Granite Construction Incorporated (NYSE:GVA) Shares Acquired by Tidal Investments LLC

Tidal Investments LLC increased its stake in shares of Granite Construction Incorporated (NYSE:GVA) by 195.8% in the third quarter, Holdings Channel.com reports. The institutional investor owned 13,730 shares of the construction company’s stock after acquiring an additional 9,089 shares during the period. Tidal Investments LLC’s holdings in Granite Construction were worth $1,089,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the stock. EFG Asset Management North America Corp. grew its position 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 acquiring an additional 180 shares during the last quarter. Arizona State Retirement System grew its position in 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 purchasing an additional 235 shares during the last quarter. Blue Trust Inc. increased its stake in shares of Granite Construction by 66.4% in the third quarter. Blue Trust Inc. now owns 902 shares of the construction company’s stock valued at $72,000 after purchasing an additional 360 shares during the period. Louisiana State Employees Retirement System raised its holdings in shares of Granite Construction by 1.8% during the second quarter. Louisiana State Employees Retirement System now owns 22,200 shares of the construction company’s stock valued at $1,376,000 after buying an additional 400 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Granite Construction by 4.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,919 shares of the construction company’s stock worth $615,000 after buying an additional 458 shares during the period.

Analyst Ratings Changes

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

Granite Construction Price Performance

Shares of NYSE:GVA opened at $90.00 on Friday. The stock’s 50 day moving average price is $91.89 and its 200 day moving average price is $77.10. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.56 and a quick ratio of 1.46. The stock has a market cap of $3.93 billion, a price-to-earnings ratio of 41.28 and a beta of 1.41. Granite Construction Incorporated has a 12 month low of $43.92 and a 12 month high of $105.20.

Granite Construction (NYSE:GVA) last released its 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). Granite Construction had a return on equity of 19.04% and a net margin of 2.80%. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same period in the previous year, the firm earned $1.69 earnings per share. Granite Construction’s revenue was up 14.2% on a year-over-year basis. Equities research analysts anticipate that Granite Construction Incorporated will post 4.98 earnings per share for the current fiscal year.

Granite Construction Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 0.58%. The ex-dividend date of this dividend is Tuesday, December 31st. Granite Construction’s dividend payout ratio 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.