Zacks Investment Research cut shares of Grana y Montero SAA (NYSE:GRAM) from a hold rating to a sell rating in a report released on Thursday.
According to Zacks, “Grana y Montero SAA operates as a holding company. The company through its subsidiaries operates engineering, construction, oil drilling, data processing services, telecommunications services, distribution of natural gas, and consulting. Grana y Montero SAA is based in Peru. “
Separately, JPMorgan Chase & Co. upgraded Grana y Montero SAA from an underweight rating to a neutral rating in a research note on Thursday, January 17th.
Several large investors have recently added to or reduced their stakes in the stock. Eaton Vance Management lifted its stake in shares of Grana y Montero SAA by 17.9% in the fourth quarter. Eaton Vance Management now owns 119,700 shares of the construction company’s stock worth $372,000 after acquiring an additional 18,200 shares in the last quarter. CIBC World Markets Inc. acquired a new position in shares of Grana y Montero SAA in the third quarter worth about $110,000. Dimensional Fund Advisors LP acquired a new position in shares of Grana y Montero SAA in the third quarter worth about $1,286,000. Newfoundland Capital Management acquired a new position in shares of Grana y Montero SAA in the fourth quarter worth about $3,534,000. Finally, Standard Life Aberdeen plc acquired a new position in shares of Grana y Montero SAA in the fourth quarter worth about $24,483,000. Institutional investors and hedge funds own 11.28% of the company’s stock.
About Grana y Montero SAA
Graña y Montero SAA., together with its subsidiaries, engages in engineering and construction, infrastructure, and real estate businesses in Peru, Chile, and Colombia. The company operates through four segments: Engineering and Construction, Infrastructure, Real Estate, and Technical Services. The Engineering and Construction segment provides traditional engineering services, such as structural, civil, and design engineering; and services ranging from architectural planning to advanced specialties comprising process design, simulation, and environmental services.
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