RPg Family Wealth Advisory LLC Purchases New Shares in Granite Construction Incorporated (NYSE:GVA)

RPg Family Wealth Advisory LLC purchased a new position in Granite Construction Incorporated (NYSE:GVA - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 52,425 shares of the construction company's stock, valued at approximately $4,163,000. RPg Family Wealth Advisory LLC owned 0.12% of Granite Construction as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of GVA. Millennium Management LLC boosted its holdings in Granite Construction by 99.3% during the 2nd quarter. Millennium Management LLC now owns 2,569,319 shares of the construction company's stock worth $159,221,000 after acquiring an additional 1,280,288 shares during the last quarter. Mizuho Markets Americas LLC lifted its holdings in Granite Construction by 2.5% during the third quarter. Mizuho Markets Americas LLC now owns 596,158 shares of the construction company's stock valued at $47,263,000 after purchasing an additional 14,716 shares during the last quarter. Hood River Capital Management LLC bought a new stake in shares of Granite Construction during the second quarter valued at about $29,143,000. Fisher Asset Management LLC increased its position in shares of Granite Construction by 86.4% during the third quarter. Fisher Asset Management LLC now owns 363,816 shares of the construction company's stock valued at $28,843,000 after buying an additional 168,673 shares during the period. Finally, Pinnacle Associates Ltd. increased its position in shares of Granite Construction by 3.2% during the third quarter. Pinnacle Associates Ltd. now owns 179,355 shares of the construction company's stock valued at $14,219,000 after buying an additional 5,528 shares during the period.

Analyst Ratings Changes

Separately, The Goldman Sachs Group upped their price objective 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 Stock Down 0.1 %

Shares of GVA stock traded down $0.09 during mid-day trading on Wednesday, reaching $98.67. 355,907 shares of the company's stock traded hands, compared to its average volume of 538,428. Granite Construction Incorporated has a 12 month low of $43.92 and a 12 month high of $100.57. The company has a market cap of $4.31 billion, a P/E ratio of 45.31 and a beta of 1.39. 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 company's 50-day moving average price is $86.36 and its 200-day moving average price is $73.26.

Granite Construction (NYSE:GVA - Get Free Report) last issued its earnings results 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). Granite Construction had a return on equity of 19.04% and a net margin of 2.80%. The business had revenue of $1.28 billion during the quarter, compared to analysts' expectations of $1.29 billion. During the same period last year, the firm posted $1.69 EPS. Granite Construction's quarterly revenue was up 14.2% compared to the same quarter last year. On average, equities analysts expect that Granite Construction Incorporated will post 4.98 earnings per share for the current fiscal year.

Granite Construction Announces Dividend

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

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.