Versor Investments LP Reduces Stake in Granite Construction Incorporated $GVA

Versor Investments LP trimmed its stake in Granite Construction Incorporated (NYSE:GVA) by 82.0% during the fourth quarter, Holdings Channel reports. The fund owned 1,800 shares of the construction company’s stock after selling 8,217 shares during the period. Versor Investments LP’s holdings in Granite Construction were worth $208,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GVA. Mizuho Markets Cayman LP boosted its stake in Granite Construction by 569.9% in the third quarter. Mizuho Markets Cayman LP now owns 1,339,818 shares of the construction company’s stock valued at $151,064,000 after acquiring an additional 1,139,818 shares during the last quarter. UBS Group AG raised its position in shares of Granite Construction by 262.8% in the fourth quarter. UBS Group AG now owns 647,589 shares of the construction company’s stock valued at $74,699,000 after purchasing an additional 469,079 shares during the period. Qube Research & Technologies Ltd raised its position in shares of Granite Construction by 87.5% in the third quarter. Qube Research & Technologies Ltd now owns 556,054 shares of the construction company’s stock valued at $60,971,000 after purchasing an additional 259,477 shares during the period. Squarepoint Ops LLC raised its position in shares of Granite Construction by 241.7% in the second quarter. Squarepoint Ops LLC now owns 305,013 shares of the construction company’s stock valued at $28,522,000 after purchasing an additional 215,752 shares during the period. Finally, SG Americas Securities LLC raised its position in shares of Granite Construction by 3,388.3% in the fourth quarter. SG Americas Securities LLC now owns 192,622 shares of the construction company’s stock valued at $22,219,000 after purchasing an additional 187,100 shares during the period.

Insider Transactions at Granite Construction

In other news, CFO Staci M. Woolsey sold 1,523 shares of the company’s stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $119.84, for a total value of $182,516.32. Following the completion of the transaction, the chief financial officer directly owned 18,954 shares in the company, valued at approximately $2,271,447.36. This represents a 7.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Kyle T. Larkin sold 26,651 shares of the company’s stock in a transaction dated Friday, March 27th. The stock was sold at an average price of $118.12, for a total value of $3,148,016.12. Following the completion of the transaction, the chief executive officer owned 114,881 shares of the company’s stock, valued at $13,569,743.72. The trade was a 18.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 35,488 shares of company stock valued at $4,207,042 over the last quarter. Company insiders own 1.00% of the company’s stock.

Granite Construction Price Performance

GVA stock opened at $138.78 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.09 and a quick ratio of 0.97. Granite Construction Incorporated has a one year low of $84.45 and a one year high of $145.00. The stock has a market cap of $6.07 billion, a PE ratio of 39.99 and a beta of 1.35. The firm has a 50 day simple moving average of $126.44 and a two-hundred day simple moving average of $120.19.

Granite Construction (NYSE:GVA) last released its quarterly earnings results on Thursday, April 30th. The construction company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.77) by $1.03. Granite Construction had a return on equity of 24.90% and a net margin of 3.99%.The business had revenue of $912.47 million for the quarter, compared to the consensus estimate of $782.26 million. During the same quarter last year, the business posted $0.01 earnings per share. The company’s revenue for the quarter was up 30.4% on a year-over-year basis.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. DA Davidson boosted their price target on shares of Granite Construction from $130.00 to $155.00 and gave the company a “buy” rating in a research report on Friday, February 13th. The Goldman Sachs Group boosted their price target on shares of Granite Construction from $109.00 to $124.00 and gave the company a “neutral” rating in a research report on Wednesday, January 28th. Weiss Ratings lowered shares of Granite Construction from a “buy (b)” rating to a “hold (c+)” rating in a research report on Wednesday, May 6th. Finally, Wall Street Zen raised shares of Granite Construction from a “hold” rating to a “buy” rating in a research report on Saturday, February 28th. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Granite Construction has a consensus rating of “Hold” and an average target price of $139.50.

About Granite Construction

Granite Construction Inc is a publicly traded heavy civil contractor and construction materials producer based in Watsonville, California. The company specializes in delivering large-scale infrastructure projects for government and private clients, focusing on the development, rehabilitation and maintenance of transportation, water resource and industrial facilities. Its turnkey solutions span the full project lifecycle, from preconstruction and design-build to construction management and facilities maintenance.

In its construction segment, Granite undertakes highway and bridge building, airport runway and taxiway construction, marine terminal and port improvements, dam and reservoir projects, transit systems and underground utilities.