1,050,668 Shares in Granite Construction Incorporated (NYSE:GVA) Bought by Pacer Advisors Inc.

Pacer Advisors Inc. bought a new stake in shares of Granite Construction Incorporated (NYSE:GVA) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 1,050,668 shares of the construction company’s stock, valued at approximately $92,154,000. Pacer Advisors Inc. owned about 2.40% of Granite Construction at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. KBC Group NV raised its position in shares of Granite Construction by 26.6% in the fourth quarter. KBC Group NV now owns 1,751 shares of the construction company’s stock worth $154,000 after buying an additional 368 shares in the last quarter. Atomi Financial Group Inc. boosted its position in Granite Construction by 6.7% during the 4th quarter. Atomi Financial Group Inc. now owns 4,769 shares of the construction company’s stock valued at $418,000 after buying an additional 301 shares during the period. Ballentine Partners LLC bought a new stake in Granite Construction in the fourth quarter valued at $242,000. Hennessy Advisors Inc. purchased a new stake in Granite Construction in the fourth quarter worth $61,046,000. Finally, Fiduciary Financial Group LLC purchased a new position in shares of Granite Construction during the fourth quarter valued at approximately $545,000.

Granite Construction Trading Down 1.3 %

Shares of GVA stock opened at $91.59 on Monday. The company has a market cap of $4.00 billion, a price-to-earnings ratio of 42.01 and a beta of 1.43. The stock has a 50 day simple moving average of $93.34 and a 200-day simple moving average of $82.63. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.56 and a quick ratio of 1.46. Granite Construction Incorporated has a 1-year low of $43.92 and a 1-year high of $105.20.

Granite Construction (NYSE:GVA) last announced its quarterly earnings data on Thursday, October 31st. The construction company reported $2.05 earnings per share for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.46). The firm had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.29 billion. Granite Construction had a net margin of 2.80% and a return on equity of 19.04%. The company’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.69 EPS. On average, equities research analysts expect that Granite Construction Incorporated will post 4.98 EPS for the current fiscal year.

Granite Construction Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 0.57%. The ex-dividend date of this dividend was Tuesday, December 31st. Granite Construction’s payout ratio is presently 23.85%.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group boosted their price target on Granite Construction from $61.00 to $70.00 and gave the company a “sell” rating in a report on Wednesday, October 9th.

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.