3,121 Shares in Granite Construction Incorporated (NYSE:GVA) Acquired by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. acquired a new position in shares of Granite Construction Incorporated (NYSE:GVA) in the 3rd quarter, HoldingsChannel.com reports. The fund acquired 3,121 shares of the construction company’s stock, valued at approximately $247,000.

A number of other institutional investors also recently bought and sold shares of GVA. Rothschild Investment LLC acquired a new stake in shares of Granite Construction in the second quarter valued at approximately $33,000. Blue Trust Inc. lifted its stake in Granite Construction by 66.4% in the 3rd quarter. Blue Trust Inc. now owns 902 shares of the construction company’s stock valued at $72,000 after buying an additional 360 shares in the last quarter. Headlands Technologies LLC acquired a new stake in Granite Construction during the 2nd quarter valued at $107,000. GAMMA Investing LLC increased its position in Granite Construction by 82.5% during the third quarter. GAMMA Investing LLC now owns 2,007 shares of the construction company’s stock worth $159,000 after buying an additional 907 shares in the last quarter. Finally, Bard Financial Services Inc. acquired a new position in shares of Granite Construction in the second quarter worth $215,000.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group increased their price objective 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 Stock Performance

NYSE:GVA opened at $96.43 on Tuesday. Granite Construction Incorporated has a 1-year low of $43.92 and a 1-year high of $99.32. The firm has a 50 day simple moving average of $83.08 and a 200-day simple moving average of $71.40. The firm has a market cap of $4.21 billion, a PE ratio of 44.24 and a beta of 1.39. 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 (NYSE:GVA) last issued its quarterly earnings results on Thursday, October 31st. The construction company reported $2.05 earnings per share 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 analyst estimates of $1.29 billion. During the same quarter last year, the firm posted $1.69 earnings per share. The company’s revenue was up 14.2% on a year-over-year basis. On average, equities analysts expect that Granite Construction Incorporated will post 4.98 EPS for the current year.

Granite Construction Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date of this dividend was Monday, September 30th. Granite Construction’s 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.