Could Granite Construction Incorporated (NYSE:GVA) Change Direction After Less Shorts?

January 19, 2018 - By Jacob Falcon

 Could Granite Construction Incorporated (NYSE:GVA) Change Direction After Less Shorts?

Investors sentiment decreased to 1.25 in 2017 Q3. Its down 0.15, from 1.4 in 2017Q2. It fall, as 17 investors sold Granite Construction Incorporated shares while 63 reduced holdings. 25 funds opened positions while 75 raised stakes. 38.81 million shares or 2.12% more from 38.01 million shares in 2017Q2 were reported.
Benjamin F Edwards owns 0.11% invested in Granite Construction Incorporated (NYSE:GVA) for 15,570 shares. California State Teachers Retirement Systems holds 0.01% of its portfolio in Granite Construction Incorporated (NYSE:GVA) for 63,575 shares. Eulav Asset invested in 0.01% or 5,000 shares. Morgan Stanley has invested 0% in Granite Construction Incorporated (NYSE:GVA). Rhumbline Advisers has 0.01% invested in Granite Construction Incorporated (NYSE:GVA). Balyasny Asset Mngmt Lc has invested 0% in Granite Construction Incorporated (NYSE:GVA). Fagan Assocs Inc accumulated 7,925 shares. Sg Americas Limited Co accumulated 2,559 shares. Texas Permanent School Fund accumulated 29,086 shares. Natixis accumulated 7,652 shares. Pnc Fincl Serv Grp has invested 0% in Granite Construction Incorporated (NYSE:GVA). Wellington Management Grp Limited Liability Partnership accumulated 1.49M shares or 0.02% of the stock. Sterling Cap Ltd Llc has invested 0.03% of its portfolio in Granite Construction Incorporated (NYSE:GVA). Oregon Public Employees Retirement Fund has 14,679 shares for 0.01% of their portfolio. Community Tru And Investment Company holds 215,023 shares.

Since September 1, 2017, it had 0 insider buys, and 2 sales for $301,695 activity. Bjork Claes sold $79,695 worth of Granite Construction Incorporated (NYSE:GVA) on Wednesday, December 13.

The stock of Granite Construction Incorporated (NYSE:GVA) registered a decrease of 1.87% in short interest. GVA’s total short interest was 2.57 million shares in January as published by FINRA. Its down 1.87% from 2.62M shares, reported previously. With 192,800 shares average volume, it will take short sellers 13 days to cover their GVA’s short positions. The short interest to Granite Construction Incorporated’s float is 6.58%.

The stock increased 2.41% or $1.59 during the last trading session, reaching $67.7. About 222,833 shares traded. Granite Construction Incorporated (NYSE:GVA) has risen 16.24% since January 19, 2017 and is uptrending. It has underperformed by 0.46% the S&P500.

Granite Construction Incorporated operates as a heavy civil contractor and a construction materials producer in the United States. The company has market cap of $2.70 billion. The firm operates through three divisions: Construction, Large Project Construction, and Construction Materials. It has a 52.08 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.

Granite Construction Incorporated (NYSE:GVA) Ratings Coverage

Among 8 analysts covering Granite Constr (NYSE:GVA), 7 have Buy rating, 0 Sell and 1 Hold. Therefore 88% are positive. Granite Constr had 21 analyst reports since November 24, 2015 according to SRatingsIntel. The stock of Granite Construction Incorporated (NYSE:GVA) has “Buy” rating given on Thursday, October 26 by Cowen & Co. The stock of Granite Construction Incorporated (NYSE:GVA) has “Buy” rating given on Monday, April 3 by Goldman Sachs. The stock of Granite Construction Incorporated (NYSE:GVA) earned “Outperform” rating by Cowen & Co on Friday, March 31. Canaccord Genuity maintained the shares of GVA in report on Tuesday, August 1 with “Buy” rating. M Partners maintained it with “Buy” rating and $56 target in Tuesday, August 2 report. Stifel Nicolaus initiated the stock with “Buy” rating in Wednesday, December 9 report. As per Thursday, January 18, the company rating was maintained by Cowen & Co. On Wednesday, June 29 the stock rating was initiated by M Partners with “Buy”. On Tuesday, August 2 the stock rating was maintained by FBR Capital with “Outperform”. The firm has “Buy” rating given on Wednesday, June 14 by Canaccord Genuity.

More notable recent Granite Construction Incorporated (NYSE:GVA) news were published by: Fool.com which released: “Why Diana Shipping, Akorn, and Granite Construction Jumped Today” on April 07, 2017, also Seekingalpha.com with their article: “Granite Construction: Infrastructure Play” published on January 09, 2018, Barrons.com published: “Granite Construction to See Infrastructure Bump Up” on June 01, 2017. More interesting news about Granite Construction Incorporated (NYSE:GVA) were released by: Seekingalpha.com and their article: “Granite Construction (GVA) Q1 2017 Results – Earnings Call Transcript” published on May 02, 2017 as well as Seekingalpha.com‘s news article titled: “Granite Construction (GVA) Q2 2017 Results – Earnings Call Transcript” with publication date: August 01, 2017.

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