22,059 Shares in Granite Construction Incorporated (NYSE:GVA) Bought by B. Metzler seel. Sohn & Co. Holding AG

B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Granite Construction Incorporated (NYSE:GVA - Free Report) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 22,059 shares of the construction company's stock, valued at approximately $1,749,000. B. Metzler seel. Sohn & Co. Holding AG owned approximately 0.05% of Granite Construction at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. EFG Asset Management North America Corp. increased its stake 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 valued at $2,365,000 after purchasing an additional 180 shares in the last quarter. Arizona State Retirement System increased its position in Granite Construction by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 12,309 shares of the construction company's stock valued at $763,000 after buying an additional 235 shares in the last quarter. Alpha Cubed Investments LLC raised its stake in Granite Construction by 7.2% during the second quarter. Alpha Cubed Investments LLC now owns 4,553 shares of the construction company's stock valued at $282,000 after buying an additional 305 shares during the last quarter. Blue Trust Inc. boosted its holdings in Granite Construction by 66.4% in the third quarter. Blue Trust Inc. now owns 902 shares of the construction company's stock worth $72,000 after acquiring an additional 360 shares in the last quarter. Finally, Louisiana State Employees Retirement System boosted its holdings in Granite Construction by 1.8% in the second quarter. Louisiana State Employees Retirement System now owns 22,200 shares of the construction company's stock worth $1,376,000 after acquiring an additional 400 shares in the last quarter.

Granite Construction Stock Up 1.1 %

Shares of NYSE GVA traded up $1.08 during midday trading on Friday, hitting $99.29. The stock had a trading volume of 334,035 shares, compared to its average volume of 722,441. The business's 50 day moving average is $85.50 and its 200-day moving average is $72.57. Granite Construction Incorporated has a 52 week low of $43.92 and a 52 week high of $99.72. 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 has a market cap of $4.34 billion, a P/E ratio of 45.55 and a beta of 1.39.

Granite Construction (NYSE:GVA - Get Free Report) last issued its earnings results on Thursday, October 31st. The construction company reported $2.05 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 analysts' expectations of $1.29 billion. Granite Construction had a net margin of 2.80% and a return on equity of 19.04%. The business's revenue for the quarter was up 14.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.69 earnings per share. As a group, analysts predict that Granite Construction Incorporated will post 4.98 EPS for the current year.

Granite Construction Dividend Announcement

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

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group raised their price target on Granite Construction from $61.00 to $70.00 and gave the company a "sell" rating in a report on Wednesday, October 9th.

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.