Mizuho Markets Americas LLC Has $47.26 Million Stake in Granite Construction Incorporated (NYSE:GVA)

Mizuho Markets Americas LLC boosted its position in Granite Construction Incorporated (NYSE:GVA - Free Report) by 2.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 596,158 shares of the construction company's stock after purchasing an additional 14,716 shares during the period. Granite Construction makes up about 1.0% of Mizuho Markets Americas LLC's portfolio, making the stock its 23rd largest holding. Mizuho Markets Americas LLC owned 1.36% of Granite Construction worth $47,263,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. UniSuper Management Pty Ltd acquired a new stake in Granite Construction during the 1st quarter valued at $607,000. Comerica Bank raised its position in Granite Construction by 177.6% during the first quarter. Comerica Bank now owns 113,514 shares of the construction company's stock valued at $6,485,000 after buying an additional 72,621 shares during the period. SG Americas Securities LLC boosted its position in Granite Construction by 296.6% during the 1st quarter. SG Americas Securities LLC now owns 13,138 shares of the construction company's stock worth $751,000 after acquiring an additional 9,825 shares during the period. Castleark Management LLC grew its stake in Granite Construction by 4.3% during the 1st quarter. Castleark Management LLC now owns 72,580 shares of the construction company's stock valued at $4,146,000 after acquiring an additional 2,960 shares in the last quarter. Finally, Highbridge Capital Management LLC acquired a new position in shares of Granite Construction in the 2nd quarter valued at about $4,513,000.

Analyst Upgrades and Downgrades

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

Granite Construction Stock Down 0.1 %

Shares of NYSE:GVA traded down $0.13 during midday trading on Friday, hitting $95.61. 321,953 shares of the stock were exchanged, compared to its average volume of 541,398. The company has a market capitalization of $4.18 billion, a PE ratio of 43.86 and a beta of 1.39. Granite Construction Incorporated has a 52-week low of $43.92 and a 52-week high of $99.32. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.46 and a current ratio of 1.56. The business's fifty day simple moving average is $83.08 and its two-hundred day simple moving average is $71.17.

Granite Construction (NYSE:GVA - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The construction company reported $2.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.51 by ($0.46). The firm had revenue of $1.28 billion for 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 firm's quarterly revenue was up 14.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.69 earnings per share. As a group, research analysts predict that Granite Construction Incorporated will post 5.55 earnings per share for the current fiscal year.

Granite Construction Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a dividend of $0.13 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.52 annualized dividend and a dividend yield of 0.54%. Granite Construction's dividend payout ratio is 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.