Granite Construction Incorporated (NYSE:GVA) Shares Sold by Bernzott Capital Advisors

Bernzott Capital Advisors trimmed its holdings in shares of Granite Construction Incorporated (NYSE:GVA) by 12.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 65,207 shares of the construction company’s stock after selling 9,114 shares during the period. Granite Construction comprises 2.8% of Bernzott Capital Advisors’ investment portfolio, making the stock its 22nd largest position. Bernzott Capital Advisors owned 0.15% of Granite Construction worth $5,719,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. GAMMA Investing LLC lifted its position in Granite Construction by 8.5% during the fourth quarter. GAMMA Investing LLC now owns 2,178 shares of the construction company’s stock valued at $191,000 after buying an additional 171 shares in the last quarter. Blue Trust Inc. lifted its position 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 worth $72,000 after purchasing an additional 360 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its position in shares of Granite Construction by 12.6% during the second quarter. Mercer Global Advisors Inc. ADV now owns 5,711 shares of the construction company’s stock worth $354,000 after purchasing an additional 639 shares in the last quarter. Castleark Management LLC lifted its position in shares of Granite Construction by 0.9% during the third quarter. Castleark Management LLC now owns 72,520 shares of the construction company’s stock worth $5,749,000 after purchasing an additional 670 shares in the last quarter. Finally, Natixis Advisors LLC lifted its position in shares of Granite Construction by 6.2% during the third quarter. Natixis Advisors LLC now owns 13,712 shares of the construction company’s stock worth $1,087,000 after purchasing an additional 806 shares in the last quarter.

Granite Construction Trading Up 0.6 %

NYSE GVA opened at $92.18 on Friday. The company’s fifty day simple moving average is $93.81 and its 200-day simple moving average is $80.98. Granite Construction Incorporated has a 52 week low of $43.92 and a 52 week high of $105.20. The company has a current ratio of 1.56, a quick ratio of 1.46 and a debt-to-equity ratio of 0.69. The stock has a market cap of $4.03 billion, a P/E ratio of 42.28 and a beta of 1.43.

Granite Construction (NYSE:GVA) last issued its quarterly earnings results on Thursday, October 31st. The construction company reported $2.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.46). The company 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%. The firm’s quarterly revenue was up 14.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.69 EPS. Equities research analysts predict that Granite Construction Incorporated will post 4.98 EPS for the current fiscal year.

Granite Construction Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a $0.13 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.56%. Granite Construction’s dividend payout ratio (DPR) is presently 23.85%.

Analyst Upgrades and Downgrades

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

Granite Construction 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.