Susquehanna Fundamental Investments LLC Grows Stock Holdings in Granite Construction Incorporated $GVA

Susquehanna Fundamental Investments LLC grew its position in Granite Construction Incorporated (NYSE:GVA) by 66.0% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 83,736 shares of the construction company’s stock after buying an additional 33,305 shares during the period. Susquehanna Fundamental Investments LLC’s holdings in Granite Construction were worth $13,237,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Hill City Capital LP bought a new position in shares of Granite Construction during the 2nd quarter worth approximately $175,508,000. First Trust Advisors LP grew its holdings in Granite Construction by 52.8% in the first quarter. First Trust Advisors LP now owns 1,397,573 shares of the construction company’s stock worth $167,541,000 after purchasing an additional 483,080 shares during the last quarter. UBS Group AG grew its holdings in Granite Construction by 262.8% in the fourth quarter. UBS Group AG now owns 647,589 shares of the construction company’s stock worth $74,699,000 after purchasing an additional 469,079 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Granite Construction by 254.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 503,906 shares of the construction company’s stock worth $58,126,000 after purchasing an additional 361,741 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Granite Construction during the fourth quarter worth $36,405,000.

Insider Buying and Selling

In related news, Director John Timothy Romer acquired 375 shares of the firm’s stock in a transaction dated Monday, June 15th. The stock was acquired at an average price of $143.65 per share, with a total value of $53,868.75. Following the acquisition, the director directly owned 2,801 shares in the company, valued at $402,363.65. This represents a 15.46% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Bradley Jay Williams sold 6,734 shares of the company’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $141.00, for a total value of $949,494.00. Following the completion of the sale, the senior vice president owned 7,041 shares in the company, valued at $992,781. The trade was a 48.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders purchased a total of 1,150 shares of company stock valued at $156,636 over the last quarter. 0.88% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

GVA has been the subject of a number of recent analyst reports. The Goldman Sachs Group lowered their price objective on Granite Construction from $139.00 to $119.00 and set a “sell” rating for the company in a research report on Friday, July 31st. Stephens began coverage on Granite Construction in a research report on Friday, June 26th. They set an “overweight” rating and a $180.00 target price on the stock. Oppenheimer increased their price target on Granite Construction from $170.00 to $180.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. Weiss Ratings raised Granite Construction from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, August 18th. Finally, Wall Street Zen lowered Granite Construction from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $158.50.

Granite Construction Stock Performance

Shares of NYSE GVA opened at $122.71 on Monday. The company has a current ratio of 1.01, a quick ratio of 0.94 and a debt-to-equity ratio of 1.46. Granite Construction Incorporated has a 12 month low of $97.26 and a 12 month high of $162.08. The company has a 50 day simple moving average of $130.84 and a two-hundred day simple moving average of $130.80. The stock has a market cap of $5.37 billion, a price-to-earnings ratio of -28.47 and a beta of 1.33.

Granite Construction (NYSE:GVA) last released its quarterly earnings data on Thursday, July 30th. The construction company reported $2.16 earnings per share for the quarter, missing analysts’ consensus estimates of $2.25 by ($0.09). Granite Construction had a positive return on equity of 27.83% and a negative net margin of 3.32%.The business had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.41 billion. During the same quarter in the previous year, the company earned $1.42 EPS. The firm’s revenue was up 28.8% compared to the same quarter last year. As a group, analysts predict that Granite Construction Incorporated will post 6.36 earnings per share for the current year.

Granite Construction Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Tuesday, June 30th. Granite Construction’s dividend payout ratio is presently -12.06%.

About Granite Construction

Granite Construction Inc is a publicly traded heavy civil contractor and construction materials producer based in Watsonville, California. The company specializes in delivering large-scale infrastructure projects for government and private clients, focusing on the development, rehabilitation and maintenance of transportation, water resource and industrial facilities. Its turnkey solutions span the full project lifecycle, from preconstruction and design-build to construction management and facilities maintenance.

In its construction segment, Granite undertakes highway and bridge building, airport runway and taxiway construction, marine terminal and port improvements, dam and reservoir projects, transit systems and underground utilities.