Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Granite Construction Incorporated (NYSE:GVA) by 36.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,398 shares of the construction company’s stock after purchasing an additional 3,074 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Granite Construction were worth $550,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of GVA. BlackRock Inc. increased its position in shares of Granite Construction by 19,890.7% during the first quarter. BlackRock Inc. now owns 3,988,954 shares of the construction company’s stock worth $200,206,000 after purchasing an additional 3,969,000 shares in the last quarter. RidgeWorth Capital Management LLC increased its position in shares of Granite Construction by 345.9% during the first quarter. RidgeWorth Capital Management LLC now owns 466,505 shares of the construction company’s stock worth $23,474,000 after purchasing an additional 361,881 shares in the last quarter. OppenheimerFunds Inc. increased its position in shares of Granite Construction by 113.5% during the first quarter. OppenheimerFunds Inc. now owns 649,967 shares of the construction company’s stock worth $32,622,000 after purchasing an additional 345,592 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Granite Construction by 85.3% during the first quarter. Victory Capital Management Inc. now owns 746,324 shares of the construction company’s stock worth $37,458,000 after purchasing an additional 343,587 shares in the last quarter. Finally, Frontier Capital Management Co. LLC increased its position in shares of Granite Construction by 72.1% during the second quarter. Frontier Capital Management Co. LLC now owns 708,328 shares of the construction company’s stock worth $34,170,000 after purchasing an additional 296,681 shares in the last quarter. Institutional investors and hedge funds own 99.00% of the company’s stock.

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A number of research firms recently issued reports on GVA. Zacks Investment Research raised Granite Construction from a “sell” rating to a “hold” rating in a report on Tuesday, July 4th. BidaskClub raised Granite Construction from a “strong sell” rating to a “sell” rating in a report on Thursday, July 6th. FBR & Co raised their price target on Granite Construction from $63.00 to $68.00 and gave the stock an “outperform” rating in a report on Tuesday, August 1st. Finally, Canaccord Genuity reissued a “buy” rating and set a $70.00 price target on shares of Granite Construction in a report on Saturday, August 26th. One investment 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. The company currently has a consensus rating of “Buy” and a consensus target price of $63.67.

Granite Construction Incorporated (NYSE GVA) opened at 56.56 on Wednesday. The company’s 50 day moving average price is $52.02 and its 200-day moving average price is $50.44. Granite Construction Incorporated has a 12-month low of $42.59 and a 12-month high of $62.18. The stock has a market cap of $2.25 billion, a price-to-earnings ratio of 51.46 and a beta of 1.17.

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

In related news, 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 transaction of $222,000.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 transaction of $148,800.00. Following the sale, the director now owns 49,858 shares in the company, valued at approximately $2,472,956.80. The disclosure for this sale can be found here. 1.30% of the stock is owned by corporate insiders.

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.

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

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