Granite Construction Incorporated (NYSE:GVA) Holdings Reduced by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC cut its stake in Granite Construction Incorporated (NYSE:GVA) by 3.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,741 shares of the construction company’s stock after selling 400 shares during the period. Nisa Investment Advisors LLC’s holdings in Granite Construction were worth $546,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in GVA. Raymond James & Associates boosted its holdings in shares of Granite Construction by 15.7% in the first quarter. Raymond James & Associates now owns 18,640 shares of the construction company’s stock valued at $611,000 after acquiring an additional 2,534 shares in the last quarter. MetLife Investment Management LLC boosted its holdings in shares of Granite Construction by 53.9% in the first quarter. MetLife Investment Management LLC now owns 25,989 shares of the construction company’s stock valued at $852,000 after acquiring an additional 9,107 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in shares of Granite Construction by 14.1% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 39,507 shares of the construction company’s stock valued at $1,296,000 after acquiring an additional 4,871 shares in the last quarter. Great West Life Assurance Co. Can boosted its holdings in shares of Granite Construction by 1.6% in the first quarter. Great West Life Assurance Co. Can now owns 41,394 shares of the construction company’s stock valued at $1,396,000 after acquiring an additional 671 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Granite Construction by 2.0% in the first quarter. Dimensional Fund Advisors LP now owns 2,390,934 shares of the construction company’s stock valued at $78,422,000 after acquiring an additional 47,937 shares in the last quarter.

Insider Activity at Granite Construction

In other Granite Construction news, Director Louis E. Caldera sold 1,263 shares of the stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $50.00, for a total value of $63,150.00. Following the completion of the sale, the director now owns 8,528 shares in the company, valued at approximately $426,400. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.54% of the stock is owned by insiders.

Granite Construction Stock Down 0.9 %

Shares of NYSE:GVA opened at $53.81 on Thursday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.49 and a current ratio of 1.60. The company has a market cap of $2.37 billion, a PE ratio of 70.80 and a beta of 1.46. Granite Construction Incorporated has a 52 week low of $33.74 and a 52 week high of $57.93. The firm has a 50 day simple moving average of $53.21 and a 200 day simple moving average of $47.65.

Granite Construction (NYSE:GVA) last issued its quarterly earnings results 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 firm had revenue of $933.70 million during the quarter. Granite Construction had a net margin of 1.24% and a return on equity of 14.15%. During the same period in the previous year, the business posted $0.56 EPS. As a group, research analysts expect that Granite Construction Incorporated will post 4.29 earnings per share for the current year.

Granite Construction Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were given a $0.13 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $0.52 annualized dividend and a dividend yield of 0.97%. Granite Construction’s dividend payout ratio (DPR) is presently 68.42%.

Analyst Ratings Changes

GVA has been the subject of a number of research reports. The Goldman Sachs Group raised their target price on shares of Granite Construction from $44.00 to $50.00 and gave the stock a “sell” rating in a report on Tuesday. DA Davidson raised their target price on shares of Granite Construction from $60.00 to $64.00 and gave the stock a “buy” rating in a report on Tuesday, February 27th.

About Granite Construction

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.