Dorsey & Whitney Trust CO LLC Buys 329 Shares of Granite Construction Incorporated (GVA)
Dorsey & Whitney Trust CO LLC lifted its stake in Granite Construction Incorporated (NYSE:GVA) by 6.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,066 shares of the construction company’s stock after acquiring an additional 329 shares during the quarter. Dorsey & Whitney Trust CO LLC’s holdings in Granite Construction were worth $245,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Sei Investments Co. acquired a new stake in shares of Granite Construction in the first quarter valued at about $119,000. Tower Research Capital LLC TRC increased its position in shares of Granite Construction by 111.1% in the first quarter. Tower Research Capital LLC TRC now owns 2,597 shares of the construction company’s stock valued at $130,000 after acquiring an additional 1,367 shares during the last quarter. Riverhead Capital Management LLC increased its position in shares of Granite Construction by 65.0% in the second quarter. Riverhead Capital Management LLC now owns 3,630 shares of the construction company’s stock valued at $175,000 after acquiring an additional 1,430 shares during the last quarter. LS Investment Advisors LLC increased its position in shares of Granite Construction by 44.0% in the first quarter. LS Investment Advisors LLC now owns 3,977 shares of the construction company’s stock valued at $200,000 after acquiring an additional 1,215 shares during the last quarter. Finally, Laurion Capital Management LP acquired a new stake in shares of Granite Construction in the first quarter valued at about $216,000. 99.00% of the stock is currently owned by institutional investors and hedge funds.
In other Granite Construction 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 value of $222,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.30% of the company’s stock.
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A number of analysts recently issued reports on GVA shares. Zacks Investment Research raised Granite Construction from a “sell” rating to a “hold” rating in a research report on Tuesday, July 4th. Canaccord Genuity reaffirmed a “buy” rating and issued a $70.00 target price on shares of Granite Construction in a research report on Saturday, August 26th. BidaskClub raised Granite Construction from a “strong sell” rating to a “sell” rating in a research report on Thursday, July 6th. Finally, FBR & Co lifted their target price on Granite Construction from $63.00 to $68.00 and gave the company an “outperform” rating in a research report on Tuesday, August 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $63.67.
Granite Construction Incorporated (NYSE:GVA) opened at 56.96 on Friday. Granite Construction Incorporated has a 12-month low of $42.59 and a 12-month high of $62.18. The company’s 50-day moving average price is $52.91 and its 200-day moving average price is $50.58. The company has a market cap of $2.27 billion, a PE ratio of 51.83 and a beta of 1.17.
Granite Construction (NYSE:GVA) last posted its quarterly earnings data on Tuesday, August 1st. The construction company reported $0.35 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.60 by ($0.25). The firm 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 quarterly revenue was up 26.2% on a year-over-year basis. During the same quarter last year, the business posted $0.35 EPS. Equities analysts anticipate that Granite Construction Incorporated will post $1.55 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 29th will be paid a $0.13 dividend. The ex-dividend date is Thursday, September 28th. This represents a $0.52 annualized dividend and a yield of 0.91%. Granite Construction’s dividend payout ratio (DPR) is 48.60%.
Granite Construction 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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