Quest Partners LLC Has $1.83 Million Stock Position in Granite Construction Incorporated (NYSE:GVA)

Quest Partners LLC raised its holdings in shares of Granite Construction Incorporated (NYSE:GVA) by 2,303,900.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 23,040 shares of the construction company’s stock after purchasing an additional 23,039 shares during the period. Quest Partners LLC’s holdings in Granite Construction were worth $1,827,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Millennium Management LLC lifted its holdings in Granite Construction by 99.3% in the second quarter. Millennium Management LLC now owns 2,569,319 shares of the construction company’s stock valued at $159,221,000 after buying an additional 1,280,288 shares during the period. Mizuho Markets Americas LLC raised its position in shares of Granite Construction by 2.5% during the 3rd quarter. Mizuho Markets Americas LLC now owns 596,158 shares of the construction company’s stock valued at $47,263,000 after acquiring an additional 14,716 shares during the last quarter. Hood River Capital Management LLC bought a new position in shares of Granite Construction in the 2nd quarter worth $29,143,000. Pinnacle Associates Ltd. grew its stake in shares of Granite Construction by 3.2% during the third 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 during the period. Finally, Raymond James & Associates lifted its stake in Granite Construction by 16.0% in the second quarter. Raymond James & Associates now owns 128,511 shares of the construction company’s stock valued at $7,964,000 after buying an additional 17,738 shares during the period.

Granite Construction Trading Up 0.9 %

GVA opened at $96.43 on Tuesday. The firm’s fifty day moving average is $83.08 and its two-hundred day moving average is $71.40. The firm has a market cap of $4.21 billion, a PE ratio of 44.23 and a beta of 1.39. Granite Construction Incorporated has a twelve month low of $43.92 and a twelve month high of $99.32. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.46 and a current ratio of 1.56.

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

Granite Construction Dividend Announcement

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

Analyst Ratings Changes

Separately, The Goldman Sachs Group upped their price target 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.