International Assets Investment Management LLC Takes $556,000 Position in Granite Construction Incorporated (NYSE:GVA)

International Assets Investment Management LLC bought a new stake in Granite Construction Incorporated (NYSE:GVA) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 10,935 shares of the construction company’s stock, valued at approximately $556,000.

Other hedge funds also recently modified their holdings of the company. Exchange Traded Concepts LLC bought a new position in shares of Granite Construction in the 3rd quarter valued at about $27,000. Raymond James Financial Services Advisors Inc. bought a new position in Granite Construction during the 4th quarter worth approximately $290,000. Caxton Associates LP bought a new position in Granite Construction during the 3rd quarter worth approximately $241,000. HighTower Advisors LLC bought a new position in Granite Construction during the 3rd quarter worth approximately $279,000. Finally, Park Avenue Securities LLC bought a new position in Granite Construction during the 3rd quarter worth approximately $308,000.

Insider Activity

In other news, Director Louis E. Caldera sold 1,263 shares of Granite Construction stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $50.00, for a total value of $63,150.00. Following the sale, the director now directly owns 8,528 shares in the company, valued at $426,400. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.54% of the stock is owned by corporate insiders.

Granite Construction Stock Performance

Shares of GVA stock opened at $54.48 on Thursday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.49 and a current ratio of 1.60. The company has a market capitalization of $2.40 billion, a P/E ratio of 71.68 and a beta of 1.46. The company’s 50 day moving average price is $53.70 and its two-hundred day moving average price is $48.19. Granite Construction Incorporated has a 52 week low of $33.74 and a 52 week high of $57.93.

Granite Construction (NYSE:GVA) last announced its earnings results on Thursday, February 22nd. The construction company reported $0.82 EPS for the quarter, missing the consensus estimate of $0.84 by ($0.02). The company had revenue of $933.70 million for the quarter. Granite Construction had a return on equity of 14.15% and a net margin of 1.24%. During the same quarter in the prior year, the business earned $0.56 EPS. On average, analysts expect that Granite Construction Incorporated will post 4.29 earnings per share for the current fiscal year.

Granite Construction Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were issued a $0.13 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.95%. Granite Construction’s dividend payout ratio (DPR) is presently 68.42%.

Wall Street Analysts Forecast Growth

GVA has been the topic of several recent analyst reports. The Goldman Sachs Group lifted their price objective on shares of Granite Construction from $44.00 to $50.00 and gave the stock a “sell” rating in a research note on Tuesday, April 16th. DA Davidson lifted their price objective on shares of Granite Construction from $60.00 to $64.00 and gave the stock a “buy” rating in a research note on Tuesday, February 27th.

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.