Harbor Capital Advisors Inc. Purchases 1,620 Shares of Granite Construction Incorporated (NYSE:GVA)

Harbor Capital Advisors Inc. lifted its holdings in Granite Construction Incorporated (NYSE:GVA) by 8.8% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,946 shares of the construction company’s stock after buying an additional 1,620 shares during the period. Harbor Capital Advisors Inc.’s holdings in Granite Construction were worth $1,749,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of GVA. GAMMA Investing LLC raised its stake in shares of Granite Construction by 8.5% during the 4th quarter. GAMMA Investing LLC now owns 2,178 shares of the construction company’s stock worth $191,000 after purchasing an additional 171 shares during the period. Arizona State Retirement System raised its position in Granite Construction by 1.9% in the second quarter. Arizona State Retirement System now owns 12,309 shares of the construction company’s stock worth $763,000 after acquiring an additional 235 shares during the period. Blue Trust Inc. boosted its stake in 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 acquiring an additional 360 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its position in shares of Granite Construction by 12.6% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 5,711 shares of the construction company’s stock valued at $354,000 after acquiring an additional 639 shares during the period. Finally, Castleark Management LLC increased its stake in shares of Granite Construction by 0.9% during the 3rd quarter. Castleark Management LLC now owns 72,520 shares of the construction company’s stock worth $5,749,000 after purchasing an additional 670 shares during the last quarter.

Granite Construction Trading Down 1.4 %

Shares of Granite Construction stock opened at $87.19 on Monday. The stock has a market capitalization of $3.81 billion, a P/E ratio of 40.00 and a beta of 1.43. Granite Construction Incorporated has a 52-week low of $43.92 and a 52-week high of $105.20. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.46 and a current ratio of 1.56. The stock’s 50-day simple moving average is $93.98 and its 200 day simple moving average is $80.31.

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

Granite Construction Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.13 per share. The ex-dividend date is Tuesday, December 31st. This represents a $0.52 annualized dividend and a yield of 0.60%. Granite Construction’s dividend payout ratio is currently 23.85%.

Analyst Upgrades and Downgrades

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

Granite Construction Company 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.