Centiva Capital LP Makes New $1.32 Million Investment in Granite Construction Incorporated (NYSE:GVA)

Centiva Capital LP purchased a new position in Granite Construction Incorporated (NYSE:GVA - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 16,652 shares of the construction company's stock, valued at approximately $1,320,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD raised its stake in Granite Construction by 4.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 41,727 shares of the construction company's stock valued at $2,384,000 after purchasing an additional 1,598 shares during the period. Alpha Cubed Investments LLC lifted its stake in Granite Construction by 7.2% in the 2nd quarter. Alpha Cubed Investments LLC now owns 4,553 shares of the construction company's stock worth $282,000 after acquiring an additional 305 shares in the last quarter. Raymond James & Associates boosted its position in Granite Construction by 16.0% during the 2nd quarter. Raymond James & Associates now owns 128,511 shares of the construction company's stock worth $7,964,000 after acquiring an additional 17,738 shares during the period. Louisiana State Employees Retirement System grew its stake in Granite Construction by 1.8% during the 2nd quarter. Louisiana State Employees Retirement System now owns 22,200 shares of the construction company's stock valued at $1,376,000 after acquiring an additional 400 shares in the last quarter. Finally, Transcendent Capital Group LLC acquired a new position in shares of Granite Construction in the 2nd quarter valued at about $1,616,000.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group boosted 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 Stock Performance

Granite Construction stock traded down $1.39 during trading hours on Thursday, reaching $98.81. 560,537 shares of the company were exchanged, compared to its average volume of 535,370. Granite Construction Incorporated has a 12 month low of $43.92 and a 12 month high of $105.20. The company has a current ratio of 1.56, a quick ratio of 1.46 and a debt-to-equity ratio of 0.69. The stock has a 50-day moving average of $88.73 and a 200 day moving average of $74.72. The firm has a market cap of $4.32 billion, a price-to-earnings ratio of 45.91 and a beta of 1.41.

Granite Construction (NYSE:GVA - Get Free Report) last posted 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). The firm had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.29 billion. Granite Construction had a net margin of 2.80% and a return on equity of 19.04%. The business's quarterly revenue was up 14.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.69 earnings per share. As a group, research analysts anticipate that Granite Construction Incorporated will post 4.98 earnings per share for the current year.

Granite Construction Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date was Monday, September 30th. Granite Construction's dividend payout ratio (DPR) is currently 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.