SG Americas Securities LLC boosted its position in shares of Granite Construction Incorporated (NYSE:GVA) by 103.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,120 shares of the construction company’s stock after acquiring an additional 6,157 shares during the quarter. SG Americas Securities LLC’s holdings in Granite Construction were worth $585,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Schwab Charles Investment Management Inc. boosted its stake in shares of Granite Construction by 7.8% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 244,743 shares of the construction company’s stock valued at $12,284,000 after buying an additional 17,803 shares during the period. American Century Companies Inc. boosted its stake in shares of Granite Construction by 0.4% in the 1st quarter. American Century Companies Inc. now owns 160,944 shares of the construction company’s stock valued at $8,078,000 after buying an additional 600 shares during the period. BlackRock Inc. boosted its stake in shares of Granite Construction by 19,890.7% in the 1st quarter. BlackRock Inc. now owns 3,988,954 shares of the construction company’s stock valued at $200,206,000 after buying an additional 3,969,000 shares during the period. Wellington Management Group LLP boosted its stake in shares of Granite Construction by 676.4% in the 1st quarter. Wellington Management Group LLP now owns 194,498 shares of the construction company’s stock valued at $9,761,000 after buying an additional 169,448 shares during the period. Finally, State Street Corp boosted its stake in shares of Granite Construction by 3.0% in the 1st quarter. State Street Corp now owns 1,223,728 shares of the construction company’s stock valued at $61,420,000 after buying an additional 36,214 shares during the period. Institutional investors own 99.00% of the company’s stock.

In related news, Director William Howard Powell sold 3,000 shares of the stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $49.60, for a total value of $148,800.00. Following the completion of the transaction, the director now owns 49,858 shares of the company’s stock, valued at $2,472,956.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider James D. Richards sold 4,000 shares of the stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $55.50, for a total value of $222,000.00. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

Shares of Granite Construction Incorporated (GVA) opened at 55.72 on Friday. Granite Construction Incorporated has a 1-year low of $42.59 and a 1-year high of $62.18. The company’s 50-day moving average price is $51.84 and its 200 day moving average price is $50.49. The stock has a market cap of $2.22 billion, a PE ratio of 50.70 and a beta of 1.17.

Granite Construction (NYSE:GVA) last issued its quarterly 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. The business had revenue of $762.90 million during the quarter, compared to analysts’ expectations of $684.32 million. Granite Construction had a net margin of 1.61% and a return on equity of 4.80%. The company’s revenue for the quarter was up 26.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.35 EPS. Equities analysts forecast that Granite Construction Incorporated will post $1.55 EPS for the current fiscal year.

GVA has been the subject of several recent research reports. Canaccord Genuity reiterated a “buy” rating and issued a $70.00 price objective on shares of Granite Construction in a research note on Saturday, August 26th. Zacks Investment Research upgraded Granite Construction from a “sell” rating to a “hold” rating in a research note on Tuesday, July 4th. FBR & Co lifted their price objective on Granite Construction from $63.00 to $68.00 and gave the company an “outperform” rating in a research note on Tuesday, August 1st. Finally, BidaskClub upgraded Granite Construction from a “strong sell” rating to a “sell” rating in a research note on Thursday, July 6th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. Granite Construction currently has an average rating of “Buy” and an average price target of $63.67.

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About Granite Construction

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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