Granite Construction Inc (NYSE:GVA) Move as Institutional Investors’ Sentiment Crashes

May 18, 2018 - By Darrin Black

Granite Construction Incorporated (NYSE:GVA) Logo

Sentiment for Granite Construction Inc (NYSE:GVA)

Granite Construction Inc (NYSE:GVA) institutional sentiment decreased to 1.06 in 2017 Q4. Its down -0.19, from 1.25 in 2017Q3. The ratio is negative, as 99 hedge funds opened new or increased positions, while 93 reduced and sold stakes in Granite Construction Inc. The hedge funds in our partner’s database reported: 36.92 million shares, down from 38.81 million shares in 2017Q3. Also, the number of hedge funds holding Granite Construction Inc in their top 10 positions was flat from 6 to 6 for the same number . Sold All: 12 Reduced: 81 Increased: 65 New Position: 34.

Granite Construction Incorporated operates as a heavy civil contractor and a construction materials producer in the United States. The company has market cap of $2.37 billion. The firm operates through three divisions: Construction, Large Project Construction, and Construction Materials. It has a 34.65 P/E ratio. The Construction segment undertakes various construction projects focusing on new construction and improvement of streets, roads, highways, bridges, site work, underground, power-related facilities, utilities, and other infrastructure projects.

The stock increased 0.54% or $0.32 during the last trading session, reaching $59.26. About 299,542 shares traded. Granite Construction Incorporated (NYSE:GVA) has risen 13.20% since May 18, 2017 and is uptrending. It has outperformed by 1.65% the S&P500.

Analysts await Granite Construction Incorporated (NYSE:GVA) to report earnings on August, 7. They expect $0.89 earnings per share, up 154.29 % or $0.54 from last year’s $0.35 per share. GVA’s profit will be $35.64 million for 16.65 P/E if the $0.89 EPS becomes a reality. After $-0.13 actual earnings per share reported by Granite Construction Incorporated for the previous quarter, Wall Street now forecasts -784.62 % EPS growth.

Rutabaga Capital Management Llc Ma holds 2.96% of its portfolio in Granite Construction Incorporated for 202,605 shares. Morgan Dempsey Capital Management Llc owns 126,860 shares or 2.59% of their US portfolio. Moreover, John G Ullman & Associates Inc has 2.5% invested in the company for 197,815 shares. The Minnesota-based Next Century Growth Investors Llc has invested 2.14% in the stock. Tributary Capital Management Llc, a Colorado-based fund reported 349,815 shares.

Since January 1, 0001, it had 0 buys, and 1 sale for $79,695 activity.

Granite Construction Incorporated (NYSE:GVA) Ratings Coverage

Ratings analysis reveals 100% of Granite Construction Inc’s analysts are positive. Out of 3 Wall Street analysts rating Granite Construction Inc, 3 give it “Buy”, 0 “Sell” rating, while 0 recommend “Hold”. The lowest target is $76.0 while the high is $85.0. The stock’s average target of $80.50 is 35.84% above today’s ($59.26) share price. GVA was included in 3 notes of analysts from January 18, 2018. The firm earned “Buy” rating on Thursday, April 5 by DA Davidson. The firm has “Buy” rating by Cowen & Co given on Thursday, January 18.

More important recent Granite Construction Incorporated (NYSE:GVA) news were published by: Prnewswire.com which released: “SHAREHOLDER ALERT: Monteverde & Associates PC is Investigating Upcoming Layne Christensen Company Vote …” on May 17, 2018, also Businesswire.com published article titled: “Forbes Names Granite One of America’s Best Mid-Size Employers for the Third Year in a Row”, Streetinsider.com published: “Granite Construction (GVA) Announces Retirement of CFO” on April 23, 2018. More interesting news about Granite Construction Incorporated (NYSE:GVA) was released by: Seekingalpha.com and their article: “Granite Construction’s (GVA) CEO Jim Roberts on Q1 2018 Results – Earnings Call Transcript” with publication date: April 30, 2018.

Granite Construction Incorporated (NYSE:GVA) Institutional Positions Chart

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