R Squared Ltd Invests $211,000 in Granite Construction Incorporated (NYSE:GVA)

R Squared Ltd bought a new stake in shares of Granite Construction Incorporated (NYSE:GVA) during the 4th quarter, HoldingsChannel.com reports. The fund bought 2,400 shares of the construction company’s stock, valued at approximately $211,000.

A number of other large investors also recently added to or reduced their stakes in the business. Sei Investments Co. increased its holdings in shares of Granite Construction by 32.3% in the second quarter. Sei Investments Co. now owns 19,400 shares of the construction company’s stock worth $1,202,000 after buying an additional 4,737 shares during the period. AQR Capital Management LLC grew its position in Granite Construction by 7.6% during the 2nd quarter. AQR Capital Management LLC now owns 11,490 shares of the construction company’s stock worth $712,000 after acquiring an additional 813 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in Granite Construction by 5.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 24,580 shares of the construction company’s stock worth $1,523,000 after purchasing an additional 1,349 shares during the period. SG Americas Securities LLC bought a new stake in Granite Construction in the third quarter valued at approximately $358,000. Finally, Handelsbanken Fonder AB boosted its stake in shares of Granite Construction by 82.5% during the third quarter. Handelsbanken Fonder AB now owns 10,837 shares of the construction company’s stock valued at $859,000 after purchasing an additional 4,900 shares during the period.

Analyst Ratings Changes

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

Granite Construction Stock Down 0.9 %

NYSE GVA opened at $85.45 on Wednesday. The business’s 50-day moving average is $92.89 and its 200 day moving average is $82.95. The stock has a market capitalization of $3.74 billion, a PE ratio of 39.20 and a beta of 1.43. 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 issued 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 business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.29 billion. Granite Construction had a return on equity of 19.04% and a net margin of 2.80%. Granite Construction’s quarterly revenue was up 14.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.69 earnings per share. Sell-side analysts forecast that Granite Construction Incorporated will post 4.98 earnings per share for the current year.

Granite Construction Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a $0.13 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.52 annualized dividend and a yield of 0.61%. Granite Construction’s dividend payout ratio (DPR) is presently 23.85%.

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.