Bard Financial Services Inc. Has $219,000 Stock Position in Granite Construction Incorporated (NYSE:GVA)

Bard Financial Services Inc. cut its holdings in Granite Construction Incorporated (NYSE:GVA) by 28.1% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,500 shares of the construction company’s stock after selling 975 shares during the period. Bard Financial Services Inc.’s holdings in Granite Construction were worth $219,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Natixis Advisors LLC grew its position in shares of Granite Construction by 4.3% during the 2nd quarter. Natixis Advisors LLC now owns 12,906 shares of the construction company’s stock worth $800,000 after purchasing an additional 530 shares in the last quarter. Arizona State Retirement System increased its stake 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 worth $763,000 after acquiring an additional 235 shares during the period. Choreo LLC bought a new position in Granite Construction during the 2nd quarter worth $223,000. Headlands Technologies LLC acquired a new position in Granite Construction in the 2nd quarter valued at $107,000. Finally, Mercer Global Advisors Inc. ADV lifted its position in shares of Granite Construction by 12.6% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 5,711 shares of the construction company’s stock valued at $354,000 after acquiring an additional 639 shares during the period.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group boosted their price target 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 Price Performance

NYSE:GVA traded up $0.88 during mid-day trading on Monday, reaching $90.32. The stock had a trading volume of 93,373 shares, compared to its average volume of 334,526. The stock has a 50-day simple moving average of $93.48 and a two-hundred day simple moving average of $79.40. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.56 and a quick ratio of 1.46. Granite Construction Incorporated has a 12 month low of $43.92 and a 12 month high of $105.20. The stock has a market capitalization of $3.95 billion, a PE ratio of 41.43 and a beta of 1.41.

Granite Construction (NYSE:GVA) last issued 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). Granite Construction had a net margin of 2.80% and a return on equity of 19.04%. The business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter in the previous year, the business posted $1.69 EPS. The company’s revenue for the quarter was up 14.2% on a year-over-year basis. On average, equities analysts anticipate that Granite Construction Incorporated will post 4.98 earnings per share for the current year.

Granite Construction Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a $0.13 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.58%. Granite Construction’s payout ratio is currently 23.85%.

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.