The price of Granite Construction Incorporated (NYSE:GVA) shares last traded on Wall Street fell -1.27% to $40.41.
As we calculate the median target price by taking the range between a high of $57.00 and a low of $36.00, we find $55.00. Given the previous closing price of $40.93, this indicates a potential upside of 34.38 percent. GVA stock price is now -0.14% away from the 50-day moving average and 21.26% away from the 200-day moving average. The market capitalization of the company currently stands at $1.81B.
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Brokers who have rated the stock have averaged $51.40 as their price target over the next twelve months.
With the price target enhanced from $35 to $55, DA Davidson Upgraded its rating from Neutral to Buy for Granite Construction Incorporated (NYSE: GVA). On January 13, 2020, Goldman Downgraded its previous ‘Neutral’ rating to ‘Sell’ on the stock reducing its target price from $29 to quote $26, while ‘DA Davidson’ rates the stock as ‘Neutral’.
In other news, Larkin Kyle T, President & CEO sold 8,000 shares of the company’s stock on May 06. The stock was sold for $248,480 at an average price of $31.06. Upon completion of the transaction, the President & CEO now directly owns 69,294 shares in the company, valued at $2.8 million. Insiders disposed of 18,701 shares of company stock worth roughly $0.76 million over the past 1 year. A total of 0.10% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in GVA stock. A new stake in Granite Construction Incorporated shares was purchased by LAZARD ASSET MANAGEMENT LLC during the first quarter worth $7,643,000. PUTNAM INVESTMENTS LLC invested $3,398,000 in shares of GVA during the first quarter. In the first quarter, ALPHACREST CAPITAL MANAGEMENT LLC acquired a new stake in Granite Construction Incorporated valued at approximately $2,264,000. BALYASNY ASSET MANAGEMENT LLC acquired a new stake in GVA for approximately $1,389,000. WESBANCO BANK INC purchased a new stake in GVA valued at around $1,169,000 in the second quarter.
A candlestick chart of Granite Construction Incorporated (NYSE: GVA) showed a price of $40.11 on Monday morning. During the past 12 months, Granite Construction Incorporated has had a low of $25.35 and a high of $44.15. As of last week, the company has a debt-to-equity ratio of 0.30, a current ratio of 1.70, and a quick ratio of 1.60. The fifty day moving average price for GVA is $40.47 and a two-hundred day moving average price translates $33.33 for the stock.
The latest earnings results from Granite Construction Incorporated (NYSE: GVA) was released for Sep, 2022. The net profit margin was 2.70% and return on equity was 9.00% for GVA. The company reported revenue of $975.58 million for the quarter, compared to $1.04 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -6.08 percent. For the current quarter, analysts expect GVA to generate $739.98M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 01/13/2023. Investors who held shares on 12/30/2022 were paid a $0.13 dividend. On an annualized basis, this represents a $0.52 dividend and a 1.29% percent yield. There was an ex-dividend date of 12/29/2022 for this dividend. In terms of dividend payout ratio, GVA is presently at 27.30%.
Granite Construction Incorporated(GVA) Company Profile
Granite Construction Incorporated operates as an infrastructure contractor and a construction materials producer 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. It also focuses on water-related construction for municipal agencies, commercial water suppliers, industrial facilities, and energy companies. The company also constructs various complex projects, including infrastructure/site development, mining, public safety, tunnel, solar, and power projects. The Materials segment is involved in the production of aggregates and asphalt for internal use, as well as for sale to third parties. In addition, it offers site preparation, mining, and infrastructure services for residential development, energy development, commercial and industrial sites, and other facilities; and provides construction management professional services. The company serves federal agencies, state departments of transportation, local transit authorities, county and city public works departments, school districts and developers, utilities, contractors, landscapers, manufacturers of products requiring aggregate materials, retailers, homeowners, farmers, brokers, and private owners of industrial, commercial, and residential sites. Granite Construction Incorporated was founded in 1922 and is headquartered in Watsonville, California.
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