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

Entropy Technologies LP bought a new stake in Granite Construction Incorporated (NYSE:GVA) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 5,148 shares of the construction company’s stock, valued at approximately $408,000.

Several other large investors also recently bought and sold shares of GVA. Millennium Management LLC grew its stake in Granite Construction by 99.3% in the 2nd quarter. Millennium Management LLC now owns 2,569,319 shares of the construction company’s stock valued at $159,221,000 after acquiring an additional 1,280,288 shares during the last quarter. Hood River Capital Management LLC acquired a new stake in shares of Granite Construction in the second quarter valued at approximately $29,143,000. Pinnacle Associates Ltd. increased its stake in shares of Granite Construction by 3.2% during the 3rd quarter. Pinnacle Associates Ltd. now owns 179,355 shares of the construction company’s stock worth $14,219,000 after purchasing an additional 5,528 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of Granite Construction by 51.0% during the 1st quarter. Russell Investments Group Ltd. now owns 152,730 shares of the construction company’s stock worth $8,725,000 after purchasing an additional 51,597 shares during the last quarter. Finally, Raymond James & Associates raised its position in shares of Granite Construction by 16.0% during the 2nd quarter. Raymond James & Associates now owns 128,511 shares of the construction company’s stock worth $7,964,000 after purchasing an additional 17,738 shares during the last quarter.

Granite Construction Price Performance

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

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

Granite Construction Announces Dividend

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

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group raised their price target on Granite Construction from $61.00 to $70.00 and gave the stock a “sell” rating in a research report 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.