Macquarie Group Ltd. raised its stake in Granite Construction Incorporated (NYSE:GVA) by 7.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,040,001 shares of the construction company’s stock after buying an additional 71,061 shares during the quarter. Macquarie Group Ltd. owned 2.61% of Granite Construction worth $60,268,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Greenwood Capital Associates LLC lifted its stake in Granite Construction by 1.9% in the second quarter. Greenwood Capital Associates LLC now owns 4,906 shares of the construction company’s stock valued at $237,000 after buying an additional 92 shares during the period. Dubuque Bank & Trust Co. lifted its stake in Granite Construction by 3.0% in the second quarter. Dubuque Bank & Trust Co. now owns 5,082 shares of the construction company’s stock valued at $245,000 after buying an additional 149 shares during the period. Retirement Systems of Alabama lifted its stake in Granite Construction by 0.4% in the second quarter. Retirement Systems of Alabama now owns 51,331 shares of the construction company’s stock valued at $2,476,000 after buying an additional 195 shares during the period. Public Employees Retirement System of Ohio lifted its stake in Granite Construction by 7.1% in the second quarter. Public Employees Retirement System of Ohio now owns 3,282 shares of the construction company’s stock valued at $158,000 after buying an additional 218 shares during the period. Finally, Amalgamated Bank lifted its stake in Granite Construction by 4.2% in the second quarter. Amalgamated Bank now owns 5,695 shares of the construction company’s stock valued at $275,000 after buying an additional 232 shares during the period. 98.59% of the stock is currently owned by hedge funds and other institutional investors.

Granite Construction Incorporated (NYSE:GVA) traded up $1.15 during midday trading on Monday, hitting $64.38. The stock had a trading volume of 36,649 shares, compared to its average volume of 394,819. The firm has a market capitalization of $2,520.00, a price-to-earnings ratio of 49.02, a P/E/G ratio of 5.55 and a beta of 1.24. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.71 and a current ratio of 1.79. Granite Construction Incorporated has a 52 week low of $45.14 and a 52 week high of $67.20.

Granite Construction (NYSE:GVA) last released its quarterly earnings results on Friday, October 27th. The construction company reported $1.14 EPS for the quarter, topping the Zacks’ consensus estimate of $1.10 by $0.04. The company 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%. Granite Construction’s revenue was up 19.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.92 earnings per share. analysts anticipate that Granite Construction Incorporated will post 1.63 EPS for the current fiscal year.

Several equities analysts have weighed in on GVA shares. Zacks Investment Research raised Granite Construction from a “hold” rating to a “buy” rating and set a $65.00 target price on the stock in a research note on Friday, October 13th. Canaccord Genuity reissued a “buy” rating and issued a $70.00 target price on shares of Granite Construction in a research note on Saturday, August 26th. FBR & Co increased their target price on Granite Construction from $63.00 to $68.00 and gave the company an “outperform” rating in a research note on Tuesday, August 1st. BidaskClub lowered Granite Construction from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 27th. Finally, DA Davidson reissued a “hold” rating and issued a $65.00 target price on shares of Granite Construction in a research note on Monday, October 30th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $67.00.

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In related news, insider James D. Richards sold 4,000 shares of Granite Construction stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $55.50, for a total value of $222,000.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director William Howard Powell sold 3,103 shares of Granite Construction stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $63.85, for a total value of $198,126.55. Following the completion of the sale, the director now directly owns 46,771 shares in the company, valued at approximately $2,986,328.35. 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.

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

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