5,148 Shares in Granite Construction Incorporated (NYSE:GVA) Acquired by Entropy Technologies LP

Entropy Technologies LP purchased a new stake in Granite Construction Incorporated (NYSE:GVA) during the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 5,148 shares of the construction company’s stock, valued at approximately $408,000.

Several other institutional investors also recently made changes to their positions in the stock. EFG Asset Management North America Corp. raised its position in shares of Granite Construction by 0.5% in the 2nd quarter. EFG Asset Management North America Corp. now owns 38,191 shares of the construction company’s stock worth $2,365,000 after buying an additional 180 shares during the period. Arizona State Retirement System lifted its stake in shares of Granite Construction by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 12,309 shares of the construction company’s stock valued at $763,000 after purchasing an additional 235 shares in the last quarter. Alpha Cubed Investments LLC grew its holdings in shares of Granite Construction by 7.2% during the 2nd quarter. Alpha Cubed Investments LLC now owns 4,553 shares of the construction company’s stock worth $282,000 after purchasing an additional 305 shares during the period. Blue Trust Inc. increased its position in Granite Construction by 66.4% during the 3rd quarter. Blue Trust Inc. now owns 902 shares of the construction company’s stock worth $72,000 after purchasing an additional 360 shares in the last quarter. Finally, Louisiana State Employees Retirement System raised its holdings in Granite Construction by 1.8% in the second quarter. Louisiana State Employees Retirement System now owns 22,200 shares of the construction company’s stock valued at $1,376,000 after buying an additional 400 shares during the period.

Granite Construction Trading Down 0.1 %

Shares of GVA opened at $95.61 on Friday. Granite Construction Incorporated has a 12 month low of $43.92 and a 12 month high of $99.32. The stock’s 50-day moving average is $83.08 and its two-hundred day moving average is $71.17. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.56 and a quick ratio of 1.46. The stock has a market cap of $4.18 billion, a PE ratio of 43.86 and a beta of 1.39.

Granite Construction (NYSE:GVA) last released its quarterly earnings results on Thursday, October 31st. The construction company reported $2.05 EPS for the quarter, missing the consensus estimate of $2.51 by ($0.46). Granite Construction had a return on equity of 19.04% and a net margin of 2.80%. The company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same period last year, the firm posted $1.69 earnings per share. The business’s revenue was up 14.2% on a year-over-year basis. Equities analysts forecast that Granite Construction Incorporated will post 5.55 earnings per share for the current fiscal year.

Granite Construction Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date was Monday, September 30th. Granite Construction’s payout ratio is 23.85%.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group boosted 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.