Tudor Investment Corp ET AL Trims Holdings in Granite Construction Incorporated $GVA

Tudor Investment Corp ET AL reduced its stake in Granite Construction Incorporated (NYSE:GVA) by 3.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 134,530 shares of the construction company’s stock after selling 4,857 shares during the quarter. Tudor Investment Corp ET AL owned 0.31% of Granite Construction worth $14,751,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Mizuho Markets Cayman LP raised its position in Granite Construction by 569.9% in the third quarter. Mizuho Markets Cayman LP now owns 1,339,818 shares of the construction company’s stock valued at $151,064,000 after purchasing an additional 1,139,818 shares during the period. Norges Bank purchased a new position in shares of Granite Construction during the second quarter worth $24,812,000. Qube Research & Technologies Ltd boosted its position in shares of Granite Construction by 87.5% during the third quarter. Qube Research & Technologies Ltd now owns 556,054 shares of the construction company’s stock worth $60,971,000 after buying an additional 259,477 shares during the period. Squarepoint Ops LLC grew its stake in shares of Granite Construction by 241.7% in the second quarter. Squarepoint Ops LLC now owns 305,013 shares of the construction company’s stock valued at $28,522,000 after buying an additional 215,752 shares in the last quarter. Finally, Hood River Capital Management LLC grew its stake in shares of Granite Construction by 36.6% in the second quarter. Hood River Capital Management LLC now owns 647,093 shares of the construction company’s stock valued at $60,510,000 after buying an additional 173,237 shares in the last quarter.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Zacks Research raised Granite Construction from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. The Goldman Sachs Group lifted their target price on Granite Construction from $109.00 to $124.00 and gave the company a “neutral” rating in a research report on Wednesday, January 28th. Weiss Ratings reiterated a “buy (b)” rating on shares of Granite Construction in a research note on Monday, December 29th. Wall Street Zen raised shares of Granite Construction from a “hold” rating to a “buy” rating in a research report on Saturday, February 28th. Finally, DA Davidson raised their price objective on shares of Granite Construction from $130.00 to $155.00 and gave the company a “buy” rating in a research note on Friday, February 13th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $139.50.

Insiders Place Their Bets

In other Granite Construction news, CFO Staci M. Woolsey sold 1,523 shares of the firm’s stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $119.84, for a total value of $182,516.32. Following the sale, the chief financial officer directly owned 18,954 shares in the company, valued at $2,271,447.36. This trade represents a 7.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Kyle T. Larkin sold 7,314 shares of the business’s stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $119.84, for a total value of $876,509.76. Following the sale, the chief executive officer owned 181,594 shares of the company’s stock, valued at approximately $21,762,224.96. The trade was a 3.87% decrease in their position. The SEC filing for this sale provides additional information. 1.00% of the stock is owned by company insiders.

Granite Construction Trading Down 3.3%

NYSE GVA opened at $116.24 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.22 and a debt-to-equity ratio of 0.79. Granite Construction Incorporated has a 52 week low of $69.08 and a 52 week high of $137.24. The stock has a market capitalization of $5.06 billion, a PE ratio of 31.76 and a beta of 1.30. The firm has a 50 day moving average of $126.27 and a two-hundred day moving average of $114.86.

Granite Construction (NYSE:GVA) last announced its quarterly earnings data on Thursday, February 12th. The construction company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.06. The company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.15 billion. Granite Construction had a net margin of 4.36% and a return on equity of 24.10%. The company’s quarterly revenue was up 19.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.23 EPS. As a group, research analysts expect that Granite Construction Incorporated will post 5.49 EPS for the current fiscal year.

Granite Construction Dividend Announcement

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

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.