Great West Life Assurance Co. Can grew its position in Granite Construction Inc. (NYSE:GVA) by 32.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 30,190 shares of the construction company’s stock after acquiring an additional 7,441 shares during the quarter. Great West Life Assurance Co. Can owned 0.06% of Granite Construction worth $1,128,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of GVA. Skyline Asset Management LP bought a new position in shares of Granite Construction during the 4th quarter worth approximately $12,326,000. Franklin Resources Inc. lifted its position in shares of Granite Construction by 41.9% during the 3rd quarter. Franklin Resources Inc. now owns 732,630 shares of the construction company’s stock worth $33,481,000 after buying an additional 216,214 shares during the period. Macquarie Group Ltd. lifted its position in shares of Granite Construction by 21.6% during the 3rd quarter. Macquarie Group Ltd. now owns 1,043,855 shares of the construction company’s stock worth $47,704,000 after buying an additional 185,441 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Granite Construction by 19.9% during the 4th quarter. Bank of New York Mellon Corp now owns 1,039,514 shares of the construction company’s stock worth $41,872,000 after buying an additional 172,602 shares during the period. Finally, Vanguard Group Inc lifted its position in shares of Granite Construction by 4.4% during the 3rd quarter. Vanguard Group Inc now owns 4,032,420 shares of the construction company’s stock worth $184,282,000 after buying an additional 171,712 shares during the period. Institutional investors and hedge funds own 96.76% of the company’s stock.
Shares of NYSE GVA traded up $0.66 during midday trading on Friday, hitting $46.40. The stock had a trading volume of 308,139 shares, compared to its average volume of 300,915. The stock has a market capitalization of $2.17 billion, a P/E ratio of 19.83, a price-to-earnings-growth ratio of 1.87 and a beta of 1.20. Granite Construction Inc. has a fifty-two week low of $38.55 and a fifty-two week high of $60.11. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.96 and a current ratio of 2.09.
The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were paid a dividend of $0.13 per share. The ex-dividend date was Thursday, March 28th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.12%. Granite Construction’s dividend payout ratio (DPR) is presently 22.22%.
Several equities analysts recently commented on GVA shares. ValuEngine downgraded Granite Construction from a “hold” rating to a “sell” rating in a research report on Wednesday, January 2nd. MKM Partners set a $61.00 price objective on Granite Construction and gave the company a “buy” rating in a research report on Friday, March 22nd. Finally, Zacks Investment Research downgraded Granite Construction from a “hold” rating to a “sell” rating in a research report on Wednesday, January 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $59.60.
ILLEGAL ACTIVITY NOTICE: This report was reported by Baseball Daily News and is the property of of Baseball Daily News. If you are reading this report on another website, it was illegally stolen and republished in violation of U.S. & international copyright law. The correct version of this report can be read at https://www.baseballdailydigest.com/news/2019/04/21/great-west-life-assurance-co-can-has-1-13-million-position-in-granite-construction-inc-gva.html.
Granite Construction Company Profile
Granite Construction Incorporated operates as an infrastructure contractor and a construction materials producer in the United States. The company operates through Transportation, Water, Specialty, and Materials segments. The Transportation segment engages in the construction and rehabilitation of roads, pavement preservation, bridges, rail lines, airports, and marine ports.
Recommended Story: Day Trading
Receive News & Ratings for Granite Construction Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Granite Construction and related companies with MarketBeat.com's FREE daily email newsletter.