Dimensional Fund Advisors LP Acquires 3,439 Shares of Granite Construction Incorporated (NYSE:GVA)

Dimensional Fund Advisors LP raised its holdings in shares of Granite Construction Incorporated (NYSE:GVAFree Report) by 0.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,697,469 shares of the construction company’s stock after acquiring an additional 3,439 shares during the quarter. Dimensional Fund Advisors LP owned about 6.14% of Granite Construction worth $137,194,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC bought a new stake in shares of Granite Construction during the 4th quarter valued at $43,000. Toth Financial Advisory Corp lifted its holdings in shares of Granite Construction by 35.1% in the fourth quarter. Toth Financial Advisory Corp now owns 2,500 shares of the construction company’s stock worth $127,000 after buying an additional 650 shares in the last quarter. Caxton Associates LP bought a new position in shares of Granite Construction in the third quarter valued at approximately $241,000. HighTower Advisors LLC purchased a new position in Granite Construction during the third quarter valued at approximately $279,000. Finally, Raymond James Financial Services Advisors Inc. bought a new stake in Granite Construction during the 4th quarter worth approximately $290,000.

Insider Transactions at Granite Construction

In related news, SVP Bradley Jay Williams sold 750 shares of the stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $61.21, for a total transaction of $45,907.50. Following the transaction, the senior vice president now owns 7,423 shares of the company’s stock, valued at approximately $454,361.83. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Louis E. Caldera sold 1,263 shares of the stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $50.00, for a total transaction of $63,150.00. Following the completion of the sale, the director now owns 8,528 shares of the company’s stock, valued at $426,400. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Bradley Jay Williams sold 750 shares of Granite Construction stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $61.21, for a total transaction of $45,907.50. Following the completion of the transaction, the senior vice president now directly owns 7,423 shares in the company, valued at $454,361.83. The disclosure for this sale can be found here. Company insiders own 0.54% of the company’s stock.

Analysts Set New Price Targets

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

Check Out Our Latest Research Report on Granite Construction

Granite Construction Price Performance

GVA stock opened at $62.21 on Friday. The firm has a 50 day simple moving average of $56.68 and a two-hundred day simple moving average of $50.99. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.51 and a quick ratio of 1.39. The stock has a market cap of $2.75 billion, a PE ratio of 105.44 and a beta of 1.45. Granite Construction Incorporated has a one year low of $33.74 and a one year high of $64.33.

Granite Construction (NYSE:GVAGet Free Report) last released its earnings results on Thursday, February 22nd. The construction company reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.02). Granite Construction had a net margin of 0.98% and a return on equity of 14.91%. The firm had revenue of $933.70 million during the quarter. During the same quarter in the previous year, the company posted $0.56 earnings per share. On average, analysts predict that Granite Construction Incorporated will post 4.76 EPS for the current fiscal year.

Granite Construction Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 0.84%. The ex-dividend date was Wednesday, March 27th. Granite Construction’s dividend payout ratio (DPR) is presently 88.14%.

Granite Construction Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Granite Construction (NYSE:GVA)

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