Toth Financial Advisory Corp Increases Stake in Granite Construction Incorporated (NYSE:GVA)

Toth Financial Advisory Corp boosted its holdings in shares of Granite Construction Incorporated (NYSE:GVA) by 479.0% during the first quarter, Holdings Channel reports. The firm owned 14,475 shares of the construction company’s stock after acquiring an additional 11,975 shares during the quarter. Toth Financial Advisory Corp’s holdings in Granite Construction were worth $827,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in GVA. GAMMA Investing LLC bought a new stake in Granite Construction in the fourth quarter valued at $43,000. Riverview Trust Co purchased a new position in Granite Construction during the first quarter valued at $107,000. Westend Capital Management LLC purchased a new position in Granite Construction during the first quarter valued at $217,000. Connable Office Inc. purchased a new position in Granite Construction during the fourth quarter valued at $221,000. Finally, Caxton Associates LP purchased a new position in Granite Construction during the third quarter valued at $241,000.

Insiders Place Their Bets

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

Granite Construction Price Performance

GVA opened at $61.97 on Friday. The stock has a 50-day moving average price of $60.52 and a 200-day moving average price of $54.27. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.51 and a quick ratio of 1.39. The firm has a market cap of $2.74 billion, a PE ratio of 105.03 and a beta of 1.46. Granite Construction Incorporated has a 1 year low of $33.74 and a 1 year high of $65.08.

Granite Construction (NYSE:GVA) last posted its quarterly earnings results on Thursday, May 2nd. The construction company reported ($0.21) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.49) by $0.28. The firm had revenue of $672.28 million during the quarter. Granite Construction had a return on equity of 14.91% and a net margin of 0.98%. Sell-side analysts predict that Granite Construction Incorporated will post 4.76 earnings per share for the current fiscal year.

Granite Construction Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date of this dividend is Friday, June 28th. Granite Construction’s dividend payout ratio (DPR) is 88.14%.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group raised their price objective on 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.