Granite Construction Incorporated (NYSE:GVA) Shares Sold by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund cut its stake in Granite Construction Incorporated (NYSE:GVAGet Rating) by 65.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,600 shares of the construction company’s stock after selling 110,900 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Granite Construction were worth $1,737,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in GVA. Mutual of America Capital Management LLC raised its holdings in Granite Construction by 5.5% in the first quarter. Mutual of America Capital Management LLC now owns 6,604 shares of the construction company’s stock valued at $217,000 after acquiring an additional 343 shares in the last quarter. State of New Jersey Common Pension Fund D increased its stake in Granite Construction by 11.1% during the first quarter. State of New Jersey Common Pension Fund D now owns 73,294 shares of the construction company’s stock valued at $2,404,000 after purchasing an additional 7,302 shares during the last quarter. Pinnacle Associates Ltd. increased its stake in Granite Construction by 10.0% during the first quarter. Pinnacle Associates Ltd. now owns 196,221 shares of the construction company’s stock valued at $6,436,000 after purchasing an additional 17,809 shares during the last quarter. IndexIQ Advisors LLC bought a new stake in Granite Construction during the first quarter valued at $411,000. Finally, Teacher Retirement System of Texas increased its stake in Granite Construction by 5.3% during the first quarter. Teacher Retirement System of Texas now owns 9,438 shares of the construction company’s stock valued at $310,000 after purchasing an additional 475 shares during the last quarter. 99.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. StockNews.com assumed coverage on shares of Granite Construction in a research note on Wednesday, October 12th. They set a “hold” rating for the company. The Goldman Sachs Group lowered their target price on shares of Granite Construction from $32.00 to $28.00 and set a “sell” rating for the company in a research note on Friday, October 14th. Finally, TheStreet upgraded shares of Granite Construction from a “c+” rating to a “b-” rating in a research note on Wednesday, November 9th.

Granite Construction Stock Down 1.4 %

Granite Construction stock opened at $34.89 on Friday. The company has a 50-day simple moving average of $30.16 and a 200-day simple moving average of $30.24. The firm has a market capitalization of $1.53 billion, a P/E ratio of 27.69 and a beta of 1.42. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.44 and a current ratio of 1.52. Granite Construction Incorporated has a one year low of $25.35 and a one year high of $42.38.

Granite Construction Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 14th. Stockholders of record on Friday, September 30th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Thursday, September 29th. This represents a $0.52 annualized dividend and a dividend yield of 1.49%. Granite Construction’s dividend payout ratio is currently 41.27%.

Granite Construction Company Profile

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Granite Construction Incorporated operates as an infrastructure contractor and a construction materials producer 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.

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

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