Granite Construction Inc. (GVA) Stake Increased by Ameriprise Financial Inc.

Ameriprise Financial Inc. boosted its holdings in shares of Granite Construction Inc. (NYSE:GVA) by 1.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,695,658 shares of the construction company’s stock after purchasing an additional 17,486 shares during the period. Ameriprise Financial Inc. owned about 4.26% of Granite Construction worth $98,260,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. JPMorgan Chase & Co. boosted its position in Granite Construction by 672.8% during the 1st quarter. JPMorgan Chase & Co. now owns 6,182 shares of the construction company’s stock valued at $310,000 after acquiring an additional 5,382 shares in the last quarter. Teachers Advisors LLC boosted its position in shares of Granite Construction by 2.4% in the 1st quarter. Teachers Advisors LLC now owns 69,334 shares of the construction company’s stock worth $3,480,000 after purchasing an additional 1,655 shares in the last quarter. Capstone Asset Management Co. boosted its position in shares of Granite Construction by 7.0% in the 2nd quarter. Capstone Asset Management Co. now owns 6,132 shares of the construction company’s stock worth $296,000 after purchasing an additional 400 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its position in shares of Granite Construction by 4.2% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 14,418 shares of the construction company’s stock worth $696,000 after purchasing an additional 579 shares in the last quarter. Finally, LS Investment Advisors LLC raised its holdings in Granite Construction by 14.1% in the 2nd quarter. LS Investment Advisors LLC now owns 4,536 shares of the construction company’s stock worth $219,000 after acquiring an additional 559 shares during the last quarter. Institutional investors own 98.59% of the company’s stock.

In other Granite Construction news, Director William Howard Powell sold 3,103 shares of the business’s stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $63.85, for a total value of $198,126.55. Following the transaction, the director now directly owns 46,771 shares in the company, valued at approximately $2,986,328.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.30% of the company’s stock.

Several equities research analysts have recently commented on GVA shares. Zacks Investment Research upgraded Granite Construction from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a research note on Friday, October 13th. Seaport Global Securities downgraded shares of Granite Construction from a “buy” rating to a “neutral” rating and set a $64.00 price target for the company. in a report on Wednesday, October 11th. FBR & Co reissued a “buy” rating and issued a $68.00 price objective on shares of Granite Construction in a research report on Tuesday, October 3rd. Canaccord Genuity reissued a “buy” rating and issued a $70.00 price objective on shares of Granite Construction in a research report on Saturday, August 26th. Finally, Cowen reissued a “buy” rating and issued a $70.00 price objective on shares of Granite Construction in a research report on Tuesday, September 19th. One research analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company’s stock. Granite Construction presently has a consensus rating of “Buy” and a consensus target price of $67.00.

Shares of Granite Construction Inc. (GVA) opened at $64.60 on Wednesday. The company has a market cap of $2,617.40, a price-to-earnings ratio of 50.92, a PEG ratio of 5.77 and a beta of 1.24. The company has a current ratio of 1.79, a quick ratio of 1.71 and a debt-to-equity ratio of 0.24. Granite Construction Inc. has a one year low of $45.14 and a one year high of $67.39.

Granite Construction (NYSE:GVA) last posted its quarterly earnings results on Friday, October 27th. The construction company reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.04. The firm had revenue of $957.10 million for the quarter, compared to analyst estimates of $905.14 million. Granite Construction had a net margin of 1.84% and a return on equity of 5.71%. Granite Construction’s quarterly revenue was up 19.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.92 earnings per share. research analysts predict that Granite Construction Inc. will post 1.63 EPS for the current fiscal year.

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Granite Construction Company Profile

Granite Construction Incorporated is a heavy civil contractor and construction materials producer in the United States. The Company operates through three segments: Construction, Large Project Construction and Construction Materials. The Company operates across the nation, serving both public and private sector clients.

Institutional Ownership by Quarter for Granite Construction (NYSE:GVA)

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