Granite Construction (NYSE:GVA) Coverage Initiated at StockNews.com

StockNews.com started coverage on shares of Granite Construction (NYSE:GVA – Get Rating) in a research note published on Thursday. The brokerage issued a buy rating on the construction company’s stock.

A number of other equities research analysts have also recently commented on the stock. The Goldman Sachs Group increased their price objective on shares of Granite Construction from $32.00 to $36.00 and gave the company a sell rating in a research note on Tuesday, February 21st. DA Davidson raised their price target on shares of Granite Construction from $50.00 to $55.00 in a research note on Friday, February 17th.

Granite Construction Price Performance

Shares of NYSE GVA opened at $40.04 on Thursday. The stock has a market cap of $1.75 billion, a price-to-earnings ratio of 20.02 and a beta of 1.41. Granite Construction has a 52 week low of $25.35 and a 52 week high of $44.15. The company’s 50-day moving average price is $41.25 and its 200 day moving average price is $35.09. The company has a current ratio of 1.69, a quick ratio of 1.58 and a debt-to-equity ratio of 0.29.

Institutional Investors Weigh In On Granite Construction

Several hedge funds have recently modified their holdings of the company. Victory Capital Management Inc. boosted its stake in shares of Granite Construction by 16.7% during the 4th quarter. Victory Capital Management Inc. now owns 275,733 shares of the construction company’s stock worth $9,670,000 after purchasing an additional 39,469 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in shares of Granite Construction by 1.4% during the 4th quarter. Alliancebernstein L.P. now owns 63,231 shares of the construction company’s stock worth $2,218,000 after acquiring an additional 862 shares during the period. Personal Capital Advisors Corp lifted its holdings in shares of Granite Construction by 2.4% during the 4th quarter. Personal Capital Advisors Corp now owns 431,973 shares of the construction company’s stock worth $15,149,000 after acquiring an additional 10,185 shares during the period. MetLife Investment Management LLC lifted its holdings in shares of Granite Construction by 1.9% during the 4th quarter. MetLife Investment Management LLC now owns 23,019 shares of the construction company’s stock worth $807,000 after acquiring an additional 437 shares during the period. Finally, Systematic Financial Management LP lifted its holdings in shares of Granite Construction by 36.0% during the 4th quarter. Systematic Financial Management LP now owns 384,952 shares of the construction company’s stock worth $13,500,000 after acquiring an additional 101,987 shares during the period. 98.77% of the stock is owned by institutional investors and hedge funds.

About Granite Construction

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Granite Construction, Inc is a holding company. It operates as an infrastructure contractor and a construction materials company in the United States. It operates through the following segments: Construction and Materials. The Construction segment is involved 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.