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

Dynamic Technology Lab Private Ltd purchased a new position in Granite Construction Incorporated (NYSE:GVA - Free Report) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 11,455 shares of the construction company's stock, valued at approximately $908,000.

Other hedge funds have also bought and sold shares of the company. Rothschild Investment LLC acquired a new position in Granite Construction in the second quarter worth about $33,000. Blue Trust Inc. boosted its stake in 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 acquiring an additional 360 shares during the period. Headlands Technologies LLC acquired a new position in Granite Construction in the second quarter valued at approximately $107,000. GAMMA Investing LLC boosted its stake in Granite Construction by 82.5% in the third quarter. GAMMA Investing LLC now owns 2,007 shares of the construction company's stock valued at $159,000 after acquiring an additional 907 shares during the period. Finally, CIBC Asset Management Inc acquired a new position in Granite Construction in the third quarter valued at approximately $214,000.

Granite Construction Stock Performance

GVA stock traded down $0.07 during midday trading on Thursday, reaching $98.69. The company had a trading volume of 355,907 shares, compared to its average volume of 538,428. The company has a quick ratio of 1.46, a current ratio of 1.56 and a debt-to-equity ratio of 0.69. The stock has a 50 day moving average price of $86.79 and a 200 day moving average price of $73.44. Granite Construction Incorporated has a fifty-two week low of $43.92 and a fifty-two week high of $100.57. The firm has a market capitalization of $4.31 billion, a PE ratio of 45.26 and a beta of 1.39.

Granite Construction (NYSE:GVA - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The construction company reported $2.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.51 by ($0.46). The business had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.29 billion. Granite Construction had a return on equity of 19.04% and a net margin of 2.80%. The business's quarterly revenue was up 14.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.69 earnings per share. Analysts anticipate that Granite Construction Incorporated will post 4.98 earnings per share for the current year.

Granite Construction Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a dividend of $0.13 per share. The ex-dividend date was Monday, September 30th. This represents a $0.52 annualized dividend and a dividend yield of 0.53%. Granite Construction's dividend payout ratio is presently 23.85%.

Analysts Set New Price Targets

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 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.