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

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

Other hedge funds and other institutional investors have also made changes to their positions in the company. Federated Hermes Inc. purchased a new stake in shares of Granite Construction in the fourth quarter worth about $26,000. Quarry LP boosted its holdings in Granite Construction by 68.4% in the 4th quarter. Quarry LP now owns 325 shares of the construction company's stock worth $29,000 after acquiring an additional 132 shares during the period. Aster Capital Management DIFC Ltd boosted its holdings in Granite Construction by 112.8% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 900 shares of the construction company's stock worth $79,000 after acquiring an additional 477 shares during the period. Steward Partners Investment Advisory LLC acquired a new stake in Granite Construction in the fourth quarter valued at approximately $89,000. Finally, Smartleaf Asset Management LLC raised its stake 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 valued at $119,000 after purchasing an additional 887 shares during the period.

Granite Construction Stock Up 1.7%

NYSE:GVA traded up $1.50 on Friday, reaching $87.66. The stock had a trading volume of 88,048 shares, compared to its average volume of 658,632. The company has a 50-day moving average of $79.13 and a 200 day moving average of $85.95. The company has a current ratio of 1.66, a quick ratio of 1.56 and a debt-to-equity ratio of 0.68. The stock has a market cap of $3.83 billion, a P/E ratio of 35.49 and a beta of 1.33. 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 issued its quarterly earnings results 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 return on equity of 20.67% and a net margin of 3.15%. The firm had revenue of $699.55 million during the quarter, compared to the consensus estimate of $706.15 million. The business's quarterly revenue was up 4.0% compared to the same quarter last year. On average, research analysts predict that Granite Construction Incorporated will post 5.49 earnings per share for the current year.

Granite Construction Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 0.59%. The ex-dividend date of this dividend was Monday, March 31st. Granite Construction's dividend payout ratio (DPR) is currently 21.67%.

Analysts Set New Price Targets

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

Insider Transactions at Granite Construction

In other Granite Construction news, CEO Kyle T. Larkin sold 2,790 shares of the stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $80.02, for a total transaction of $223,255.80. Following the transaction, the chief executive officer now directly owns 136,384 shares in the company, valued at $10,913,447.68. This represents a 2.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Brian R. Dowd sold 2,025 shares of the firm's stock in a transaction on Friday, February 28th. The stock was sold at an average price of $81.55, for a total transaction of $165,138.75. Following the transaction, the senior vice president now directly 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. Over the last quarter, insiders sold 8,432 shares of company stock valued at $679,129. 0.81% of the stock is currently owned by corporate insiders.

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.