple moving average is $133.59 and its two-hundred day simple moving average is $125.85. The company has a market cap of $6.28 billion, a price-to-earnings ratio of 41.38 and a beta of 1.32.

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

Granite Construction Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be paid a $0.13 dividend. The ex-dividend date of this dividend is 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 presently 14.99%.

Insider Transactions at Granite Construction

In other news, Director John Timothy Romer acquired 375 shares of Granite Construction stock in a transaction on Monday, June 15th. The shares were acquired at an average price of $143.65 per share, with a total value of $53,868.75. Following the purchase, the director directly owned 2,801 shares in the company, valued at $402,363.65. The trade was a 15.46% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Bradley Jay Williams sold 6,734 shares of Granite Construction stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $141.00, for a total value of $949,494.00. Following the completion of the sale, the senior vice president directly owned 7,041 shares in the company, valued at approximately $992,781. The trade was a 48.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 40,885 shares of company stock worth $5,155,010. 0.88% of the stock is owned by insiders.

Wall Street Analyst Weigh In

GVA has been the topic of a number of research analyst reports. Zacks Research raised Granite Construction to a “hold” rating in a report on Friday, May 29th. Oppenheimer initiated coverage on Granite Construction in a report on Thursday, May 28th. They issued an “outperform” rating and a $170.00 price target on the stock. Wall Street Zen cut Granite Construction from a “buy” rating to a “hold” rating in a report on Saturday, May 30th. Finally, Weiss Ratings cut Granite Construction from a “buy (b)” rating to a “hold (c+)” rating in a report on Wednesday, May 6th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Granite Construction presently has an average rating of “Hold” and an average price target of $149.67.

About Granite Construction

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.