Quantbot Technologies LP Has $5.77 Million Stock Position in Granite Construction Incorporated $GVA

Quantbot Technologies LP raised its stake in shares of Granite Construction Incorporated (NYSE:GVA) by 34.7% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 52,636 shares of the construction company’s stock after purchasing an additional 13,574 shares during the period. Quantbot Technologies LP owned approximately 0.12% of Granite Construction worth $5,772,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Root Financial Partners LLC bought a new stake in Granite Construction during the third quarter worth $26,000. Salomon & Ludwin LLC bought a new stake in shares of Granite Construction in the 3rd quarter worth $42,000. Federated Hermes Inc. raised its holdings in shares of Granite Construction by 94.6% in the third quarter. Federated Hermes Inc. now owns 436 shares of the construction company’s stock valued at $48,000 after purchasing an additional 212 shares during the last quarter. Hantz Financial Services Inc. lifted its position in shares of Granite Construction by 222.8% during the third quarter. Hantz Financial Services Inc. now owns 707 shares of the construction company’s stock valued at $78,000 after purchasing an additional 488 shares in the last quarter. Finally, Blue Trust Inc. boosted its holdings in Granite Construction by 31.5% during the third quarter. Blue Trust Inc. now owns 898 shares of the construction company’s stock worth $98,000 after purchasing an additional 215 shares during the last quarter.

Granite Construction Price Performance

Shares of NYSE:GVA opened at $134.43 on Friday. The firm has a market capitalization of $5.85 billion, a PE ratio of 36.73 and a beta of 1.34. The company has a quick ratio of 1.13, a current ratio of 1.22 and a debt-to-equity ratio of 0.79. The company has a 50-day moving average price of $124.37 and a two-hundred day moving average price of $113.26. Granite Construction Incorporated has a twelve month low of $69.08 and a twelve month high of $137.24.

Granite Construction (NYSE:GVA) last announced its quarterly earnings results on Thursday, February 12th. The construction company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.06. Granite Construction had a net margin of 4.36% and a return on equity of 24.10%. The company had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the prior year, the company posted $1.23 EPS. Granite Construction’s revenue was up 19.2% compared to the same quarter last year. Equities analysts forecast that Granite Construction Incorporated will post 5.49 EPS for the current year.

Granite Construction Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Tuesday, March 31st. Granite Construction’s dividend payout ratio (DPR) is presently 14.21%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Wall Street Zen upgraded Granite Construction from a “hold” rating to a “buy” rating in a research note on Saturday. The Goldman Sachs Group boosted their price objective on Granite Construction from $109.00 to $124.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 28th. DA Davidson upped their price objective on Granite Construction from $130.00 to $155.00 and gave the company a “buy” rating in a research note on Friday, February 13th. Zacks Research upgraded Granite Construction from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Granite Construction in a report on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Granite Construction presently has a consensus rating of “Moderate Buy” and a consensus target price of $139.50.

Granite Construction Company Profile

Granite Construction Inc is a publicly traded heavy civil contractor and construction materials producer based in Watsonville, California. The company specializes in delivering large-scale infrastructure projects for government and private clients, focusing on the development, rehabilitation and maintenance of transportation, water resource and industrial facilities. Its turnkey solutions span the full project lifecycle, from preconstruction and design-build to construction management and facilities maintenance.

In its construction segment, Granite undertakes highway and bridge building, airport runway and taxiway construction, marine terminal and port improvements, dam and reservoir projects, transit systems and underground utilities.