Fisher Asset Management LLC raised its position in shares of Granite Construction Incorporated (NYSE:GVA – Free Report) by 86.4% during the third quarter, HoldingsChannel reports. The fund owned 363,816 shares of the construction company’s stock after acquiring an additional 168,673 shares during the quarter. Fisher Asset Management LLC’s holdings in Granite Construction were worth $28,843,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the company. Rothschild Investment LLC purchased a new position in shares of Granite Construction during the 2nd quarter worth about $33,000. Blue Trust Inc. lifted its stake in Granite Construction by 66.4% in the third quarter. Blue Trust Inc. now owns 902 shares of the construction company’s stock worth $72,000 after purchasing an additional 360 shares during the last quarter. Headlands Technologies LLC purchased a new position in shares of Granite Construction during the second quarter valued at approximately $107,000. GAMMA Investing LLC grew its stake in shares of Granite Construction by 82.5% during the third quarter. GAMMA Investing LLC now owns 2,007 shares of the construction company’s stock valued at $159,000 after buying an additional 907 shares during the last quarter. Finally, CIBC Asset Management Inc purchased a new stake in shares of Granite Construction in the third quarter worth approximately $214,000.
Granite Construction Trading Down 0.4 %
NYSE GVA opened at $98.78 on Wednesday. Granite Construction Incorporated has a 12 month low of $43.92 and a 12 month high of $100.57. The company’s 50-day moving average price is $85.94 and its 200-day moving average price is $73.01. The stock has a market cap of $4.32 billion, a PE ratio of 45.31 and a beta of 1.39. The company has a current ratio of 1.56, a quick ratio of 1.46 and a debt-to-equity ratio of 0.69.
Granite Construction Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date of this dividend was Monday, September 30th. Granite Construction’s dividend payout ratio (DPR) is presently 23.85%.
Analysts Set New Price Targets
Separately, The Goldman Sachs Group boosted their price objective on Granite Construction from $61.00 to $70.00 and gave the company a “sell” rating in a report on Wednesday, October 9th.
Get Our Latest Stock Analysis on GVA
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.
Featured Stories
- Five stocks we like better than Granite Construction
- What is the Dow Jones Industrial Average (DJIA)?
- Cerence Up 155% in 2 Days: SoundHound AI’s Fierce Competitor
- How to buy stock: A step-by-step guide for beginners
- Why Warren Buffett Is Selling: A Look at His Latest Market Moves
- Best ESG Stocks: 11 Best Stocks for ESG Investing
- Why Amazon Shares May Never Trade Below $200 Again
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:GVA – Free Report).
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.