Mizuho Markets Americas LLC Trims Position in Granite Construction Incorporated $GVA

Mizuho Markets Americas LLC decreased its position in shares of Granite Construction Incorporated (NYSE:GVA) by 25.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 206,738 shares of the construction company’s stock after selling 69,506 shares during the quarter. Mizuho Markets Americas LLC owned approximately 0.47% of Granite Construction worth $22,669,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Ethic Inc. grew its stake in shares of Granite Construction by 4.6% in the 3rd quarter. Ethic Inc. now owns 2,341 shares of the construction company’s stock valued at $257,000 after buying an additional 104 shares during the period. Parkside Financial Bank & Trust lifted its holdings in Granite Construction by 7.3% in the second quarter. Parkside Financial Bank & Trust now owns 1,642 shares of the construction company’s stock valued at $154,000 after acquiring an additional 111 shares during the last quarter. Evergreen Capital Management LLC grew its position in Granite Construction by 4.5% in the second quarter. Evergreen Capital Management LLC now owns 2,813 shares of the construction company’s stock worth $263,000 after acquiring an additional 120 shares during the period. Nisa Investment Advisors LLC increased its stake in Granite Construction by 1.3% during the third quarter. Nisa Investment Advisors LLC now owns 10,675 shares of the construction company’s stock worth $1,172,000 after acquiring an additional 140 shares during the last quarter. Finally, Dorsey & Whitney Trust CO LLC raised its position in Granite Construction by 1.7% in the second quarter. Dorsey & Whitney Trust CO LLC now owns 9,074 shares of the construction company’s stock valued at $849,000 after purchasing an additional 153 shares during the period.

Granite Construction Trading Up 0.4%

GVA opened at $121.49 on Monday. The company has a quick ratio of 1.12, a current ratio of 1.21 and a debt-to-equity ratio of 0.80. Granite Construction Incorporated has a 52 week low of $69.08 and a 52 week high of $124.99. The business’s 50 day moving average is $112.27 and its two-hundred day moving average is $106.61. The firm has a market cap of $5.30 billion, a price-to-earnings ratio of 35.01 and a beta of 1.32.

Granite Construction (NYSE:GVA) last announced its earnings results on Thursday, November 6th. The construction company reported $2.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.56 by $0.14. Granite Construction had a net margin of 4.31% and a return on equity of 24.04%. The business had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.51 billion. During the same period last year, the firm posted $2.05 earnings per share. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. On average, research analysts predict that Granite Construction Incorporated will post 5.49 EPS for the current year.

Granite Construction Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were paid a dividend of $0.13 per share. The ex-dividend date was Wednesday, December 31st. This represents a $0.52 annualized dividend and a dividend yield of 0.4%. Granite Construction’s dividend payout ratio is 14.99%.

Insider Buying and Selling at Granite Construction

In related news, Director Celeste Beeks Mastin sold 7,614 shares of the business’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $105.23, for a total value of $801,221.22. Following the transaction, the director owned 10,206 shares in the company, valued at $1,073,977.38. The trade was a 42.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on GVA shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Granite Construction in a report on Monday, December 29th. DA Davidson increased their target price on shares of Granite Construction from $125.00 to $130.00 and gave the stock a “buy” rating in a research note on Tuesday, November 11th. The Goldman Sachs Group began coverage on shares of Granite Construction in a research report on Monday, November 24th. They set a “neutral” rating and a $109.00 price target for the company. Zacks Research raised shares of Granite Construction from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. Finally, Wall Street Zen raised Granite Construction from a “hold” rating to a “buy” rating in a research report on Saturday. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, Granite Construction presently has a consensus rating of “Moderate Buy” and a consensus target price of $119.50.

Granite Construction Profile

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.