Magnetar Financial LLC Acquires New Holdings in Granite Construction Incorporated (NYSE:GVA)

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

A number of other institutional investors and hedge funds have also recently bought and sold shares of GVA. Steward Partners Investment Advisory LLC bought a new stake in shares of Granite Construction in the 4th quarter worth about $89,000. Smartleaf Asset Management LLC grew its holdings in Granite Construction by 193.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,345 shares of the construction company's stock worth $119,000 after buying an additional 887 shares in the last quarter. KBC Group NV increased its holdings in shares of Granite Construction by 26.6% during the fourth quarter. KBC Group NV now owns 1,751 shares of the construction company's stock valued at $154,000 after purchasing an additional 368 shares during the period. GAMMA Investing LLC lifted its stake in shares of Granite Construction by 8.5% in the 4th quarter. GAMMA Investing LLC now owns 2,178 shares of the construction company's stock worth $191,000 after acquiring an additional 171 shares during the period. Finally, Point72 DIFC Ltd bought a new position in Granite Construction during the 3rd quarter valued at $203,000.

Insider Activity at Granite Construction

In related news, SVP Brian R. Dowd sold 2,025 shares of the stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $81.55, for a total transaction of $165,138.75. Following the completion of the sale, the senior vice president now owns 13,880 shares in the company, valued at $1,131,914. This trade represents a 12.73 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO James A. Radich sold 2,500 shares of the business'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 in the company, valued at approximately $2,462,227.84. This represents a 8.13 % decrease in their position. The disclosure for this sale can be found here. 0.81% of the stock is currently owned by company insiders.

Remove Ads

Granite Construction Price Performance

Shares of NYSE GVA traded up $1.60 during midday trading on Tuesday, reaching $79.31. The company's stock had a trading volume of 226,600 shares, compared to its average volume of 578,325. Granite Construction Incorporated has a one year low of $52.99 and a one year high of $105.20. The company has a 50 day moving average price of $83.74 and a 200 day moving average price of $86.25. The company has a market cap of $3.44 billion, a price-to-earnings ratio of 32.16 and a beta of 1.34. The company has a current ratio of 1.66, a quick ratio of 1.56 and a debt-to-equity ratio of 0.68.

Granite Construction (NYSE:GVA - Get Free Report) last issued its earnings results on Thursday, February 13th. The construction company reported $1.23 earnings per share for the quarter, missing analysts' consensus estimates of $1.42 by ($0.19). The business had revenue of $977.30 million during the quarter. Granite Construction had a net margin of 3.15% and a return on equity of 20.67%. During the same quarter last year, the company earned $0.82 EPS. On average, equities research analysts expect that Granite Construction Incorporated will post 5.49 EPS for the current year.

Granite Construction Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.13 per share. The ex-dividend date is Monday, March 31st. This represents a $0.52 annualized dividend and a yield of 0.66%. Granite Construction's dividend payout ratio (DPR) is presently 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.