Tudor Investment Corp ET AL Decreases Holdings in Granite Construction Incorporated $GVA

Tudor Investment Corp ET AL lowered its position in Granite Construction Incorporated (NYSE:GVA) by 3.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 134,530 shares of the construction company’s stock after selling 4,857 shares during the period. Tudor Investment Corp ET AL’s holdings in Granite Construction were worth $14,751,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of GVA. Root Financial Partners LLC purchased a new position in Granite Construction in the 3rd quarter valued at approximately $26,000. Salomon & Ludwin LLC purchased a new stake in Granite Construction during the third quarter worth $42,000. Federated Hermes Inc. boosted its position in Granite Construction by 94.6% during the third quarter. Federated Hermes Inc. now owns 436 shares of the construction company’s stock worth $48,000 after purchasing an additional 212 shares in the last quarter. Quarry LP grew its holdings in Granite Construction by 1,417.6% in the third quarter. Quarry LP now owns 516 shares of the construction company’s stock valued at $57,000 after purchasing an additional 482 shares during the last quarter. Finally, Danske Bank A S acquired a new stake in Granite Construction in the third quarter valued at $77,000.

Analysts Set New Price Targets

Several research analysts have recently issued reports on GVA shares. The Goldman Sachs Group lifted their price target on Granite Construction from $109.00 to $124.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 28th. Wall Street Zen raised shares of Granite Construction from a “hold” rating to a “buy” rating in a research note on Saturday, February 28th. Zacks Research upgraded shares of Granite Construction from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Granite Construction in a report on Monday, December 29th. Finally, DA Davidson increased their price target on shares of Granite Construction from $130.00 to $155.00 and gave the company a “buy” rating in a research report on Friday, February 13th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $139.50.

Granite Construction Stock Performance

Granite Construction stock opened at $121.55 on Friday. Granite Construction Incorporated has a fifty-two week low of $69.08 and a fifty-two week high of $137.24. The company has a market capitalization of $5.29 billion, a price-to-earnings ratio of 33.21 and a beta of 1.30. The stock has a fifty day moving average of $125.96 and a two-hundred day moving average of $115.70. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.13 and a current ratio of 1.22.

Granite Construction (NYSE:GVA) last issued its quarterly earnings data on Thursday, February 12th. The construction company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.06. The business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.15 billion. Granite Construction had a return on equity of 24.10% and a net margin of 4.36%.The business’s revenue was up 19.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.23 earnings per share. On average, analysts anticipate that Granite Construction Incorporated will post 5.49 EPS for the current fiscal year.

Granite Construction Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Tuesday, March 31st. Granite Construction’s dividend payout ratio is 14.21%.

Insider Activity

In other Granite Construction news, CEO Kyle T. Larkin sold 26,651 shares of the firm’s stock in a transaction dated Friday, March 27th. The shares were sold at an average price of $118.12, for a total transaction of $3,148,016.12. Following the sale, the chief executive officer directly owned 114,881 shares of the company’s stock, valued at $13,569,743.72. This trade represents a 18.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Staci M. Woolsey sold 1,523 shares of Granite Construction stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $119.84, for a total transaction of $182,516.32. Following the sale, the chief financial officer owned 18,954 shares of the company’s stock, valued at approximately $2,271,447.36. This trade represents a 7.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 35,488 shares of company stock worth $4,207,042 over the last ninety days. 1.00% of the stock is owned by corporate insiders.

Granite Construction Profile

Granite Construction Inc is a publicly traded heavy civil contractor and construction materials producer based in Watsonville, California. The company specializes in delivering large-scale infrastructure projects for government and private clients, focusing on the development, rehabilitation and maintenance of transportation, water resource and industrial facilities. Its turnkey solutions span the full project lifecycle, from preconstruction and design-build to construction management and facilities maintenance.

In its construction segment, Granite undertakes highway and bridge building, airport runway and taxiway construction, marine terminal and port improvements, dam and reservoir projects, transit systems and underground utilities.