Deprince Race & Zollo Inc. trimmed its holdings in shares of Granite Construction Incorporated (NYSE:GVA) by 78.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 72,158 shares of the construction company’s stock after selling 259,588 shares during the period. Deprince Race & Zollo Inc. owned approximately 0.18% of Granite Construction worth $4,182,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the stock. Greenwood Capital Associates LLC increased its position in Granite Construction by 1.9% in the 2nd quarter. Greenwood Capital Associates LLC now owns 4,906 shares of the construction company’s stock worth $237,000 after purchasing an additional 92 shares during the last quarter. First National Bank of Omaha increased its position in Granite Construction by 0.4% in the 2nd quarter. First National Bank of Omaha now owns 30,058 shares of the construction company’s stock worth $1,450,000 after purchasing an additional 110 shares during the last quarter. Dubuque Bank & Trust Co. increased its position in Granite Construction by 3.0% in the 2nd quarter. Dubuque Bank & Trust Co. now owns 5,082 shares of the construction company’s stock worth $245,000 after purchasing an additional 149 shares during the last quarter. Retirement Systems of Alabama increased its position in Granite Construction by 0.4% in the 2nd quarter. Retirement Systems of Alabama now owns 51,331 shares of the construction company’s stock worth $2,476,000 after purchasing an additional 195 shares during the last quarter. Finally, Public Employees Retirement System of Ohio increased its position in Granite Construction by 7.1% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 3,282 shares of the construction company’s stock worth $158,000 after purchasing an additional 218 shares during the last quarter. 97.68% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Granite Construction Incorporated (GVA) traded up $1.29 during midday trading on Friday, hitting $63.23. The stock had a trading volume of 306,273 shares, compared to its average volume of 394,820. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.71 and a current ratio of 1.79. The firm has a market cap of $2,470.00, a price-to-earnings ratio of 48.08, a price-to-earnings-growth ratio of 5.44 and a beta of 1.24. Granite Construction Incorporated has a fifty-two week low of $45.14 and a fifty-two week high of $67.20.

Granite Construction (NYSE:GVA) last issued its quarterly earnings data on Friday, October 27th. The construction company reported $1.14 EPS for the quarter, beating the Zacks’ consensus estimate of $1.10 by $0.04. The business had revenue of $957.10 million for the quarter, compared to analyst estimates of $905.14 million. Granite Construction had a return on equity of 5.71% and a net margin of 1.84%. The firm’s revenue for the quarter was up 19.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.92 EPS. analysts predict that Granite Construction Incorporated will post 1.63 earnings per share for the current year.

Several research analysts have weighed in on the company. B. Riley reaffirmed a “buy” rating on shares of Granite Construction in a research report on Wednesday, November 1st. Zacks Investment Research raised Granite Construction from a “hold” rating to a “buy” rating and set a $71.00 target price on the stock in a research report on Tuesday, October 31st. Canaccord Genuity upped their target price on Granite Construction from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Monday, October 30th. DA Davidson reaffirmed a “hold” rating and issued a $65.00 target price on shares of Granite Construction in a research report on Monday, October 30th. Finally, FBR & Co reaffirmed a “buy” rating and issued a $68.00 target price on shares of Granite Construction in a research report on Tuesday, October 3rd. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $67.00.

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In other news, Director William Howard Powell sold 3,103 shares of the stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $63.85, for a total transaction of $198,126.55. Following the transaction, the director now owns 46,771 shares of the company’s stock, valued at approximately $2,986,328.35. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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.

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

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