5,000 Shares in Granite Construction Incorporated (NYSE:GVA) Acquired by Teton Advisors Inc.

Teton Advisors Inc. acquired a new position in Granite Construction Incorporated (NYSE:GVA) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 5,000 shares of the construction company’s stock, valued at approximately $254,000.

A number of other institutional investors have also recently added to or reduced their stakes in GVA. Exchange Traded Concepts LLC acquired a new stake in Granite Construction in the third quarter worth approximately $27,000. Bank of New York Mellon Corp lifted its position in shares of Granite Construction by 4.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 989,161 shares of the construction company’s stock valued at $37,608,000 after acquiring an additional 41,575 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Granite Construction by 19.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,205 shares of the construction company’s stock valued at $388,000 after acquiring an additional 1,644 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Granite Construction by 8.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 391,957 shares of the construction company’s stock valued at $14,902,000 after acquiring an additional 31,438 shares during the last quarter. Finally, Park Avenue Securities LLC acquired a new stake in shares of Granite Construction during the 3rd quarter valued at $308,000.

Granite Construction Stock Up 4.1 %

Shares of GVA traded up $2.27 during mid-day trading on Thursday, reaching $57.26. The company’s stock had a trading volume of 806,414 shares, compared to its average volume of 367,294. The business has a fifty day moving average of $54.32 and a 200 day moving average of $48.84. The company has a market cap of $2.53 billion, a price-to-earnings ratio of 75.58 and a beta of 1.45. Granite Construction Incorporated has a 1 year low of $33.74 and a 1 year high of $57.93. The company has a quick ratio of 1.49, a current ratio of 1.60 and a debt-to-equity ratio of 0.60.

Granite Construction (NYSE:GVA) last released its earnings results on Thursday, February 22nd. The construction company reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.02). The business had revenue of $933.70 million during the quarter. Granite Construction had a net margin of 1.24% and a return on equity of 14.15%. During the same period in the prior year, the firm earned $0.56 EPS. As a group, analysts forecast that Granite Construction Incorporated will post 4.29 earnings per share for the current fiscal year.

Granite Construction Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date was Wednesday, March 27th. Granite Construction’s dividend payout ratio (DPR) is presently 68.42%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on GVA shares. DA Davidson increased their price objective on Granite Construction from $60.00 to $64.00 and gave the company a “buy” rating in a research report on Tuesday, February 27th. The Goldman Sachs Group increased their price objective on Granite Construction from $44.00 to $50.00 and gave the company a “sell” rating in a research report on Tuesday, April 16th.

Insider Transactions at Granite Construction

In other news, Director Louis E. Caldera sold 1,263 shares of the company’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $50.00, for a total value of $63,150.00. Following the transaction, the director now directly owns 8,528 shares of the company’s stock, valued at $426,400. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.54% of the stock is currently owned by company insiders.

Granite Construction Profile

Granite Construction Incorporated operates as an infrastructure contractor in the United States. It operates through two segments: Construction and Materials segments. The Construction segment engages in the construction and rehabilitation of roads, pavement preservation, bridges, rail lines, airports, marine ports, dams, reservoirs, aqueducts, infrastructure, and site development for use by the public and water-related construction for municipal agencies, commercial water suppliers, industrial facilities, and energy companies; and construction of various complex projects, including infrastructure/site development, mining, public safety, tunnel, solar storage, and power related projects.