Bernzott Capital Advisors Has $5.72 Million Position in Granite Construction Incorporated (NYSE:GVA)

Bernzott Capital Advisors trimmed its stake in shares of Granite Construction Incorporated (NYSE:GVA - Free Report) by 12.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 65,207 shares of the construction company's stock after selling 9,114 shares during the quarter. Granite Construction comprises approximately 2.8% of Bernzott Capital Advisors' investment portfolio, making the stock its 22nd biggest position. Bernzott Capital Advisors owned about 0.15% of Granite Construction worth $5,719,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Blue Trust Inc. grew its position in shares of Granite Construction by 66.4% during the 3rd quarter. Blue Trust Inc. now owns 902 shares of the construction company's stock worth $72,000 after purchasing an additional 360 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of 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 buying an additional 907 shares during the period. Point72 DIFC Ltd acquired a new stake in Granite Construction during the third quarter worth approximately $203,000. CIBC Asset Management Inc acquired a new stake in Granite Construction during the third quarter worth approximately $214,000. Finally, US Bancorp DE increased its stake in Granite Construction by 77.5% during the 3rd quarter. US Bancorp DE now owns 2,730 shares of the construction company's stock worth $216,000 after acquiring an additional 1,192 shares during the period.

Analysts Set New Price Targets

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

Granite Construction Price Performance

Shares of NYSE:GVA traded up $0.14 during midday trading on Friday, hitting $92.35. The stock had a trading volume of 802,777 shares, compared to its average volume of 464,662. The company's 50-day moving average price is $93.81 and its 200-day moving average price is $80.98. Granite Construction Incorporated has a fifty-two week low of $43.92 and a fifty-two week high of $105.20. 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 capitalization of $4.04 billion, a P/E ratio of 42.36 and a beta of 1.43.

Granite Construction (NYSE:GVA - Get Free Report) last released its quarterly earnings data 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 company 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%. Granite Construction's revenue for the quarter was up 14.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.69 earnings per share. As a group, equities research analysts predict that Granite Construction Incorporated will post 4.98 EPS for the current fiscal year.

Granite Construction Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a $0.13 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.56%. 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.