Amalgamated Bank Has $1.02 Million Stock Position in Granite Construction Incorporated (NYSE:GVA)

Amalgamated Bank lowered its position in Granite Construction Incorporated (NYSE:GVA) by 4.8% during the third quarter, HoldingsChannel.com reports. The firm owned 12,846 shares of the construction company’s stock after selling 643 shares during the quarter. Amalgamated Bank’s holdings in Granite Construction were worth $1,018,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Stephens Inc. AR acquired a new stake in shares of Granite Construction during the 3rd quarter valued at about $369,000. US Bancorp DE raised its position in Granite Construction by 77.5% during the third quarter. US Bancorp DE now owns 2,730 shares of the construction company’s stock valued at $216,000 after acquiring an additional 1,192 shares in the last quarter. Pinnacle Associates Ltd. lifted its stake in Granite Construction by 3.2% in the third quarter. Pinnacle Associates Ltd. now owns 179,355 shares of the construction company’s stock valued at $14,219,000 after acquiring an additional 5,528 shares during the last quarter. Hedges Asset Management LLC bought a new stake in Granite Construction in the third quarter worth approximately $238,000. Finally, BayBridge Capital Group LLC acquired a new position in shares of Granite Construction during the 3rd quarter worth $551,000.

Granite Construction Stock Down 1.0 %

GVA opened at $95.75 on Friday. The firm has a market cap of $4.19 billion, a P/E ratio of 43.92 and a beta of 1.39. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.46 and a current ratio of 1.56. The business has a 50 day moving average price of $82.60 and a 200 day moving average price of $70.90. Granite Construction Incorporated has a twelve month low of $43.92 and a twelve month high of $99.32.

Granite Construction (NYSE:GVA) last issued its quarterly earnings data on Thursday, October 31st. The construction company reported $2.05 earnings per share for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.46). Granite Construction had a return on equity of 19.04% and a net margin of 2.80%. The firm had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.29 billion. During the same quarter in the previous year, the firm posted $1.69 earnings per share. Granite Construction’s quarterly revenue was up 14.2% compared to the same quarter last year. Research analysts forecast that Granite Construction Incorporated will post 5.55 EPS for the current year.

Granite Construction Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a dividend of $0.13 per share. 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 dividend payout ratio (DPR) is 23.85%.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group lifted their price objective on shares of 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 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.