Deprince Race Zollo Inc Lowers stake in Granite Construction (GVA)

Granite Construction (GVA) : Deprince Race Zollo Inc reduced its stake in Granite Construction by 4.19% during the most recent quarter end. The investment management company now holds a total of 1,593,630 shares of Granite Construction which is valued at $69,179,478 after selling 69,760 shares in Granite Construction , the firm said in a disclosure report filed with the SEC on May 2, 2016.Granite Construction makes up approximately 1.36% of Deprince Race Zollo Inc’s portfolio.

Granite Construction opened for trading at $42.7 and hit $43.58 on the upside on Friday, eventually ending the session at $43.41, with a gain of 1.54% or 0.66 points. The heightened volatility saw the trading volume jump to 3,42,830 shares. Company has a market cap of $1,718 M.

Other Hedge Funds, Including , Rhumbline Advisers boosted its stake in GVA in the latest quarter, The investment management firm added 8,415 additional shares and now holds a total of 94,303 shares of Granite Construction which is valued at $4,093,693. Granite Construction makes up approx 0.01% of Rhumbline Advisers’s portfolio.Russell Frank Co boosted its stake in GVA in the latest quarter, The investment management firm added 188,481 additional shares and now holds a total of 799,021 shares of Granite Construction which is valued at $35,628,346. Granite Construction makes up approx 0.06% of Russell Frank Co’s portfolio.State Of New Jersey Common Pension Fund D reduced its stake in GVA by selling 50,000 shares or 20.0% in the most recent quarter. The Hedge Fund company now holds 200,000 shares of GVA which is valued at $8,918,000. Granite Construction makes up approx 0.04% of State Of New Jersey Common Pension Fund D’s portfolio.Killen Group Inc reduced its stake in GVA by selling 222,136 shares or 61.53% in the most recent quarter. The Hedge Fund company now holds 138,905 shares of GVA which is valued at $6,193,774. Granite Construction makes up approx 0.87% of Killen Group Inc’s portfolio. Strs Ohio added GVA to its portfolio by purchasing 1,500 company shares during the most recent quarter which is valued at $70,050.

On the company’s financial health, Granite Construction reported $-0.28 EPS for the quarter, missing the analyst consensus estimate by $ -0.13 based on the information available during the earnings call on Apr 29, 2016. Analyst had a consensus of $-0.15. The company had revenue of $439.50 million for the quarter, compared to analysts expectations of $430.63 million. The company’s revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.22 EPS.

Granite Construction Incorporated (Granite) is a heavy civil contractors and construction materials producer in the United States. The Company operates through segments including Construction Large Project Construction and Construction Materials. The Company operates across the nation serving both public and private sector clients. Within the public sector it concentrates on heavy-civil infrastructure projects including the construction of streets roads highways mass transit facilities airport infrastructure bridges trenchless and underground utilities power-related facilities utilities tunnels dams and other infrastructure-related projects. Within the private sector the Company offers site preparation and infrastructure services for residential development energy development commercial and industrial sites and other facilities as well as provides construction management professional services.

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