Granite Construction Incorporated $GVA Shares Sold by Walleye Capital LLC

Walleye Capital LLC lowered its stake in Granite Construction Incorporated (NYSE:GVA) by 27.6% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 102,694 shares of the construction company’s stock after selling 39,055 shares during the period. Walleye Capital LLC owned 0.23% of Granite Construction worth $12,311,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of GVA. Millennium Management LLC lifted its position in shares of Granite Construction by 8.9% during the third quarter. Millennium Management LLC now owns 1,602,382 shares of the construction company’s stock worth $175,701,000 after purchasing an additional 131,360 shares during the last quarter. First Trust Advisors LP increased its holdings in Granite Construction by 52.8% in the first quarter. First Trust Advisors LP now owns 1,397,573 shares of the construction company’s stock valued at $167,541,000 after buying an additional 483,080 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Granite Construction by 0.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,067,545 shares of the construction company’s stock valued at $127,969,000 after buying an additional 4,327 shares during the last quarter. Wasatch Advisors LP raised its stake in Granite Construction by 12.4% during the third quarter. Wasatch Advisors LP now owns 861,770 shares of the construction company’s stock valued at $94,493,000 after buying an additional 94,902 shares in the last quarter. Finally, Cartenna Capital LP lifted its holdings in Granite Construction by 17.2% during the 4th quarter. Cartenna Capital LP now owns 715,000 shares of the construction company’s stock worth $82,475,000 after buying an additional 105,000 shares during the last quarter.

Granite Construction Trading Up 0.7%

NYSE:GVA opened at $125.65 on Thursday. Granite Construction Incorporated has a 12-month low of $89.80 and a 12-month high of $162.08. The firm has a market capitalization of $5.50 billion, a P/E ratio of 36.21 and a beta of 1.29. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.09 and a quick ratio of 0.97. The business has a 50 day simple moving average of $138.55 and a 200 day simple moving average of $130.49.

Granite Construction (NYSE:GVA) last issued its quarterly earnings data on Thursday, April 30th. The construction company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of ($0.77) by $1.03. The firm had revenue of $912.47 million during the quarter, compared to the consensus estimate of $782.26 million. Granite Construction had a return on equity of 24.90% and a net margin of 3.99%.The firm’s revenue was up 30.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.01 EPS. Equities research analysts predict that Granite Construction Incorporated will post 6.14 EPS for the current year.

Granite Construction Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a dividend of $0.13 per share. The ex-dividend date was Tuesday, June 30th. This represents a $0.52 annualized dividend and a dividend yield of 0.4%. Granite Construction’s dividend payout ratio is currently 14.99%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Wall Street Zen lowered Granite Construction from a “buy” rating to a “hold” rating in a research report on Saturday, July 18th. The Goldman Sachs Group reissued a “sell” rating and set a $139.00 price target (down from $141.00) on shares of Granite Construction in a research report on Thursday, July 9th. Oppenheimer assumed coverage on shares of Granite Construction in a report on Thursday, May 28th. They issued an “outperform” rating and a $170.00 price objective for the company. Weiss Ratings cut shares of Granite Construction from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday. Finally, Zacks Research upgraded shares of Granite Construction to a “hold” rating in a research report on Friday, May 29th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Granite Construction presently has an average rating of “Moderate Buy” and a consensus target price of $161.00.

Insider Transactions at Granite Construction

In other news, Director John Timothy Romer acquired 375 shares of the company’s stock in a transaction that occurred 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 acquisition, the director directly owned 2,801 shares in the company, valued at approximately $402,363.65. The trade was a 15.46% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Bradley Jay Williams sold 6,734 shares of Granite Construction stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $141.00, for a total transaction of $949,494.00. Following the completion of the sale, the senior vice president owned 7,041 shares in the company, valued at approximately $992,781. This represents a 48.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.88% of the company’s stock.

Granite Construction Company 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.