GVA has been the topic of a number of other reports. FBR & Co boosted their target price on shares of Granite Construction from $63.00 to $68.00 and gave the stock an outperform rating in a report on Tuesday. BidaskClub raised shares of Granite Construction from a strong sell rating to a sell rating in a report on Thursday, July 6th. Zacks Investment Research raised shares of Granite Construction from a sell rating to a hold rating in a report on Tuesday, July 4th. Finally, Goldman Sachs Group, Inc. (The) raised shares of Granite Construction from a neutral rating to a buy rating and boosted their target price for the stock from $50.19 to $61.00 in a report on Monday, April 3rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus price target of $62.14.
Canaccord Genuity reissued their buy rating on shares of Granite Construction Incorporated (NYSE:GVA) in a research report released on Tuesday. The firm currently has a $70.00 price objective on the construction company’s stock.
Shares of Granite Construction (NYSE GVA) traded down 1.0650% during trading on Tuesday, reaching $53.8899. 217,211 shares of the company traded hands. The firm has a market capitalization of $2.15 billion, a price-to-earnings ratio of 49.8058 and a beta of 1.20. The company has a 50 day moving average price of $49.23 and a 200 day moving average price of $50.96. Granite Construction has a 12-month low of $42.59 and a 12-month high of $62.18.
Granite Construction (NYSE:GVA) last posted its earnings results on Tuesday, August 1st. The construction company reported $0.35 earnings per share for the quarter, missing the Zacks’ 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 business had revenue of $762.90 million for the quarter, compared to the consensus estimate of $684.32 million. During the same period in the previous year, the firm earned $0.35 earnings per share. The company’s revenue was up 26.2% compared to the same quarter last year. On average, equities analysts predict that Granite Construction will post $1.81 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Friday, June 30th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date of this dividend was Wednesday, June 28th. Granite Construction’s dividend payout ratio is currently 48.60%.
In other news, Director William Howard Powell sold 3,000 shares of the company’s stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $49.60, for a total value of $148,800.00. Following the sale, the director now directly owns 49,858 shares of the company’s stock, valued at approximately $2,472,956.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director James Hildebrand Roberts sold 17,442 shares of the company’s stock in a transaction on Friday, June 9th. The shares were sold at an average price of $50.34, for a total transaction of $878,030.28. Following the completion of the sale, the director now directly owns 54,594 shares in the company, valued at $2,748,261.96. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.
Several large investors have recently bought and sold shares of the stock. Sei Investments Co. purchased a new stake in Granite Construction during the first quarter worth approximately $119,000. Tower Research Capital LLC TRC raised its stake in Granite Construction by 111.1% in the first quarter. Tower Research Capital LLC TRC now owns 2,597 shares of the construction company’s stock worth $130,000 after buying an additional 1,367 shares in the last quarter. LS Investment Advisors LLC raised its stake in Granite Construction by 44.0% in the first quarter. LS Investment Advisors LLC now owns 3,977 shares of the construction company’s stock worth $200,000 after buying an additional 1,215 shares in the last quarter. Laurion Capital Management LP purchased a new stake in Granite Construction during the first quarter worth approximately $216,000. Finally, Norman Fields Gottscho Capital Management LLC purchased a new stake in Granite Construction during the second quarter worth approximately $224,000. 94.07% of the stock is currently owned by institutional investors.
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.