BlueCrest Capital Management Ltd bought a new position in shares of Granite Construction Inc. (NYSE:GVA) during the 4th quarter, HoldingsChannel reports. The firm bought 19,530 shares of the construction company’s stock, valued at approximately $1,239,000.
Other large investors also recently bought and sold shares of the company. Fieldpoint Private Securities LLC purchased a new stake in shares of Granite Construction during the third quarter worth $106,000. Advisor Group Inc. lifted its position in shares of Granite Construction by 169.1% during the third quarter. Advisor Group Inc. now owns 1,862 shares of the construction company’s stock worth $108,000 after acquiring an additional 1,170 shares in the last quarter. Royal Bank of Canada lifted its position in shares of Granite Construction by 56.3% during the second quarter. Royal Bank of Canada now owns 2,441 shares of the construction company’s stock worth $118,000 after acquiring an additional 879 shares in the last quarter. Public Employees Retirement System of Ohio lifted its position in shares of 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 worth $158,000 after acquiring an additional 218 shares in the last quarter. Finally, Global X Management Co. LLC lifted its position in shares of Granite Construction by 75.2% during the fourth quarter. Global X Management Co. LLC now owns 2,760 shares of the construction company’s stock worth $175,000 after acquiring an additional 1,185 shares in the last quarter. Hedge funds and other institutional investors own 96.05% of the company’s stock.
Shares of Granite Construction Inc. (GVA) opened at $61.94 on Tuesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.88 and a quick ratio of 1.78. Granite Construction Inc. has a 12-month low of $45.14 and a 12-month high of $68.58. The stock has a market capitalization of $2,470.00, a price-to-earnings ratio of 38.47, a P/E/G ratio of 2.77 and a beta of 1.30.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 13th. Investors of record on Friday, March 30th will be given a $0.13 dividend. The ex-dividend date is Wednesday, March 28th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.84%. Granite Construction’s dividend payout ratio (DPR) is presently 32.30%.
In related news, Director Claes Bjork sold 1,264 shares of the stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $63.05, for a total value of $79,695.20. Following the sale, the director now owns 50,972 shares in the company, valued at $3,213,784.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.30% of the company’s stock.
Several equities research analysts have issued reports on GVA shares. Zacks Investment Research upgraded Granite Construction from a “hold” rating to a “buy” rating and set a $72.00 target price on the stock in a research report on Tuesday, January 9th. DA Davidson increased their target price on Granite Construction to $68.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 20th. Finally, Cowen increased their target price on Granite Construction from $70.00 to $85.00 and gave the stock an “outperform” rating in a research report on Thursday, January 18th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $69.38.
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.
Want to see what other hedge funds are holding GVA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Granite Construction Inc. (NYSE:GVA).
Receive News & Ratings for Granite Construction Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Granite Construction and related companies with MarketBeat.com's FREE daily email newsletter.