The Granite Construction Incorporated (NYSE:GVA) Stake Raised by Dubuque Bank & Trust Co.

The Granite Construction Incorporated (NYSE:GVA) Stake Raised by Dubuque Bank & Trust Co.

Several other hedge funds have also bought and sold shares of the stock. Suntrust Banks Inc. increased its stake in Granite Construction by 178.1% in the first quarter. Suntrust Banks Inc. now owns 34,353 shares of the construction company’s stock worth $1,724,000 after buying an additional 22,000 shares during the period. American Century Companies Inc. boosted its position in Granite Construction by 0.4% in the first quarter. American Century Companies Inc. now owns 160,944 shares of the construction company’s stock valued at $8,078,000 after buying an additional 600 shares in the last quarter. First National Bank of Omaha boosted its position in Granite Construction by 48.3% in the first quarter. First National Bank of Omaha now owns 29,948 shares of the construction company’s stock valued at $1,503,000 after buying an additional 9,760 shares in the last quarter. Cortina Asset Management LLC boosted its position in Granite Construction by 27.3% in the first quarter. Cortina Asset Management LLC now owns 596,399 shares of the construction company’s stock valued at $29,933,000 after buying an additional 127,825 shares in the last quarter. Finally, Trexquant Investment LP boosted its position in Granite Construction by 2.9% in the first quarter. Trexquant Investment LP now owns 8,600 shares of the construction company’s stock valued at $432,000 after buying an additional 243 shares in the last quarter. Institutional investors own 94.07% of the company’s stock.

Dubuque Bank & Trust Co. raised its position in shares of Granite Construction Incorporated (NYSE:GVA) by 3.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,082 shares of the construction company’s stock after buying an additional 149 shares during the period. Dubuque Bank & Trust Co.’s holdings in Granite Construction were worth $245,000 as of its most recent SEC filing.

Shares of Granite Construction Incorporated (GVA) traded down 2.09% on Wednesday, reaching $53.33. The company’s stock had a trading volume of 297,415 shares. The firm’s 50-day moving average price is $49.23 and its 200-day moving average price is $50.96. The stock has a market cap of $2.12 billion, a P/E ratio of 49.29 and a beta of 1.20. Granite Construction Incorporated has a 12 month low of $42.59 and a 12 month high of $62.18.

Granite Construction (NYSE:GVA) last announced its quarterly earnings data on Tuesday, August 1st. The construction company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by $0.25. Granite Construction had a return on equity of 4.85% and a net margin of 1.71%. The firm had revenue of $762.90 million during the quarter, compared to the consensus estimate of $684.32 million. During the same period last year, the company earned $0.35 EPS. The firm’s revenue for the quarter was up 26.2% compared to the same quarter last year. On average, analysts forecast that Granite Construction Incorporated will post $1.81 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Investors of record on Friday, June 30th were paid a $0.13 dividend. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $0.52 annualized dividend and a yield of 0.95%. Granite Construction’s dividend payout ratio (DPR) is currently 48.60%.

A number of equities analysts have commented on the stock. FBR & Co lifted their price objective on shares of Granite Construction from $63.00 to $68.00 and gave the stock an “outperform” rating in a research report on Tuesday. Canaccord Genuity reaffirmed a “buy” rating and set a $70.00 price objective on shares of Granite Construction in a research report on Wednesday, May 3rd. BidaskClub raised Granite Construction from a “strong sell” rating to a “sell” rating in a report on Thursday, July 6th. Finally, Zacks Investment Research raised Granite Construction from a “sell” rating to a “hold” rating in a report on Tuesday, July 4th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $62.14.

In related news, Director William Howard Powell sold 3,000 shares of the stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $49.60, for a total value of $148,800.00. Following the transaction, the director now owns 49,858 shares of the company’s stock, valued at $2,472,956.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director James Hildebrand Roberts sold 17,442 shares of the stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $50.34, for a total value of $878,030.28. Following the completion of the transaction, the director now directly owns 54,594 shares in the company, valued at approximately $2,748,261.96. The disclosure for this sale can be found here. 1.30% of the stock is owned by corporate insiders.

About Granite Construction

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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