11,455 Shares in Granite Construction Incorporated (NYSE:GVA) Bought by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd purchased a new stake in shares of Granite Construction Incorporated (NYSE:GVA) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 11,455 shares of the construction company’s stock, valued at approximately $908,000.

A number of other large investors have also added to or reduced their stakes in the company. EFG Asset Management North America Corp. boosted its holdings in shares of Granite Construction by 0.5% during the second quarter. EFG Asset Management North America Corp. now owns 38,191 shares of the construction company’s stock worth $2,365,000 after purchasing an additional 180 shares during the period. Arizona State Retirement System grew its position in shares of Granite Construction by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 12,309 shares of the construction company’s stock worth $763,000 after buying an additional 235 shares during the last quarter. Alpha Cubed Investments LLC increased its stake in shares of Granite Construction by 7.2% during the second quarter. Alpha Cubed Investments LLC now owns 4,553 shares of the construction company’s stock valued at $282,000 after buying an additional 305 shares during the period. Blue Trust Inc. raised its holdings in shares of Granite Construction by 66.4% during the third quarter. Blue Trust Inc. now owns 902 shares of the construction company’s stock valued at $72,000 after acquiring an additional 360 shares in the last quarter. Finally, Louisiana State Employees Retirement System lifted its stake in Granite Construction by 1.8% in the second quarter. Louisiana State Employees Retirement System now owns 22,200 shares of the construction company’s stock worth $1,376,000 after acquiring an additional 400 shares during the period.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group upped their price objective on shares of Granite Construction from $61.00 to $70.00 and gave the stock a “sell” rating in a report on Wednesday, October 9th.

Granite Construction Stock Performance

Granite Construction stock opened at $98.67 on Thursday. Granite Construction Incorporated has a fifty-two week low of $43.92 and a fifty-two week high of $100.57. The stock has a market cap of $4.31 billion, a price-to-earnings ratio of 45.26 and a beta of 1.39. The stock’s 50 day simple moving average is $86.36 and its two-hundred day simple moving average is $73.26. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.46 and a current ratio of 1.56.

Granite Construction (NYSE:GVA) last issued its quarterly earnings results on Thursday, October 31st. The construction company reported $2.05 earnings per share for the quarter, missing the consensus estimate 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 return on equity of 19.04% and a net margin of 2.80%. Granite Construction’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.69 earnings per share. As a group, analysts expect that Granite Construction Incorporated will post 4.98 earnings per share for the current fiscal year.

Granite Construction Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.52 dividend on an annualized basis and a yield of 0.53%. Granite Construction’s dividend payout ratio (DPR) is currently 23.85%.

Granite Construction Company Profile

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.