Granite Construction Inc. (NYSE:GVA) Shares Bought by Peregrine Capital Management LLC

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Peregrine Capital Management LLC lifted its holdings in shares of Granite Construction Inc. (NYSE:GVA) by 2.7% in the third quarter, according to its most recent filing with the SEC. The firm owned 587,484 shares of the construction company’s stock after acquiring an additional 15,508 shares during the period. Peregrine Capital Management LLC owned approximately 1.29% of Granite Construction worth $26,848,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Xact Kapitalforvaltning AB boosted its stake in shares of Granite Construction by 18.5% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 7,037 shares of the construction company’s stock valued at $392,000 after purchasing an additional 1,100 shares during the last quarter. Liberty Mutual Group Asset Management Inc. raised its holdings in shares of Granite Construction by 15.3% in the second quarter. Liberty Mutual Group Asset Management Inc. now owns 9,053 shares of the construction company’s stock valued at $504,000 after purchasing an additional 1,204 shares during the last quarter. Amalgamated Bank raised its holdings in shares of Granite Construction by 22.7% in the second quarter. Amalgamated Bank now owns 6,976 shares of the construction company’s stock valued at $388,000 after purchasing an additional 1,291 shares during the last quarter. Sei Investments Co. raised its holdings in shares of Granite Construction by 40.0% in the second quarter. Sei Investments Co. now owns 5,110 shares of the construction company’s stock valued at $284,000 after purchasing an additional 1,460 shares during the last quarter. Finally, Global X Management Co LLC raised its holdings in shares of Granite Construction by 18.8% in the second quarter. Global X Management Co LLC now owns 9,703 shares of the construction company’s stock valued at $540,000 after purchasing an additional 1,538 shares during the last quarter. 96.72% of the stock is owned by institutional investors.

In related news, Director Claes Bjork acquired 6,500 shares of the company’s stock in a transaction on Tuesday, August 14th. The shares were acquired at an average cost of $44.25 per share, for a total transaction of $287,625.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 1.30% of the stock is owned by company insiders.

A number of equities analysts recently weighed in on the stock. ValuEngine upgraded shares of Granite Construction from a “sell” rating to a “hold” rating in a report on Wednesday. MKM Partners set a $59.00 price objective on shares of Granite Construction and gave the company a “buy” rating in a report on Wednesday. Zacks Investment Research downgraded shares of Granite Construction from a “hold” rating to a “sell” rating in a report on Thursday, November 1st. DA Davidson set a $60.00 target price on shares of Granite Construction and gave the company a “buy” rating in a research report on Monday, October 29th. They noted that the move was a valuation call. Finally, TheStreet downgraded Granite Construction from a “b” rating to a “c+” rating in a research note on Monday, August 13th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $66.20.

NYSE:GVA traded down $1.05 on Friday, reaching $52.80. 375,024 shares of the stock traded hands, compared to its average volume of 697,581. The company has a market capitalization of $2.61 billion, a PE ratio of 32.59, a P/E/G ratio of 2.67 and a beta of 1.07. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.73 and a current ratio of 1.84. Granite Construction Inc. has a 1-year low of $39.51 and a 1-year high of $68.58.

Granite Construction (NYSE:GVA) last posted its quarterly earnings results on Friday, October 26th. The construction company reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.24 by $0.18. Granite Construction had a return on equity of 9.37% and a net margin of 2.13%. The firm had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same period in the prior year, the business earned $1.14 EPS. The company’s revenue for the quarter was up 10.3% compared to the same quarter last year. Research analysts predict that Granite Construction Inc. will post 2.99 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, October 12th. Investors of record on Friday, September 28th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date of this dividend was Thursday, September 27th. Granite Construction’s dividend payout ratio is currently 32.10%.

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Granite Construction Profile

Granite Construction Incorporated operates as a heavy civil contractor and a construction materials producer in the United States. The company operates through three segments: Construction, Large Project Construction, and Construction Materials. The Construction segment undertakes various civil construction projects focusing on new construction and improvement of streets, roads, highways, bridges, site work, underground, power-related facilities, water-related facilities, utilities, and other infrastructure projects.

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

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