Jump Financial LLC Has $868,000 Stake in Granite Construction Incorporated (NYSE:GVA)

Jump Financial LLC boosted its position in shares of Granite Construction Incorporated (NYSE:GVA) by 72.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,889 shares of the construction company’s stock after buying an additional 8,789 shares during the period. Jump Financial LLC’s holdings in Granite Construction were worth $868,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in GVA. Victory Capital Management Inc. acquired a new stake in Granite Construction during the second quarter worth about $30,147,000. Bernzott Capital Advisors acquired a new stake in shares of Granite Construction in the 2nd quarter valued at approximately $21,704,000. JPMorgan Chase & Co. boosted its stake in shares of Granite Construction by 595.9% in the 1st quarter. JPMorgan Chase & Co. now owns 147,269 shares of the construction company’s stock valued at $5,929,000 after purchasing an additional 126,106 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Granite Construction by 153.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 186,115 shares of the construction company’s stock valued at $7,491,000 after purchasing an additional 112,769 shares in the last quarter. Finally, Walthausen & Co. LLC acquired a new stake in shares of Granite Construction in the 2nd quarter valued at approximately $3,435,000. Hedge funds and other institutional investors own 96.44% of the company’s stock.

Separately, Zacks Investment Research downgraded shares of Granite Construction from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 29th.

GVA opened at $39.26 on Thursday. The company’s 50 day moving average is $39.98 and its 200-day moving average is $39.63. Granite Construction Incorporated has a 1-year low of $18.08 and a 1-year high of $44.31. The company has a current ratio of 1.49, a quick ratio of 1.41 and a debt-to-equity ratio of 0.34. The company has a market cap of $1.80 billion, a P/E ratio of -18.35 and a beta of 1.53.

Granite Construction (NYSE:GVA) last issued its quarterly earnings data on Thursday, July 29th. The construction company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.47. The business had revenue of $964.17 million during the quarter. Granite Construction had a negative net margin of 2.60% and a positive return on equity of 9.97%. On average, equities analysts forecast that Granite Construction Incorporated will post 1.82 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 15th. Investors of record on Thursday, September 30th will be issued a $0.13 dividend. The ex-dividend date of this dividend is Wednesday, September 29th. This represents a $0.52 dividend on an annualized basis and a yield of 1.32%. Granite Construction’s dividend payout ratio (DPR) is presently 40.00%.

About Granite Construction

Granite Construction, Inc is a holding company, which engages in the provision of infrastructure solutions for public and private clients. It operates through the following segments: Transportation, Water, Specialty and Materials. The Transportation segment focuses on construction and rehabilitation of roads, pavement preservation, bridges, rail lines, airports and marine ports.

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Institutional Ownership by Quarter for Granite Construction (NYSE:GVA)

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