Morgan Dempsey Capital Management LLC increased its position in Granite Construction Incorporated (NYSE:GVA) by 17.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 134,140 shares of the construction company’s stock after buying an additional 20,364 shares during the period. Granite Construction comprises approximately 2.4% of Morgan Dempsey Capital Management LLC’s holdings, making the stock its 6th largest position. Morgan Dempsey Capital Management LLC owned approximately 0.34% of Granite Construction worth $6,471,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. First National Bank of Omaha increased its position in shares of Granite Construction by 0.4% in the second quarter. First National Bank of Omaha now owns 30,058 shares of the construction company’s stock worth $1,450,000 after buying an additional 110 shares in the last quarter. Liberty Mutual Group Asset Management Inc. increased its position in shares of Granite Construction by 0.7% in the first quarter. Liberty Mutual Group Asset Management Inc. now owns 17,930 shares of the construction company’s stock worth $900,000 after buying an additional 130 shares in the last quarter. Dubuque Bank & Trust Co. increased its position in shares of Granite Construction by 3.0% in the second quarter. Dubuque Bank & Trust Co. now owns 5,082 shares of the construction company’s stock worth $245,000 after buying an additional 149 shares in the last quarter. Advantus Capital Management Inc increased its position in shares of Granite Construction by 3.1% in the first quarter. Advantus Capital Management Inc now owns 5,073 shares of the construction company’s stock worth $255,000 after buying an additional 151 shares in the last quarter. Finally, Retirement Systems of Alabama increased its position in shares of Granite Construction by 0.4% in the second quarter. Retirement Systems of Alabama now owns 51,331 shares of the construction company’s stock worth $2,476,000 after buying an additional 195 shares in the last quarter. 94.35% of the stock is owned by institutional investors and hedge funds.

Shares of Granite Construction Incorporated (NYSE:GVA) traded down 1.20% during midday trading on Friday, reaching $49.40. The company’s stock had a trading volume of 233,861 shares. The company’s 50-day moving average price is $50.52 and its 200 day moving average price is $50.66. Granite Construction Incorporated has a 1-year low of $42.59 and a 1-year high of $62.18. The firm has a market capitalization of $1.97 billion, a PE ratio of 44.95 and a beta of 1.20.

Granite Construction (NYSE:GVA) last released its earnings results on Tuesday, August 1st. The construction company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by $0.25. Granite Construction had a return on equity of 4.80% and a net margin of 1.61%. The firm had revenue of $762.90 million for the quarter, compared to the consensus estimate of $684.32 million. During the same period in the prior year, the business earned $0.35 EPS. The company’s quarterly revenue was up 26.2% on a year-over-year basis. On average, equities research analysts forecast that Granite Construction Incorporated will post $1.55 earnings per share for the current year.

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Several research firms recently weighed in on GVA. Canaccord Genuity restated a “buy” rating and set a $70.00 target price on shares of Granite Construction in a research note on Tuesday, August 1st. FBR & Co boosted their target price on Granite Construction from $63.00 to $68.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 1st. BidaskClub cut Granite Construction from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 27th. Finally, Zacks Investment Research upgraded Granite Construction from a “sell” rating to a “hold” rating in a research note on Tuesday, July 4th. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $63.67.

In other Granite Construction news, Director James Hildebrand Roberts sold 17,442 shares of the stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $50.34, for a total transaction of $878,030.28. Following the transaction, the director now owns 54,594 shares of the company’s stock, valued at approximately $2,748,261.96. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director William Howard Powell sold 3,000 shares of the stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $49.60, for a total value of $148,800.00. Following the transaction, the director now directly owns 49,858 shares in the company, valued at approximately $2,472,956.80. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

Granite Construction Company Profile

Granite Construction Incorporated is a heavy civil contractor and construction materials producer in the United States. The Company operates through three segments: Construction, Large Project Construction and Construction Materials. The Company operates across the nation, serving both public and private sector clients.

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

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