Boston Partners Buys 11,732 Shares of Granite Construction Incorporated (GVA)

Boston Partners boosted its stake in Granite Construction Incorporated (NYSE:GVA) by 2.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 464,613 shares of the construction company’s stock after purchasing an additional 11,732 shares during the period. Boston Partners owned about 1.17% of Granite Construction worth $26,924,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of GVA. Royal Bank of Canada increased its holdings in Granite Construction by 56.3% in the second quarter. Royal Bank of Canada now owns 2,441 shares of the construction company’s stock valued at $118,000 after purchasing an additional 879 shares during the period. Sei Investments Co. boosted its position in Granite Construction by 38.3% during the second quarter. Sei Investments Co. now owns 3,285 shares of the construction company’s stock valued at $158,000 after acquiring an additional 909 shares during the last quarter. Public Employees Retirement System of Ohio boosted its position in Granite Construction by 7.1% during the second quarter. Public Employees Retirement System of Ohio now owns 3,282 shares of the construction company’s stock valued at $158,000 after acquiring an additional 218 shares during the last quarter. Riverhead Capital Management LLC boosted its position in Granite Construction by 65.0% during the second quarter. Riverhead Capital Management LLC now owns 3,630 shares of the construction company’s stock valued at $175,000 after acquiring an additional 1,430 shares during the last quarter. Finally, Flinton Capital Management LLC boosted its position in Granite Construction by 68.8% during the second quarter. Flinton Capital Management LLC now owns 3,672 shares of the construction company’s stock valued at $177,000 after acquiring an additional 1,496 shares during the last quarter. Institutional investors and hedge funds own 97.68% of the company’s stock.

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Granite Construction Incorporated (GVA) opened at $63.47 on Monday. The stock has a market cap of $2,529.33, a PE ratio of 49.20, a PEG ratio of 5.57 and a beta of 1.24. The company has a current ratio of 1.79, a quick ratio of 1.71 and a debt-to-equity ratio of 0.24. Granite Construction Incorporated has a 1 year low of $45.14 and a 1 year high of $67.20.

Granite Construction (NYSE:GVA) last released its quarterly earnings data on Friday, October 27th. The construction company reported $1.14 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.10 by $0.04. The company had revenue of $957.10 million for the quarter, compared to analysts’ expectations of $905.14 million. Granite Construction had a net margin of 1.84% and a return on equity of 5.71%. The business’s revenue was up 19.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.92 EPS. research analysts forecast that Granite Construction Incorporated will post 1.63 earnings per share for the current fiscal year.

In other news, insider James D. Richards sold 4,000 shares of the stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $55.50, for a total transaction of $222,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.30% of the stock is owned by corporate insiders.

GVA has been the topic of a number of research analyst reports. Zacks Investment Research raised shares of Granite Construction from a “hold” rating to a “buy” rating and set a $65.00 price target on the stock in a research report on Friday, October 13th. Canaccord Genuity reaffirmed a “buy” rating and set a $70.00 price target on shares of Granite Construction in a research report on Saturday, August 26th. FBR & Co upped their price target on shares of Granite Construction from $63.00 to $68.00 and gave the company an “outperform” rating in a research report on Tuesday, August 1st. BidaskClub cut shares of Granite Construction from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 27th. Finally, Cowen and Company reaffirmed a “buy” rating and set a $70.00 price target on shares of Granite Construction in a research report on Tuesday, September 19th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $67.00.

Granite Construction Profile

Granite Construction Incorporated is a heavy civil contractor and construction materials producer in the United States. The Company operates through three segments: Construction, Large Project Construction and Construction Materials. The Company operates across the nation, serving both public and private sector clients.

Institutional Ownership by Quarter for Granite Construction (NYSE:GVA)

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