New Mexico Educational Retirement Board lessened its holdings in shares of Granite Construction Inc. (NYSE:GVA) by 14.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,200 shares of the construction company’s stock after selling 1,500 shares during the period. New Mexico Educational Retirement Board’s holdings in Granite Construction were worth $371,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of GVA. FMR LLC lifted its holdings in shares of Granite Construction by 3.0% during the second quarter. FMR LLC now owns 58,600 shares of the construction company’s stock valued at $3,262,000 after purchasing an additional 1,700 shares during the last quarter. California Public Employees Retirement System lifted its holdings in shares of Granite Construction by 45.7% during the second quarter. California Public Employees Retirement System now owns 112,129 shares of the construction company’s stock valued at $6,241,000 after purchasing an additional 35,161 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Granite Construction by 10.7% during the second quarter. Bank of New York Mellon Corp now owns 927,700 shares of the construction company’s stock valued at $51,636,000 after purchasing an additional 89,572 shares during the last quarter. Bank of Montreal Can lifted its holdings in shares of Granite Construction by 3.0% during the third quarter. Bank of Montreal Can now owns 259,170 shares of the construction company’s stock valued at $11,845,000 after purchasing an additional 7,520 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D raised its holdings in Granite Construction by 47.2% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 390,000 shares of the construction company’s stock worth $17,823,000 after acquiring an additional 125,000 shares during the last quarter. 96.68% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE GVA opened at $42.17 on Monday. Granite Construction Inc. has a twelve month low of $38.55 and a twelve month high of $63.39. The company has a market capitalization of $1.98 billion, a P/E ratio of 26.03, a PEG ratio of 1.64 and a beta of 1.23. The company has a quick ratio of 1.73, a current ratio of 1.84 and a debt-to-equity ratio of 0.23.

The business also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 29th will be given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date of this dividend is Thursday, March 28th. Granite Construction’s dividend payout ratio (DPR) is presently 32.10%.

In other Granite Construction news, Director James Hildebrand Roberts sold 2,200 shares of Granite Construction stock in a transaction that occurred on Monday, November 26th. The shares were sold at an average price of $53.08, for a total value of $116,776.00. Following the completion of the sale, the director now owns 61,394 shares of the company’s stock, valued at approximately $3,258,793.52. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.00% of the company’s stock.

A number of equities analysts recently weighed in on the stock. DA Davidson set a $60.00 price objective on shares of Granite Construction and gave the stock a “buy” rating in a report on Monday, October 29th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Granite Construction from a “sell” rating to a “hold” rating in a report on Tuesday, January 8th. MKM Partners set a $55.00 price objective on shares of Granite Construction and gave the stock a “buy” rating in a report on Tuesday, October 30th. Goldman Sachs Group lowered shares of Granite Construction from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $58.00 to $50.00 in a report on Monday, December 10th. Finally, TheStreet upgraded shares of Granite Construction from a “c+” rating to a “b” rating in a report on Wednesday, November 21st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $59.20.

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About Granite Construction

Granite Construction Incorporated operates as a heavy civil contractor and a construction materials producer in the United States. The company operates through three segments: Construction, Large Project Construction, and Construction Materials. The Construction segment undertakes various civil construction projects focusing on new construction and improvement of streets, roads, highways, bridges, site work, underground, power-related facilities, water-related facilities, utilities, and other infrastructure projects.

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

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