Teton Advisors Inc. Invests $254,000 in Granite Construction Incorporated (NYSE:GVA)

Teton Advisors Inc. acquired a new position in shares of Granite Construction Incorporated (NYSE:GVA) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 5,000 shares of the construction company’s stock, valued at approximately $254,000.

A number of other hedge funds also recently made changes to their positions in GVA. Norges Bank bought a new stake in Granite Construction in the fourth quarter worth approximately $13,755,000. Adage Capital Partners GP L.L.C. bought a new stake in Granite Construction in the third quarter worth approximately $8,554,000. First Trust Advisors LP increased its holdings in Granite Construction by 15.4% in the fourth quarter. First Trust Advisors LP now owns 533,324 shares of the construction company’s stock worth $27,125,000 after purchasing an additional 71,099 shares in the last quarter. Campbell & CO Investment Adviser LLC increased its holdings in Granite Construction by 926.5% in the fourth quarter. Campbell & CO Investment Adviser LLC now owns 61,239 shares of the construction company’s stock worth $3,115,000 after purchasing an additional 55,273 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in Granite Construction by 86.2% in the fourth quarter. BNP Paribas Financial Markets now owns 118,293 shares of the construction company’s stock worth $6,016,000 after purchasing an additional 54,778 shares in the last quarter.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on GVA shares. The Goldman Sachs Group boosted their price objective on Granite Construction from $44.00 to $50.00 and gave the company a “sell” rating in a report on Tuesday, April 16th. DA Davidson boosted their price objective on Granite Construction from $60.00 to $64.00 and gave the company a “buy” rating in a report on Tuesday, February 27th.

Granite Construction Stock Up 4.1 %

Shares of NYSE GVA traded up $2.27 during midday trading on Thursday, hitting $57.26. 806,414 shares of the stock traded hands, compared to its average volume of 367,294. The company has a market cap of $2.53 billion, a PE ratio of 75.58 and a beta of 1.45. Granite Construction Incorporated has a one year low of $33.74 and a one year high of $57.93. The business has a 50 day moving average price of $54.32 and a two-hundred day moving average price of $48.84. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.49 and a current ratio of 1.60.

Granite Construction (NYSE:GVA) last announced its earnings results on Thursday, February 22nd. The construction company reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.84 by ($0.02). The company had revenue of $933.70 million for the quarter. Granite Construction had a net margin of 1.24% and a return on equity of 14.15%. During the same quarter last year, the firm posted $0.56 earnings per share. On average, equities analysts predict that Granite Construction Incorporated will post 4.29 EPS for the current year.

Granite Construction Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were given a dividend of $0.13 per share. The ex-dividend date was Wednesday, March 27th. This represents a $0.52 annualized dividend and a dividend yield of 0.91%. Granite Construction’s payout ratio is 68.42%.

Insider Activity at Granite Construction

In other Granite Construction news, Director Louis E. Caldera sold 1,263 shares of the business’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $50.00, for a total value of $63,150.00. Following the transaction, the director now owns 8,528 shares of the company’s stock, valued at $426,400. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.54% of the stock is owned by insiders.

About Granite Construction

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.