ValuEngine upgraded shares of Granite Construction (NYSE:GVA) from a sell rating to a hold rating in a research note released on Wednesday.

GVA has been the topic of a number of other research reports. Zacks Investment Research downgraded shares of Granite Construction from a hold rating to a sell rating in a report on Thursday, November 1st. MKM Partners set a $59.00 price target on shares of Granite Construction and gave the company a buy rating in a report on Wednesday. Canaccord Genuity restated a buy rating and set a $65.00 price target (down previously from $75.00) on shares of Granite Construction in a report on Thursday, August 9th. DA Davidson set a $60.00 price target on shares of Granite Construction and gave the company a buy rating in a report on Monday, October 29th. They noted that the move was a valuation call. Finally, TheStreet downgraded shares of Granite Construction from a b rating to a c+ rating in a report on Monday, August 13th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $66.20.

Granite Construction stock opened at $52.80 on Wednesday. The firm has a market cap of $2.53 billion, a PE ratio of 32.59, a price-to-earnings-growth ratio of 2.58 and a beta of 1.07. The company has a current ratio of 1.84, a quick ratio of 1.73 and a debt-to-equity ratio of 0.23. Granite Construction has a 1-year low of $39.51 and a 1-year high of $68.58.

Granite Construction (NYSE:GVA) last released its quarterly earnings results on Friday, October 26th. The construction company reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.24 by $0.18. The business had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.14 billion. Granite Construction had a net margin of 2.13% and a return on equity of 9.37%. Granite Construction’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.14 EPS. On average, research analysts expect that Granite Construction will post 2.99 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, October 12th. Investors of record on Friday, September 28th were issued a $0.13 dividend. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $0.52 annualized dividend and a yield of 0.98%. Granite Construction’s dividend payout ratio (DPR) is presently 32.10%.

In other news, Director Claes Bjork bought 6,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 14th. The shares were purchased at an average price of $44.25 per share, for a total transaction of $287,625.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.30% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Federated Investors Inc. PA raised its holdings in Granite Construction by 152.0% in the 2nd quarter. Federated Investors Inc. PA now owns 72,546 shares of the construction company’s stock worth $4,038,000 after acquiring an additional 43,756 shares during the period. Liberty Mutual Group Asset Management Inc. increased its holdings in shares of Granite Construction by 15.3% during the 2nd quarter. Liberty Mutual Group Asset Management Inc. now owns 9,053 shares of the construction company’s stock worth $504,000 after purchasing an additional 1,204 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp bought a new position in shares of Granite Construction during the 2nd quarter worth about $245,000. Sei Investments Co. increased its holdings in shares of Granite Construction by 40.0% during the 2nd quarter. Sei Investments Co. now owns 5,110 shares of the construction company’s stock worth $284,000 after purchasing an additional 1,460 shares during the period. Finally, Swiss National Bank increased its holdings in shares of Granite Construction by 13.4% during the 2nd quarter. Swiss National Bank now owns 78,700 shares of the construction company’s stock worth $4,380,000 after purchasing an additional 9,300 shares during the period. Hedge funds and other institutional investors own 96.72% of the company’s stock.

Granite Construction Company Profile

Granite Construction Incorporated operates as a heavy civil contractor and a construction materials producer in the United States. The company operates through three segments: Construction, Large Project Construction, and Construction Materials. The Construction segment undertakes various civil construction projects focusing on new construction and improvement of streets, roads, highways, bridges, site work, underground, power-related facilities, water-related facilities, utilities, and other infrastructure projects.

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