Mutual of America Capital Management LLC Sells 686 Shares of Granite Construction Incorporated (NYSE:GVA)

Mutual of America Capital Management LLC decreased its position in shares of Granite Construction Incorporated (NYSE:GVA) by 9.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,571 shares of the construction company’s stock after selling 686 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Granite Construction were worth $521,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Rothschild Investment LLC acquired a new stake in Granite Construction in the second quarter worth $33,000. Blue Trust Inc. grew its holdings in shares of 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 during the period. Headlands Technologies LLC bought a new stake in shares of Granite Construction in the 2nd quarter valued at $107,000. GAMMA Investing LLC raised its stake in Granite Construction by 82.5% during the 3rd quarter. GAMMA Investing LLC now owns 2,007 shares of the construction company’s stock worth $159,000 after buying an additional 907 shares during the period. Finally, CIBC Asset Management Inc bought a new position in Granite Construction during the third quarter worth about $214,000.

Granite Construction Stock Performance

Shares of GVA opened at $98.78 on Wednesday. The firm’s 50 day moving average price is $85.94 and its two-hundred day moving average price is $73.01. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.46 and a current ratio of 1.56. Granite Construction Incorporated has a twelve month low of $43.92 and a twelve month high of $100.57. The firm has a market cap of $4.32 billion, a P/E ratio of 45.31 and a beta of 1.39.

Granite Construction (NYSE:GVA) last issued its quarterly earnings results on Thursday, October 31st. The construction company reported $2.05 EPS for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.46). The firm had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.29 billion. Granite Construction had a net margin of 2.80% and a return on equity of 19.04%. The business’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.69 earnings per share. On average, analysts forecast that Granite Construction Incorporated will post 4.98 EPS for the current fiscal year.

Granite Construction Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date was Monday, September 30th. Granite Construction’s dividend payout ratio (DPR) is currently 23.85%.

Analysts Set New Price Targets

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

Granite Construction Company 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.