Deutsche Bank AG Invests $7.52 Million in Granite Construction Incorporated $GVA

Deutsche Bank AG bought a new position in shares of Granite Construction Incorporated (NYSE:GVA - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 47,547 shares of the construction company's stock, valued at approximately $7,516,000. Deutsche Bank AG owned about 0.11% of Granite Construction as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of GVA. Beverly Hills Private Wealth LLC bought a new stake in Granite Construction during the second quarter valued at $563,000. OneDigital Investment Advisors LLC bought a new position in shares of Granite Construction in the 2nd quarter worth about $527,000. Simplicity Wealth LLC acquired a new position in shares of Granite Construction in the 2nd quarter valued at about $777,000. Global Retirement Partners LLC acquired a new position in shares of Granite Construction in the 2nd quarter valued at about $180,000. Finally, GSA Capital Partners LLP bought a new stake in shares of Granite Construction during the 2nd quarter valued at about $1,407,000.

Analysts Set New Price Targets

Several research firms recently commented on GVA. Wall Street Zen cut Granite Construction from a "buy" rating to a "hold" rating in a research note on Saturday, July 18th. Weiss Ratings raised Granite Construction from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Tuesday, August 18th. Stephens began coverage on Granite Construction in a report on Friday, June 26th. They set an "overweight" rating and a $180.00 price target on the stock. Oppenheimer raised their price objective on shares of Granite Construction from $170.00 to $180.00 and gave the stock an "outperform" rating in a research report on Friday, July 31st. Finally, The Goldman Sachs Group lowered their price objective on shares of Granite Construction from $139.00 to $119.00 and set a "sell" rating for the company in a research note on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $158.50.

Granite Construction Stock Performance

Shares of GVA opened at $124.08 on Monday. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.01 and a quick ratio of 0.94. The stock has a 50-day moving average of $132.95 and a 200-day moving average of $130.93. The company has a market cap of $5.43 billion, a PE ratio of -28.79 and a beta of 1.33. Granite Construction Incorporated has a one year low of $97.26 and a one year high of $162.08.

Granite Construction (NYSE:GVA - Get Free Report) last issued its earnings results on Thursday, July 30th. The construction company reported $2.16 earnings per share for the quarter, missing analysts' consensus estimates of $2.25 by ($0.09). The firm had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.41 billion. Granite Construction had a positive return on equity of 27.83% and a negative net margin of 3.32%.Granite Construction's revenue for the quarter was up 28.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.42 earnings per share. On average, equities research analysts predict that Granite Construction Incorporated will post 6.36 EPS for the current fiscal year.

Granite Construction Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were issued a $0.13 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $0.52 annualized dividend and a dividend yield of 0.4%. Granite Construction's dividend payout ratio is currently -12.06%.

Insiders Place Their Bets

In other Granite Construction news, SVP Michael G. Tatusko sold 7,500 shares of the business's stock in a transaction on Monday, June 8th. The stock was sold at an average price of $141.00, for a total value of $1,057,500.00. Following the transaction, the senior vice president owned 29,787 shares of the company's stock, valued at approximately $4,199,967. The trade was a 20.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John Timothy Romer acquired 375 shares of Granite Construction stock in a transaction on Monday, June 15th. The stock was acquired at an average price of $143.65 per share, with a total value of $53,868.75. Following the purchase, the director directly owned 2,801 shares in the company, valued at approximately $402,363.65. This trade represents a 15.46% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders purchased 1,150 shares of company stock valued at $156,636. Insiders own 0.88% of the company's stock.

Granite Construction Company 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.

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