B. Metzler seel. Sohn & Co. Holding AG Makes New $1.75 Million Investment in Granite Construction Incorporated (NYSE:GVA)

B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Granite Construction Incorporated (NYSE:GVA) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 22,059 shares of the construction company’s stock, valued at approximately $1,749,000. B. Metzler seel. Sohn & Co. Holding AG owned 0.05% of Granite Construction as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. EFG Asset Management North America Corp. boosted its stake in shares of Granite Construction by 0.5% during the 2nd quarter. EFG Asset Management North America Corp. now owns 38,191 shares of the construction company’s stock valued at $2,365,000 after buying an additional 180 shares during the period. Arizona State Retirement System boosted its stake in shares of Granite Construction by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 12,309 shares of the construction company’s stock valued at $763,000 after buying an additional 235 shares during the period. Alpha Cubed Investments LLC lifted its stake in shares of Granite Construction by 7.2% in the 2nd quarter. Alpha Cubed Investments LLC now owns 4,553 shares of the construction company’s stock valued at $282,000 after purchasing an additional 305 shares during the last quarter. Blue Trust Inc. lifted its stake 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 purchasing an additional 360 shares during the last quarter. Finally, Louisiana State Employees Retirement System lifted its stake in shares of Granite Construction by 1.8% in the 2nd quarter. Louisiana State Employees Retirement System now owns 22,200 shares of the construction company’s stock valued at $1,376,000 after purchasing an additional 400 shares during the last quarter.

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 Stock Up 1.1 %

GVA stock opened at $99.25 on Friday. The company has a current ratio of 1.56, a quick ratio of 1.46 and a debt-to-equity ratio of 0.69. Granite Construction Incorporated has a 1 year low of $43.92 and a 1 year high of $99.72. The company has a fifty day simple moving average of $85.05 and a 200 day simple moving average of $72.30. The firm has a market cap of $4.34 billion, a PE ratio of 45.53 and a beta of 1.39.

Granite Construction (NYSE:GVA) last released its earnings results 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). The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.29 billion. Granite Construction had a return on equity of 19.04% and a net margin of 2.80%. The firm’s revenue was up 14.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.69 EPS. Sell-side analysts anticipate that Granite Construction Incorporated will post 4.98 EPS for the current fiscal year.

Granite Construction Announces Dividend

The company also recently announced 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 0.52%. The ex-dividend date of this dividend was Monday, September 30th. Granite Construction’s dividend payout ratio is 23.85%.

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.