Teton Advisors LLC Acquires Shares of 4,700 Granite Construction Incorporated $GVA

Teton Advisors LLC bought a new position in shares of Granite Construction Incorporated (NYSE:GVA) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm bought 4,700 shares of the construction company’s stock, valued at approximately $515,000.

A number of other institutional investors have also made changes to their positions in GVA. Frontier Capital Management Co. LLC raised its position in shares of Granite Construction by 14.3% during the 2nd quarter. Frontier Capital Management Co. LLC now owns 1,370,029 shares of the construction company’s stock valued at $128,111,000 after acquiring an additional 171,904 shares in the last quarter. First Trust Advisors LP boosted its holdings in Granite Construction by 4.0% in the second quarter. First Trust Advisors LP now owns 1,221,031 shares of the construction company’s stock worth $114,179,000 after purchasing an additional 46,552 shares during the period. Geode Capital Management LLC increased its stake in Granite Construction by 0.8% during the second quarter. Geode Capital Management LLC now owns 1,037,916 shares of the construction company’s stock valued at $97,066,000 after purchasing an additional 7,979 shares during the last quarter. Hood River Capital Management LLC increased its stake in Granite Construction by 36.6% during the second quarter. Hood River Capital Management LLC now owns 647,093 shares of the construction company’s stock valued at $60,510,000 after purchasing an additional 173,237 shares during the last quarter. Finally, Boston Partners lifted its holdings in Granite Construction by 0.3% in the second quarter. Boston Partners now owns 589,212 shares of the construction company’s stock worth $55,190,000 after acquiring an additional 2,003 shares during the last quarter.

Granite Construction Price Performance

Shares of NYSE:GVA opened at $123.67 on Friday. The firm’s 50 day moving average is $125.51 and its two-hundred day moving average is $113.92. The firm has a market capitalization of $5.38 billion, a P/E ratio of 33.79 and a beta of 1.30. The company has a current ratio of 1.22, a quick ratio of 1.13 and a debt-to-equity ratio of 0.79. Granite Construction Incorporated has a 52 week low of $69.08 and a 52 week high of $137.24.

Granite Construction (NYSE:GVA) last issued its quarterly earnings data on Thursday, February 12th. The construction company reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.06. Granite Construction had a return on equity of 24.10% and a net margin of 4.36%.The business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the previous year, the firm posted $1.23 earnings per share. The business’s revenue was up 19.2% on a year-over-year basis. Analysts anticipate that Granite Construction Incorporated will post 5.49 earnings per share for the current year.

Granite Construction Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Tuesday, March 31st. Granite Construction’s payout ratio is 14.21%.

Analyst Ratings Changes

A number of equities analysts have commented on GVA shares. DA Davidson lifted their target price on Granite Construction from $130.00 to $155.00 and gave the company a “buy” rating in a research note on Friday, February 13th. Zacks Research raised Granite Construction from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. Weiss Ratings restated a “buy (b)” rating on shares of Granite Construction in a research report on Monday, December 29th. Wall Street Zen upgraded Granite Construction from a “hold” rating to a “buy” rating in a research note on Saturday, February 28th. Finally, The Goldman Sachs Group increased their target price on Granite Construction from $109.00 to $124.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 28th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $139.50.

Granite Construction Profile

Granite Construction Inc is a publicly traded heavy civil contractor and construction materials producer based in Watsonville, California. The company specializes in delivering large-scale infrastructure projects for government and private clients, focusing on the development, rehabilitation and maintenance of transportation, water resource and industrial facilities. Its turnkey solutions span the full project lifecycle, from preconstruction and design-build to construction management and facilities maintenance.

In its construction segment, Granite undertakes highway and bridge building, airport runway and taxiway construction, marine terminal and port improvements, dam and reservoir projects, transit systems and underground utilities.