Jane Street Group LLC decreased its position in Granite Construction Inc. (NYSE:GVA) by 12.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,140 shares of the construction company’s stock after selling 887 shares during the quarter. Jane Street Group LLC’s holdings in Granite Construction were worth $356,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in GVA. Great West Life Assurance Co. Can grew its stake in shares of Granite Construction by 3.9% in the second quarter. Great West Life Assurance Co. Can now owns 24,968 shares of the construction company’s stock worth $1,203,000 after acquiring an additional 932 shares in the last quarter. Sei Investments Co. grew its stake in shares of Granite Construction by 38.3% in the second quarter. Sei Investments Co. now owns 3,285 shares of the construction company’s stock worth $158,000 after acquiring an additional 909 shares in the last quarter. Retirement Systems of Alabama grew its stake in shares of Granite Construction by 0.4% in the second quarter. Retirement Systems of Alabama now owns 51,331 shares of the construction company’s stock worth $2,476,000 after acquiring an additional 195 shares in the last quarter. Schwab Charles Investment Management Inc. grew its stake in shares of Granite Construction by 7.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 262,174 shares of the construction company’s stock worth $12,648,000 after acquiring an additional 17,431 shares in the last quarter. Finally, Arizona State Retirement System grew its stake in shares of Granite Construction by 1.8% in the second quarter. Arizona State Retirement System now owns 16,800 shares of the construction company’s stock worth $810,000 after acquiring an additional 300 shares in the last quarter. 99.49% of the stock is currently owned by institutional investors.

Granite Construction Inc. (GVA) opened at $63.18 on Wednesday. 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 company has a market cap of $2,577.15, a price-to-earnings ratio of 50.13, a P/E/G ratio of 5.68 and a beta of 1.24. Granite Construction Inc. has a 12 month low of $45.14 and a 12 month high of $67.39.

Granite Construction (NYSE:GVA) last issued its earnings results on Friday, October 27th. The construction company reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.04. The firm had revenue of $957.10 million during the quarter, compared to the consensus estimate of $905.14 million. Granite Construction had a net margin of 1.84% and a return on equity of 5.71%. The company’s revenue was up 19.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.92 earnings per share. analysts expect that Granite Construction Inc. will post 1.63 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, January 12th. Investors of record on Friday, December 29th will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.82%. Granite Construction’s payout ratio is currently 40.31%.

In other Granite Construction news, Director William Howard Powell sold 3,103 shares of the company’s stock in a transaction 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 transaction, the director now owns 46,771 shares in the company, valued at $2,986,328.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Claes Bjork sold 1,264 shares of the company’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $63.05, for a total transaction of $79,695.20. Following the completion of the transaction, the director now owns 50,972 shares of the company’s stock, valued at approximately $3,213,784.60. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

Several equities analysts have commented on the stock. B. Riley restated a “buy” rating on shares of Granite Construction in a research note on Wednesday, November 1st. Zacks Investment Research upgraded shares of Granite Construction from a “hold” rating to a “buy” rating and set a $71.00 price target for the company in a research note on Tuesday, October 31st. Canaccord Genuity boosted their price target on shares of Granite Construction from $70.00 to $75.00 and gave the stock a “buy” rating in a research note on Monday, October 30th. DA Davidson restated a “hold” rating and issued a $65.00 price target on shares of Granite Construction in a research note on Monday, October 30th. Finally, FBR & Co restated a “buy” rating and issued a $68.00 price target on shares of Granite Construction in a research note 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 stock has a consensus rating of “Buy” and an average price target of $67.00.

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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.

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

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