Signature Financial Management Inc. acquired a new position in Granite Construction (NYSE:GVA) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 28,990 shares of the construction company’s stock, valued at approximately $1,619,000. Signature Financial Management Inc. owned approximately 0.07% of Granite Construction as of its most recent SEC filing.
A number of other large investors have also modified their holdings of GVA. Schwab Charles Investment Management Inc. raised its stake in Granite Construction by 6.6% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 299,912 shares of the construction company’s stock worth $19,024,000 after buying an additional 18,513 shares in the last quarter. SG Americas Securities LLC raised its stake in Granite Construction by 2,194.6% in the fourth quarter. SG Americas Securities LLC now owns 58,720 shares of the construction company’s stock worth $3,725,000 after buying an additional 56,161 shares in the last quarter. Investment House LLC bought a new position in Granite Construction in the fourth quarter worth approximately $214,000. Parametrica Management Ltd purchased a new position in Granite Construction in the fourth quarter worth $360,000. Finally, Victory Capital Management Inc. grew its holdings in Granite Construction by 2.4% in the fourth quarter. Victory Capital Management Inc. now owns 859,962 shares of the construction company’s stock worth $54,547,000 after purchasing an additional 19,775 shares during the last quarter. 96.16% of the stock is owned by institutional investors.
Several equities analysts have issued reports on the stock. ValuEngine raised shares of Granite Construction from a “sell” rating to a “hold” rating in a report on Tuesday, May 8th. DA Davidson raised shares of Granite Construction from a “neutral” rating to a “buy” rating in a report on Thursday, April 5th. Finally, Zacks Investment Research lowered shares of Granite Construction from a “buy” rating to a “hold” rating in a report on Tuesday, March 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. Granite Construction has an average rating of “Hold” and an average target price of $72.00.
NYSE GVA opened at $59.30 on Tuesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.80 and a current ratio of 1.92. Granite Construction has a 12-month low of $45.78 and a 12-month high of $68.58. The firm has a market capitalization of $2.38 billion, a price-to-earnings ratio of 36.60, a PEG ratio of 2.53 and a beta of 1.36.
Granite Construction (NYSE:GVA) last released its quarterly earnings results on Monday, April 30th. The construction company reported ($0.13) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.37) by $0.24. Granite Construction had a net margin of 2.64% and a return on equity of 8.82%. The business had revenue of $563.40 million for the quarter, compared to analyst estimates of $534.77 million. During the same period in the previous year, the company earned ($0.60) earnings per share. The business’s revenue for the quarter was up 20.3% on a year-over-year basis. sell-side analysts anticipate that Granite Construction will post 3.36 EPS for the current year.
About Granite Construction
Granite Construction Incorporated operates as a heavy civil contractor and a construction materials producer in the United States. The company operates through three segments: Construction, Large Project Construction, and Construction Materials. The Construction segment undertakes various civil construction projects focusing on new construction and improvement of streets, roads, highways, bridges, site work, underground, power-related facilities, water-related facilities, utilities, and other infrastructure projects.
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