Granite Construction Inc. (NYSE:GVA) Director James Hildebrand Roberts acquired 3,000 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was purchased at an average cost of $26.85 per share, with a total value of $80,550.00. Following the purchase, the director now owns 78,184 shares of the company’s stock, valued at $2,099,240.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Shares of NYSE:GVA traded up $0.27 during trading on Thursday, reaching $27.36. 711,700 shares of the company were exchanged, compared to its average volume of 397,532. The firm has a market capitalization of $1.27 billion, a PE ratio of 11.69 and a beta of 1.30. The business’s fifty day simple moving average is $39.87 and its 200-day simple moving average is $43.13. Granite Construction Inc. has a 12-month low of $26.74 and a 12-month high of $58.93. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.73 and a quick ratio of 1.61.

Granite Construction (NYSE:GVA) last issued its earnings results on Friday, August 2nd. The construction company reported ($1.83) EPS for the quarter, topping the Zacks’ consensus estimate of ($2.04) by $0.21. The business had revenue of $789.54 million for the quarter, compared to analyst estimates of $789.73 million. Granite Construction had a negative net margin of 2.09% and a negative return on equity of 1.57%. The company’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same period last year, the company posted $0.44 earnings per share. On average, sell-side analysts anticipate that Granite Construction Inc. will post -0.08 EPS for the current fiscal year.

GVA has been the subject of several analyst reports. Zacks Investment Research downgraded shares of Granite Construction from a “hold” rating to a “strong sell” rating in a research note on Friday, August 2nd. Goldman Sachs Group lowered shares of Granite Construction from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $50.00 to $31.00 in a research report on Wednesday, August 7th. ValuEngine lowered shares of Granite Construction from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. Finally, B. Riley lowered shares of Granite Construction from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $53.00 to $41.00 in a research report on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $48.25.

Several large investors have recently modified their holdings of the company. Investors Research Corp increased its holdings in Granite Construction by 4.5% during the second quarter. Investors Research Corp now owns 10,098 shares of the construction company’s stock valued at $487,000 after buying an additional 432 shares during the period. Dimensional Fund Advisors LP boosted its stake in Granite Construction by 6.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,664,608 shares of the construction company’s stock valued at $107,330,000 after acquiring an additional 156,499 shares in the last quarter. Texas Permanent School Fund boosted its stake in Granite Construction by 3.3% in the first quarter. Texas Permanent School Fund now owns 31,698 shares of the construction company’s stock valued at $1,368,000 after acquiring an additional 1,009 shares in the last quarter. Amundi Pioneer Asset Management Inc. boosted its stake in Granite Construction by 18.2% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 722,905 shares of the construction company’s stock valued at $31,194,000 after acquiring an additional 111,381 shares in the last quarter. Finally, Stevens Capital Management LP acquired a new stake in Granite Construction in the first quarter valued at approximately $1,239,000. 98.28% of the stock is currently owned by institutional investors and hedge funds.

About Granite Construction

Granite Construction Incorporated operates as an infrastructure contractor and a construction materials producer in the United States. The company operates through Transportation, Water, Specialty, and Materials segments. The Transportation segment engages in the construction and rehabilitation of roads, pavement preservation, bridges, rail lines, airports, and marine ports.

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