Los Angeles Capital Management LLC Purchases 10,530 Shares of Granite Construction Incorporated (NYSE:GVA)

Los Angeles Capital Management LLC increased its position in Granite Construction Incorporated (NYSE:GVA) by 100.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,035 shares of the construction company’s stock after acquiring an additional 10,530 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Granite Construction were worth $1,202,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Campbell & CO Investment Adviser LLC boosted its position in shares of Granite Construction by 926.5% in the fourth quarter. Campbell & CO Investment Adviser LLC now owns 61,239 shares of the construction company’s stock valued at $3,115,000 after acquiring an additional 55,273 shares during the period. G2 Investment Partners Management LLC bought a new stake in Granite Construction during the fourth quarter valued at approximately $2,197,000. Adage Capital Partners GP L.L.C. bought a new stake in Granite Construction during the third quarter valued at approximately $8,554,000. Norges Bank bought a new stake in Granite Construction during the fourth quarter valued at approximately $13,755,000. Finally, Wasatch Advisors LP bought a new stake in Granite Construction during the fourth quarter valued at approximately $6,462,000.

Granite Construction Trading Up 0.0 %

Shares of GVA opened at $62.47 on Monday. The firm has a market cap of $2.76 billion, a price-to-earnings ratio of 105.88 and a beta of 1.46. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.51. Granite Construction Incorporated has a fifty-two week low of $33.74 and a fifty-two week high of $65.08. The firm has a 50 day moving average price of $59.72 and a 200-day moving average price of $53.82.

Granite Construction (NYSE:GVA) last announced its quarterly earnings data on Thursday, May 2nd. The construction company reported ($0.21) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.28. The firm had revenue of $672.28 million during the quarter. Granite Construction had a net margin of 0.98% and a return on equity of 14.91%. As a group, equities research analysts forecast that Granite Construction Incorporated will post 4.76 earnings per share for the current year.

Granite Construction Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 0.83%. The ex-dividend date of this dividend is Friday, June 28th. Granite Construction’s payout ratio is 88.14%.

Insider Buying and Selling

In related news, SVP Bradley Jay Williams sold 750 shares of Granite Construction stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $61.21, for a total value of $45,907.50. Following the transaction, the senior vice president now directly owns 7,423 shares of the company’s stock, valued at $454,361.83. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.81% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on GVA. DA Davidson lifted their target price on shares of Granite Construction from $60.00 to $64.00 and gave the company a “buy” rating in a research report on Tuesday, February 27th. The Goldman Sachs Group lifted their target price on shares of Granite Construction from $44.00 to $50.00 and gave the company a “sell” rating in a research report on Tuesday, April 16th.

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.