Natixis Advisors LLC Buys 806 Shares of Granite Construction Incorporated (NYSE:GVA)

Natixis Advisors LLC boosted its position in shares of Granite Construction Incorporated (NYSE:GVA) by 6.2% in the third quarter, Holdings Channel.com reports. The firm owned 13,712 shares of the construction company’s stock after acquiring an additional 806 shares during the period. Natixis Advisors LLC’s holdings in Granite Construction were worth $1,087,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Rothschild Investment LLC bought a new stake in Granite Construction in the 2nd quarter valued at approximately $33,000. Blue Trust Inc. raised its holdings in shares of Granite Construction by 66.4% in the third quarter. Blue Trust Inc. now owns 902 shares of the construction company’s stock valued at $72,000 after purchasing an additional 360 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of Granite Construction in the second quarter worth $107,000. GAMMA Investing LLC boosted its holdings in Granite Construction by 82.5% during the third quarter. GAMMA Investing LLC now owns 2,007 shares of the construction company’s stock worth $159,000 after purchasing an additional 907 shares during the last quarter. Finally, CIBC Asset Management Inc bought a new position in Granite Construction in the third quarter valued at $214,000.

Granite Construction Stock Performance

NYSE:GVA opened at $98.78 on Wednesday. The stock has a 50 day simple moving average of $85.94 and a 200 day simple moving average of $73.01. The stock has a market cap of $4.32 billion, a P/E ratio of 45.43 and a beta of 1.39. Granite Construction Incorporated has a 1-year low of $43.92 and a 1-year high of $100.57. The company has a current ratio of 1.56, a quick ratio of 1.46 and a debt-to-equity ratio of 0.69.

Granite Construction (NYSE:GVA) last announced its earnings results on Thursday, October 31st. The construction company reported $2.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.46). The business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.29 billion. Granite Construction had a net margin of 2.80% and a return on equity of 19.04%. The company’s revenue was up 14.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.69 EPS. Research analysts anticipate that Granite Construction Incorporated will post 4.98 earnings per share for the current year.

Granite Construction Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a dividend of $0.13 per share. The ex-dividend date was Monday, September 30th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.53%. Granite Construction’s payout ratio is 23.85%.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group increased their price objective on shares of Granite Construction from $61.00 to $70.00 and gave the stock a “sell” rating in a research note on Wednesday, October 9th.

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.