Granite Construction Incorporated $GVA Shares Bought by Intech Investment Management LLC

Intech Investment Management LLC increased its stake in Granite Construction Incorporated (NYSE:GVA) by 247.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 118,338 shares of the construction company’s stock after purchasing an additional 84,277 shares during the period. Intech Investment Management LLC’s holdings in Granite Construction were worth $13,650,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. 12th Street Asset Management Company LLC acquired a new stake in Granite Construction in the 3rd quarter worth approximately $6,799,000. AlphaQuest LLC boosted its stake in Granite Construction by 41.5% in the 3rd quarter. AlphaQuest LLC now owns 38,809 shares of the construction company’s stock worth $4,255,000 after purchasing an additional 11,385 shares in the last quarter. Oliver Luxxe Assets LLC acquired a new stake in Granite Construction in the 4th quarter worth approximately $1,783,000. Boothbay Fund Management LLC boosted its stake in Granite Construction by 9.1% in the 3rd quarter. Boothbay Fund Management LLC now owns 160,331 shares of the construction company’s stock worth $17,580,000 after purchasing an additional 13,401 shares in the last quarter. Finally, Leuthold Group LLC boosted its stake in Granite Construction by 1,591.8% in the 4th quarter. Leuthold Group LLC now owns 45,223 shares of the construction company’s stock worth $5,216,000 after purchasing an additional 42,550 shares in the last quarter.

Granite Construction Stock Performance

Shares of NYSE GVA opened at $136.84 on Friday. The company has a current ratio of 1.09, a quick ratio of 0.97 and a debt-to-equity ratio of 0.80. Granite Construction Incorporated has a 12 month low of $87.72 and a 12 month high of $145.00. The company has a 50 day simple moving average of $128.35 and a two-hundred day simple moving average of $122.35. The stock has a market cap of $5.99 billion, a price-to-earnings ratio of 39.43 and a beta of 1.35.

Granite Construction (NYSE:GVA) last announced its quarterly earnings data on Thursday, April 30th. The construction company reported $0.26 EPS for the quarter, beating the consensus estimate of ($0.77) by $1.03. Granite Construction had a net margin of 3.99% and a return on equity of 24.90%. The business had revenue of $912.47 million during the quarter, compared to analysts’ expectations of $782.26 million. During the same period in the previous year, the business posted $0.01 EPS. The business’s quarterly revenue was up 30.4% compared to the same quarter last year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on GVA. Weiss Ratings lowered shares of Granite Construction from a “buy (b)” rating to a “hold (c+)” rating in a research report on Wednesday, May 6th. Wall Street Zen cut shares of Granite Construction from a “buy” rating to a “hold” rating in a research note on Saturday. DA Davidson lifted their price objective on shares of Granite Construction from $130.00 to $155.00 and gave the company a “buy” rating in a research note on Friday, February 13th. Finally, Oppenheimer assumed coverage on shares of Granite Construction in a research note on Thursday. They set an “outperform” rating and a $170.00 price objective for the company. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $149.67.

Insider Activity at Granite Construction

In other news, CEO Kyle T. Larkin sold 26,651 shares of Granite Construction stock in a transaction that occurred on Friday, March 27th. The shares were sold at an average price of $118.12, for a total transaction of $3,148,016.12. Following the completion of the transaction, the chief executive officer directly owned 114,881 shares of the company’s stock, valued at $13,569,743.72. The trade was a 18.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Staci M. Woolsey sold 1,523 shares of Granite Construction stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $119.84, for a total transaction of $182,516.32. Following the transaction, the chief financial officer directly owned 18,954 shares of the company’s stock, valued at approximately $2,271,447.36. This trade represents a 7.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 35,488 shares of company stock valued at $4,207,042. Company insiders own 1.00% of the company’s stock.

About Granite Construction

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.