John G Ullman & Associates Inc. lifted its holdings in Granite Construction Inc. (NYSE:GVA) by 26.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 518,725 shares of the construction company’s stock after acquiring an additional 110,091 shares during the period. Granite Construction makes up 4.1% of John G Ullman & Associates Inc.’s portfolio, making the stock its 3rd biggest position. John G Ullman & Associates Inc. owned about 1.11% of Granite Construction worth $22,382,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the company. Janney Montgomery Scott LLC grew its holdings in Granite Construction by 5.9% during the 4th quarter. Janney Montgomery Scott LLC now owns 9,312 shares of the construction company’s stock valued at $375,000 after purchasing an additional 516 shares in the last quarter. Tompkins Financial Corp grew its holdings in Granite Construction by 47.8% during the 1st quarter. Tompkins Financial Corp now owns 1,700 shares of the construction company’s stock valued at $73,000 after purchasing an additional 550 shares in the last quarter. Rowland & Co. Investment Counsel ADV grew its holdings in Granite Construction by 13.6% during the 4th quarter. Rowland & Co. Investment Counsel ADV now owns 5,020 shares of the construction company’s stock valued at $202,000 after purchasing an additional 600 shares in the last quarter. Teachers Advisors LLC grew its holdings in Granite Construction by 0.7% during the 3rd quarter. Teachers Advisors LLC now owns 86,968 shares of the construction company’s stock valued at $3,974,000 after purchasing an additional 605 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in Granite Construction by 9.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,482 shares of the construction company’s stock valued at $302,000 after purchasing an additional 669 shares in the last quarter. 99.02% of the stock is owned by institutional investors.
A number of research firms recently weighed in on GVA. B. Riley reaffirmed a “buy” rating and set a $53.00 price target (down from $66.00) on shares of Granite Construction in a report on Monday, April 29th. ValuEngine raised shares of Granite Construction from a “sell” rating to a “hold” rating in a report on Friday, February 22nd. Finally, MKM Partners raised their price target on shares of Granite Construction from $60.00 to $61.00 and gave the company a “buy” rating in a report on Thursday, February 21st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. Granite Construction currently has an average rating of “Hold” and an average target price of $58.50.
GVA stock traded up $0.22 during mid-day trading on Friday, hitting $40.25. 180,700 shares of the company were exchanged, compared to its average volume of 328,683. The firm has a market cap of $1.87 billion, a P/E ratio of 17.20, a P/E/G ratio of 2.10 and a beta of 1.20. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.12 and a quick ratio of 1.97. Granite Construction Inc. has a twelve month low of $38.55 and a twelve month high of $59.28.
Granite Construction (NYSE:GVA) last announced its quarterly earnings data on Friday, April 26th. The construction company reported ($0.57) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.22) by ($0.35). The company had revenue of $619.80 million for the quarter, compared to analyst estimates of $644.46 million. Granite Construction had a return on equity of 6.03% and a net margin of 0.57%. Granite Construction’s revenue was up 10.0% on a year-over-year basis. During the same period in the prior year, the business earned ($0.13) earnings per share. On average, sell-side analysts expect that Granite Construction Inc. will post 2.83 EPS for the current year.
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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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