D.A. Davidson & CO. Has $5.78 Million Position in Granite Construction Incorporated (NYSE:GVA)

D.A. Davidson & CO. raised its stake in shares of Granite Construction Incorporated (NYSE:GVA) by 0.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 65,861 shares of the construction company’s stock after purchasing an additional 477 shares during the period. D.A. Davidson & CO.’s holdings in Granite Construction were worth $5,777,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of GVA. Creative Planning boosted its stake in shares of Granite Construction by 168.3% during the 3rd quarter. Creative Planning now owns 8,827 shares of the construction company’s stock valued at $700,000 after buying an additional 5,537 shares during the period. Blue Trust Inc. lifted its stake in shares of Granite Construction by 66.4% in the 3rd quarter. Blue Trust Inc. now owns 902 shares of the construction company’s stock valued at $72,000 after purchasing an additional 360 shares during the last quarter. BayBridge Capital Group LLC acquired a new stake in shares of Granite Construction in the 3rd quarter valued at $551,000. Hedges Asset Management LLC acquired a new stake in shares of Granite Construction in the 3rd quarter valued at $238,000. Finally, Pinnacle Associates Ltd. lifted its stake in shares of Granite Construction by 3.2% in the 3rd quarter. Pinnacle Associates Ltd. now owns 179,355 shares of the construction company’s stock valued at $14,219,000 after purchasing an additional 5,528 shares during the last quarter.

Granite Construction Stock Down 1.1 %

GVA stock opened at $86.78 on Thursday. The company has a current ratio of 1.66, a quick ratio of 1.56 and a debt-to-equity ratio of 0.68. Granite Construction Incorporated has a 1 year low of $48.11 and a 1 year high of $105.20. The company has a fifty day simple moving average of $89.46 and a 200 day simple moving average of $85.16. The firm has a market cap of $3.79 billion, a PE ratio of 35.13 and a beta of 1.42.

Granite Construction (NYSE:GVA) last released its quarterly earnings data on Thursday, February 13th. The construction company reported $1.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.42 by ($0.19). Granite Construction had a net margin of 3.15% and a return on equity of 20.67%. The business had revenue of $977.30 million during the quarter. During the same period in the previous year, the firm posted $0.82 earnings per share. Sell-side analysts anticipate that Granite Construction Incorporated will post 5.68 EPS for the current fiscal year.

Granite Construction Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a $0.13 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.60%. Granite Construction’s payout ratio is presently 21.05%.

About Granite Construction

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.