Bank of Montreal Can raised its position in shares of Granite Construction Inc. (NYSE:GVA) by 1.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 270,552 shares of the construction company’s stock after purchasing an additional 3,416 shares during the quarter. Bank of Montreal Can owned 0.11% of Granite Construction worth $12,018,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GVA. Harvest Fund Management Co. Ltd grew its position in shares of Granite Construction by 4.4% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 1,626,230 shares of the construction company’s stock valued at $61,768,000 after purchasing an additional 68,845 shares during the period. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Granite Construction during the 4th quarter valued at about $10,712,000. Cambridge Investment Research Advisors Inc. grew its position in shares of Granite Construction by 79.5% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 19,454 shares of the construction company’s stock valued at $706,000 after purchasing an additional 8,036 shares during the period. Morgan Stanley grew its position in shares of Granite Construction by 4.4% during the 4th quarter. Morgan Stanley now owns 624,589 shares of the construction company’s stock valued at $21,397,000 after purchasing an additional 25,755 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of Granite Construction by 0.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 723,789 shares of the construction company’s stock valued at $19,750,000 after purchasing an additional 4,931 shares during the period. Institutional investors and hedge funds own 70.15% of the company’s stock.

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Shares of Granite Construction Inc. (NYSE GVA) opened at $32.20 on Wednesday. Granite Construction Inc. has a 1 year low of $24.45 and a 1 year high of $32.51. The company has a market capitalization of $1,627.33, a P/E ratio of 47.51, a PEG ratio of 1.76 and a beta of 1.18. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.46.

A number of analysts have recently commented on GVA shares. Zacks Investment Research upgraded shares of Granite Construction from a “hold” rating to a “buy” rating and set a $31.00 price objective for the company in a research note on Tuesday, January 23rd. TheStreet upgraded shares of Granite Construction from a “c+” rating to a “b-” rating in a research note on Tuesday, December 19th. Finally, BMO Capital Markets started coverage on shares of Granite Construction in a research note on Tuesday, November 14th. They issued an “outperform” rating and a $33.00 price objective for the company.

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About Granite Construction

Granite Construction Incorporated is a heavy civil contractor. The Company operates through four segments: commercial, infrastructure, industrial and quarry. The Company operates in various geographic areas within the United States, including the Pacific, Eastern and Western regions. The commercial segment includes the execution of several construction contracts throughout the United States.

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