Mizuho Markets Americas LLC Has $47.26 Million Stock Holdings in Granite Construction Incorporated (NYSE:GVA)

Mizuho Markets Americas LLC lifted its stake in shares of Granite Construction Incorporated (NYSE:GVA) by 2.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 596,158 shares of the construction company’s stock after purchasing an additional 14,716 shares during the quarter. Granite Construction accounts for 1.0% of Mizuho Markets Americas LLC’s holdings, making the stock its 23rd biggest holding. Mizuho Markets Americas LLC owned approximately 1.36% of Granite Construction worth $47,263,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of GVA. Millennium Management LLC grew its holdings in shares of Granite Construction by 99.3% during the 2nd quarter. Millennium Management LLC now owns 2,569,319 shares of the construction company’s stock worth $159,221,000 after purchasing an additional 1,280,288 shares in the last quarter. Hood River Capital Management LLC acquired a new stake in Granite Construction in the second quarter valued at about $29,143,000. Highbridge Capital Management LLC acquired a new stake in Granite Construction in the second quarter valued at about $4,513,000. Aristeia Capital L.L.C. acquired a new stake in Granite Construction in the second quarter valued at about $4,513,000. Finally, Comerica Bank boosted its stake in Granite Construction by 177.6% in the first quarter. Comerica Bank now owns 113,514 shares of the construction company’s stock valued at $6,485,000 after buying an additional 72,621 shares in the last quarter.

Granite Construction Price Performance

Granite Construction stock opened at $95.61 on Friday. The company has a current ratio of 1.56, a quick ratio of 1.46 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $4.18 billion, a PE ratio of 43.86 and a beta of 1.39. Granite Construction Incorporated has a 12 month low of $43.92 and a 12 month high of $99.32. The stock has a 50-day moving average price of $83.08 and a two-hundred day moving average price of $71.17.

Granite Construction (NYSE:GVA) last posted its earnings results on Thursday, October 31st. The construction company reported $2.05 EPS for the quarter, missing the consensus estimate of $2.51 by ($0.46). The firm had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.29 billion. Granite Construction had a net margin of 2.80% and a return on equity of 19.04%. Granite Construction’s revenue for the quarter was up 14.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.69 earnings per share. Analysts expect that Granite Construction Incorporated will post 5.55 EPS for the current year.

Granite Construction Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.54%. Granite Construction’s dividend payout ratio (DPR) is 23.85%.

Analyst Ratings Changes

Separately, The Goldman Sachs Group raised their price objective 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.