First Trust Advisors LP Purchases 71,099 Shares of Granite Construction Incorporated (NYSE:GVA)

First Trust Advisors LP increased its position in shares of Granite Construction Incorporated (NYSE:GVAFree Report) by 15.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 533,324 shares of the construction company’s stock after purchasing an additional 71,099 shares during the quarter. First Trust Advisors LP’s holdings in Granite Construction were worth $27,125,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in GVA. GAMMA Investing LLC purchased a new position in shares of Granite Construction during the fourth quarter valued at approximately $43,000. Toth Financial Advisory Corp grew its position in Granite Construction by 35.1% in the 4th quarter. Toth Financial Advisory Corp now owns 2,500 shares of the construction company’s stock valued at $127,000 after acquiring an additional 650 shares during the last quarter. Connable Office Inc. purchased a new stake in Granite Construction in the fourth quarter worth $221,000. Caxton Associates LP bought a new stake in shares of Granite Construction during the third quarter worth $241,000. Finally, HighTower Advisors LLC purchased a new stake in shares of Granite Construction during the third quarter valued at $279,000.

Granite Construction Trading Up 0.5 %

NYSE GVA opened at $59.48 on Tuesday. Granite Construction Incorporated has a one year low of $33.74 and a one year high of $64.33. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.51. The company has a market capitalization of $2.63 billion, a price-to-earnings ratio of 100.81 and a beta of 1.46. The company’s 50-day simple moving average is $58.62 and its two-hundred day simple moving average is $52.82.

Granite Construction (NYSE:GVAGet Free Report) last released its quarterly earnings data on Thursday, May 2nd. The construction company reported ($0.21) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.28. The firm had revenue of $672.28 million for the quarter. Granite Construction had a net margin of 0.98% and a return on equity of 14.91%. Equities analysts forecast that Granite Construction Incorporated will post 4.76 EPS for the current fiscal year.

Granite Construction Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date of this dividend is Friday, June 28th. Granite Construction’s payout ratio is currently 88.14%.

Analyst Ratings Changes

A number of brokerages recently weighed in on GVA. The Goldman Sachs Group lifted their price objective on shares of Granite Construction from $44.00 to $50.00 and gave the company a “sell” rating in a report on Tuesday, April 16th. DA Davidson boosted their price target on Granite Construction from $60.00 to $64.00 and gave the company a “buy” rating in a report on Tuesday, February 27th.

Get Our Latest Stock Report on Granite Construction

Insider Buying and Selling

In other Granite Construction news, SVP Bradley Jay Williams sold 750 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $61.21, for a total value of $45,907.50. Following the completion of the sale, the senior vice president now directly owns 7,423 shares in the company, valued at $454,361.83. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.81% of the stock is currently owned by company insiders.

Granite Construction Profile

(Free Report)

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.

Recommended Stories

Want to see what other hedge funds are holding GVA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Granite Construction Incorporated (NYSE:GVAFree Report).

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

Receive News & Ratings for Granite Construction Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Granite Construction and related companies with MarketBeat.com's FREE daily email newsletter.