Magnetar Financial LLC Makes New $510,000 Investment in Granite Construction Incorporated (NYSE:GVA)

Magnetar Financial LLC acquired a new position in shares of Granite Construction Incorporated (NYSE:GVA - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 5,815 shares of the construction company's stock, valued at approximately $510,000.

Other institutional investors also recently made changes to their positions in the company. Teacher Retirement System of Texas increased its stake in shares of Granite Construction by 35.2% in the fourth quarter. Teacher Retirement System of Texas now owns 26,319 shares of the construction company's stock valued at $2,308,000 after purchasing an additional 6,852 shares during the period. Xponance Inc. lifted its holdings in Granite Construction by 9.9% in the 4th quarter. Xponance Inc. now owns 3,168 shares of the construction company's stock valued at $278,000 after acquiring an additional 285 shares during the last quarter. Boston Partners boosted its stake in shares of Granite Construction by 2.7% during the 4th quarter. Boston Partners now owns 584,398 shares of the construction company's stock worth $51,813,000 after acquiring an additional 15,597 shares in the last quarter. Intech Investment Management LLC increased its stake in Granite Construction by 155.1% in the 4th quarter. Intech Investment Management LLC now owns 42,215 shares of the construction company's stock worth $3,703,000 after purchasing an additional 25,666 shares in the last quarter. Finally, Advisors Asset Management Inc. lifted its position in shares of Granite Construction by 15.9% in the 4th quarter. Advisors Asset Management Inc. now owns 106,602 shares of the construction company's stock valued at $9,350,000 after acquiring an additional 14,651 shares in the last quarter.

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Insiders Place Their Bets

In related news, COO James A. Radich sold 2,500 shares of the firm's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $87.14, for a total value of $217,850.00. Following the completion of the transaction, the chief operating officer now directly owns 28,256 shares of the company's stock, valued at $2,462,227.84. This trade represents a 8.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Brian R. Dowd sold 2,025 shares of Granite Construction stock in a transaction on Friday, February 28th. The stock was sold at an average price of $81.55, for a total transaction of $165,138.75. Following the sale, the senior vice president now owns 13,880 shares in the company, valued at $1,131,914. This represents a 12.73 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.81% of the company's stock.

Granite Construction Stock Down 1.9 %

Shares of Granite Construction stock traded down $1.49 during midday trading on Thursday, hitting $75.75. The company's stock had a trading volume of 473,833 shares, compared to its average volume of 579,704. The stock has a 50-day simple moving average of $83.24 and a 200-day simple moving average of $86.24. The company has a quick ratio of 1.56, a current ratio of 1.66 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $3.29 billion, a P/E ratio of 30.67 and a beta of 1.34. Granite Construction Incorporated has a 1-year low of $52.99 and a 1-year high of $105.20.

Granite Construction (NYSE:GVA - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The construction company reported $1.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.42 by ($0.19). The firm had revenue of $977.30 million for the quarter. Granite Construction had a net margin of 3.15% and a return on equity of 20.67%. During the same period last year, the company posted $0.82 EPS. As a group, sell-side analysts expect that Granite Construction Incorporated will post 5.49 earnings per share for the current year.

Granite Construction Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date is Monday, March 31st. Granite Construction's dividend payout ratio (DPR) is currently 21.05%.

About Granite Construction

Granite Construction Incorporated operates as an infrastructure contractor in the United States. It operates through two segments: Construction and Materials segments. The Construction segment engages in the construction and rehabilitation of roads, pavement preservation, bridges, rail lines, airports, marine ports, dams, reservoirs, aqueducts, infrastructure, and site development for use by the public and water-related construction for municipal agencies, commercial water suppliers, industrial facilities, and energy companies; and construction of various complex projects, including infrastructure/site development, mining, public safety, tunnel, solar storage, and power related projects.