Advisors Asset Management Inc. Acquires 14,651 Shares of Granite Construction Incorporated (NYSE:GVA)

Advisors Asset Management Inc. lifted its holdings in shares of Granite Construction Incorporated (NYSE:GVA - Free Report) by 15.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 106,602 shares of the construction company's stock after purchasing an additional 14,651 shares during the quarter. Advisors Asset Management Inc. owned 0.24% of Granite Construction worth $9,350,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of GVA. Pacer Advisors Inc. acquired a new stake in Granite Construction during the 4th quarter worth approximately $92,154,000. Hill City Capital LP raised its holdings in shares of Granite Construction by 5.2% during the third quarter. Hill City Capital LP now owns 978,938 shares of the construction company's stock worth $77,610,000 after acquiring an additional 48,440 shares during the period. Hennessy Advisors Inc. bought a new stake in Granite Construction in the 4th quarter valued at $61,046,000. Systematic Financial Management LP boosted its stake in Granite Construction by 3.2% in the 3rd quarter. Systematic Financial Management LP now owns 604,950 shares of the construction company's stock worth $47,960,000 after purchasing an additional 18,586 shares during the period. Finally, Fisher Asset Management LLC increased its holdings in Granite Construction by 86.4% during the 3rd quarter. Fisher Asset Management LLC now owns 363,816 shares of the construction company's stock worth $28,843,000 after purchasing an additional 168,673 shares in the last quarter.

Granite Construction Stock Down 0.2 %

Shares of Granite Construction stock traded down $0.12 during trading on Friday, reaching $76.13. The stock had a trading volume of 1,499,753 shares, compared to its average volume of 578,270. The company has a current ratio of 1.66, a quick ratio of 1.56 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $3.31 billion, a price-to-earnings ratio of 30.82 and a beta of 1.34. The stock has a fifty day moving average price of $83.95 and a two-hundred day moving average price of $86.11. Granite Construction Incorporated has a 52 week low of $52.99 and a 52 week high of $105.20.

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Granite Construction (NYSE:GVA - Get Free Report) last released its earnings results on Thursday, February 13th. The construction company reported $1.23 EPS for the quarter, missing the consensus estimate of $1.42 by ($0.19). The firm 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 firm earned $0.82 EPS. Sell-side analysts predict that Granite Construction Incorporated will post 5.49 EPS for the current fiscal year.

Granite Construction Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date is Monday, March 31st. Granite Construction's dividend payout ratio (DPR) is currently 21.05%.

Insider Buying and Selling at Granite Construction

In related news, SVP Brian R. Dowd sold 2,025 shares of Granite Construction stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $81.55, for a total value of $165,138.75. Following the sale, the senior vice president now owns 13,880 shares of the company's stock, valued at approximately $1,131,914. The trade was a 12.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO James A. Radich sold 2,500 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $87.14, for a total value of $217,850.00. Following 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 disclosure for this sale can be found here. Company insiders own 0.81% of the company's stock.

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.