SG Americas Securities LLC Acquires Shares of 4,520 Granite Construction Incorporated (NYSE:GVA)

SG Americas Securities LLC bought a new position in shares of Granite Construction Incorporated (NYSE:GVA) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 4,520 shares of the construction company’s stock, valued at approximately $358,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GVA. Rothschild Investment LLC bought a new stake in Granite Construction during the second quarter worth $33,000. Wellington Shields & Co. LLC increased its position in shares of Granite Construction by 30.8% during the 1st quarter. Wellington Shields & Co. LLC now owns 850 shares of the construction company’s stock valued at $49,000 after purchasing an additional 200 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of Granite Construction during the 2nd quarter worth $107,000. Riverview Trust Co purchased a new position in shares of Granite Construction in the 1st quarter worth about $107,000. Finally, Bard Financial Services Inc. bought a new position in Granite Construction during the second quarter valued at about $215,000.

Wall Street Analyst Weigh In

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

Granite Construction Price Performance

Shares of NYSE GVA opened at $82.22 on Friday. The company has a current ratio of 1.68, a quick ratio of 1.56 and a debt-to-equity ratio of 0.75. The stock has a fifty day simple moving average of $76.23 and a two-hundred day simple moving average of $66.46. Granite Construction Incorporated has a 1-year low of $33.74 and a 1-year high of $83.28. The firm has a market cap of $3.63 billion, a price-to-earnings ratio of 139.36 and a beta of 1.38.

Granite Construction (NYSE:GVA) last posted its quarterly earnings results on Thursday, August 1st. The construction company reported $1.73 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.41. Granite Construction had a return on equity of 17.82% and a net margin of 2.35%. The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the prior year, the company earned $1.03 EPS. The firm’s quarterly revenue was up 20.5% compared to the same quarter last year. Analysts anticipate that Granite Construction Incorporated will post 5.24 earnings per share for the current year.

Granite Construction Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a $0.13 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.52 annualized dividend and a dividend yield of 0.63%. Granite Construction’s payout ratio is 88.14%.

Insider Activity

In related news, SVP Michael G. Tatusko sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $69.22, for a total value of $346,100.00. Following the completion of the transaction, the senior vice president now directly owns 21,943 shares of the company’s stock, valued at approximately $1,518,894.46. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.81% of the company’s stock.

About Granite Construction

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.