Raiffeisen Bank International AG Makes New $293,000 Investment in Granite Construction Incorporated (NYSE:GVA)

Raiffeisen Bank International AG purchased a new stake in Granite Construction Incorporated (NYSE:GVA - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 3,310 shares of the construction company's stock, valued at approximately $293,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Federated Hermes Inc. acquired a new stake in Granite Construction in the fourth quarter valued at approximately $26,000. Quarry LP raised its position in Granite Construction by 68.4% in the fourth quarter. Quarry LP now owns 325 shares of the construction company's stock valued at $29,000 after purchasing an additional 132 shares during the last quarter. Aster Capital Management DIFC Ltd boosted its stake in shares of Granite Construction by 112.8% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 900 shares of the construction company's stock valued at $79,000 after purchasing an additional 477 shares in the last quarter. Steward Partners Investment Advisory LLC acquired a new stake in shares of Granite Construction during the fourth quarter valued at about $89,000. Finally, Smartleaf Asset Management LLC grew its holdings in shares of Granite Construction by 193.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,345 shares of the construction company's stock worth $119,000 after purchasing an additional 887 shares during the last quarter.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group lifted their target price on shares of Granite Construction from $69.00 to $76.00 and gave the stock a "sell" rating in a research report on Monday, May 5th.

Insider Transactions at Granite Construction

In related news, COO James A. Radich sold 2,500 shares of the stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $87.14, for a total transaction of $217,850.00. Following the transaction, the chief operating officer now directly owns 28,256 shares of the company's stock, valued at $2,462,227.84. This represents a 8.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Brian R. Dowd sold 2,025 shares of the firm's stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $81.55, for a total value of $165,138.75. Following the completion of the sale, the senior vice president now owns 13,880 shares of the company's stock, valued at approximately $1,131,914. This represents a 12.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,932 shares of company stock valued at $896,979. Corporate insiders own 0.81% of the company's stock.

Granite Construction Trading Down 0.8%

Shares of NYSE GVA traded down $0.67 during trading on Wednesday, reaching $86.33. The company had a trading volume of 510,848 shares, compared to its average volume of 653,339. The stock has a market cap of $3.78 billion, a P/E ratio of 34.95 and a beta of 1.33. The company's fifty day moving average price is $78.63 and its 200-day moving average price is $85.96. The company has a quick ratio of 1.56, a current ratio of 1.66 and a debt-to-equity ratio of 0.68. Granite Construction Incorporated has a 12 month low of $58.23 and a 12 month high of $105.20.

Granite Construction (NYSE:GVA - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The construction company reported $0.01 EPS for the quarter, beating analysts' consensus estimates of ($0.43) by $0.44. Granite Construction had a net margin of 3.15% and a return on equity of 20.67%. The company had revenue of $699.55 million for the quarter, compared to analyst estimates of $706.15 million. Granite Construction's quarterly revenue was up 4.0% on a year-over-year basis. As a group, research analysts expect that Granite Construction Incorporated will post 5.49 earnings per share for the current year.

Granite Construction Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a dividend of $0.13 per share. The ex-dividend date was Monday, March 31st. This represents a $0.52 dividend on an annualized basis and a yield of 0.60%. Granite Construction's payout ratio is currently 21.67%.

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.