Toth Financial Advisory Corp Has $527,000 Position in Granite Construction Incorporated (NYSE:GVA)

Toth Financial Advisory Corp lessened its holdings in shares of Granite Construction Incorporated (NYSE:GVA) by 49.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 6,005 shares of the construction company’s stock after selling 5,970 shares during the period. Toth Financial Advisory Corp’s holdings in Granite Construction were worth $527,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. GAMMA Investing LLC increased its position in Granite Construction by 8.5% in the 4th quarter. GAMMA Investing LLC now owns 2,178 shares of the construction company’s stock worth $191,000 after buying an additional 171 shares during the period. Atomi Financial Group Inc. grew its stake in shares of Granite Construction by 6.7% in the fourth quarter. Atomi Financial Group Inc. now owns 4,769 shares of the construction company’s stock worth $418,000 after acquiring an additional 301 shares during the last quarter. Blue Trust Inc. increased its position in Granite Construction by 66.4% during the third quarter. Blue Trust Inc. now owns 902 shares of the construction company’s stock worth $72,000 after acquiring an additional 360 shares during the period. Mercer Global Advisors Inc. ADV raised its stake in Granite Construction by 12.6% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 5,711 shares of the construction company’s stock valued at $354,000 after purchasing an additional 639 shares during the last quarter. Finally, Castleark Management LLC boosted its holdings in Granite Construction by 0.9% in the 3rd quarter. Castleark Management LLC now owns 72,520 shares of the construction company’s stock valued at $5,749,000 after purchasing an additional 670 shares during the period.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group boosted their price objective on shares of Granite Construction from $61.00 to $70.00 and gave the stock a “sell” rating in a report on Wednesday, October 9th.

Granite Construction Stock Performance

GVA opened at $91.59 on Friday. The stock has a market cap of $4.00 billion, a PE ratio of 42.01 and a beta of 1.43. Granite Construction Incorporated has a 1 year low of $43.92 and a 1 year high of $105.20. The stock’s 50 day simple moving average is $93.34 and its 200-day simple moving average is $82.47. The company has a current ratio of 1.56, a quick ratio of 1.46 and a debt-to-equity ratio of 0.69.

Granite Construction (NYSE:GVA) last announced its quarterly earnings data on Thursday, October 31st. The construction company reported $2.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.46). Granite Construction had a net margin of 2.80% and a return on equity of 19.04%. The business had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.29 billion. During the same quarter in the prior year, the company posted $1.69 EPS. The company’s quarterly revenue was up 14.2% compared to the same quarter last year. Sell-side analysts forecast that Granite Construction Incorporated will post 4.98 EPS for the current year.

Granite Construction Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date of this dividend was Tuesday, December 31st. Granite Construction’s dividend payout ratio is 23.85%.

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.