Granite Construction Incorporated (NYSE:GVA) is Hill City Capital LP's 7th Largest Position

Hill City Capital LP boosted its stake in Granite Construction Incorporated (NYSE:GVA - Free Report) by 5.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 978,938 shares of the construction company's stock after buying an additional 48,440 shares during the quarter. Granite Construction makes up approximately 5.1% of Hill City Capital LP's portfolio, making the stock its 7th largest holding. Hill City Capital LP owned approximately 2.24% of Granite Construction worth $77,610,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Millennium Management LLC lifted its stake in Granite Construction by 99.3% in the 2nd quarter. Millennium Management LLC now owns 2,569,319 shares of the construction company's stock worth $159,221,000 after purchasing an additional 1,280,288 shares in the last quarter. Mizuho Markets Americas LLC lifted its position 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 worth $47,263,000 after buying an additional 14,716 shares in the last quarter. Hood River Capital Management LLC purchased a new stake in Granite Construction in the 2nd quarter valued at $29,143,000. Fisher Asset Management LLC increased its stake in shares of Granite Construction by 86.4% in the 3rd quarter. Fisher Asset Management LLC now owns 363,816 shares of the construction company's stock worth $28,843,000 after acquiring an additional 168,673 shares during the last quarter. Finally, Pinnacle Associates Ltd. raised its holdings in shares of Granite Construction by 3.2% during the 3rd quarter. Pinnacle Associates Ltd. now owns 179,355 shares of the construction company's stock worth $14,219,000 after acquiring an additional 5,528 shares during the period.

Granite Construction Trading Up 0.3 %

NYSE:GVA traded up $0.33 on Tuesday, reaching $99.09. The company's stock had a trading volume of 412,691 shares, compared to its average volume of 535,599. The firm has a market cap of $4.33 billion, a price-to-earnings ratio of 45.30 and a beta of 1.41. The company has a quick ratio of 1.46, a current ratio of 1.56 and a debt-to-equity ratio of 0.69. Granite Construction Incorporated has a 12-month low of $43.92 and a 12-month high of $100.57. The stock has a 50 day moving average price of $87.93 and a 200 day moving average price of $74.28.

Granite Construction (NYSE:GVA - Get Free Report) last posted its quarterly earnings data 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). The company had revenue of $1.28 billion for the quarter, compared to analysts' expectations of $1.29 billion. Granite Construction had a return on equity of 19.04% and a net margin of 2.80%. The business's revenue for the quarter was up 14.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.69 EPS. On average, equities analysts anticipate that Granite Construction Incorporated will post 4.98 EPS for the current fiscal 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 paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 0.52%. The ex-dividend date of this dividend was Monday, September 30th. Granite Construction's payout ratio is 23.85%.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group raised 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 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.