Granite Construction (NYSE:GVA – Get Free Report) had its price target upped by research analysts at The Goldman Sachs Group from $44.00 to $50.00 in a report issued on Tuesday, Benzinga reports. The firm currently has a “sell” rating on the construction company’s stock. The Goldman Sachs Group’s price target points to a potential downside of 7.06% from the stock’s previous close.
Separately, DA Davidson increased their price objective on Granite Construction from $60.00 to $64.00 and gave the stock a “buy” rating in a research report on Tuesday, February 27th.
Check Out Our Latest Stock Analysis on Granite Construction
Granite Construction Stock Down 1.5 %
Granite Construction (NYSE:GVA – Get Free Report) last issued its quarterly earnings data on Thursday, February 22nd. The construction company reported $0.82 EPS for the quarter, missing the consensus estimate of $0.84 by ($0.02). The company had revenue of $933.70 million during the quarter. Granite Construction had a return on equity of 14.15% and a net margin of 1.24%. During the same period in the previous year, the business posted $0.56 earnings per share. As a group, equities research analysts expect that Granite Construction will post 4.29 earnings per share for the current fiscal year.
Insider Activity at Granite Construction
In other news, Director Louis E. Caldera sold 1,263 shares of Granite Construction stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $50.00, for a total value of $63,150.00. Following the completion of the transaction, the director now owns 8,528 shares in the company, valued at approximately $426,400. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.54% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Granite Construction
Institutional investors and hedge funds have recently bought and sold shares of the company. Exchange Traded Concepts LLC purchased a new position in Granite Construction during the 3rd quarter worth $27,000. Belpointe Asset Management LLC raised its holdings in Granite Construction by 320.6% in the 1st quarter. Belpointe Asset Management LLC now owns 673 shares of the construction company’s stock worth $28,000 after purchasing an additional 513 shares during the period. Envestnet Asset Management Inc. acquired a new position in Granite Construction in the 1st quarter worth about $38,000. GAMMA Investing LLC acquired a new position in shares of Granite Construction during the fourth quarter valued at approximately $43,000. Finally, Macquarie Group Ltd. acquired a new position in shares of Granite Construction during the first quarter valued at approximately $43,000.
Granite Construction Company Profile
Granite Construction Incorporated operates as an infrastructure contractor in the United States. It operates through two segments: Construction and Materials segments. The Construction segment engages in the construction and rehabilitation of roads, pavement preservation, bridges, rail lines, airports, marine ports, dams, reservoirs, aqueducts, infrastructure, and site development for use by the public and water-related construction for municipal agencies, commercial water suppliers, industrial facilities, and energy companies; and construction of various complex projects, including infrastructure/site development, mining, public safety, tunnel, solar storage, and power related projects.
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