Aigen Investment Management LP Buys Shares of 6,538 Granite Construction Incorporated (NYSE:GVA)

Aigen Investment Management LP acquired a new position in Granite Construction Incorporated (NYSE:GVA - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 6,538 shares of the construction company's stock, valued at approximately $573,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Illinois Municipal Retirement Fund lifted its position in Granite Construction by 0.5% during the fourth quarter. Illinois Municipal Retirement Fund now owns 23,747 shares of the construction company's stock valued at $2,083,000 after purchasing an additional 115 shares during the last quarter. GAMMA Investing LLC lifted its position in Granite Construction by 8.5% during the fourth quarter. GAMMA Investing LLC now owns 2,178 shares of the construction company's stock valued at $191,000 after purchasing an additional 171 shares during the last quarter. Atomi Financial Group Inc. lifted its position in Granite Construction by 6.7% during the fourth quarter. Atomi Financial Group Inc. now owns 4,769 shares of the construction company's stock valued at $418,000 after purchasing an additional 301 shares during the last quarter. KBC Group NV lifted its position in 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 last quarter. Finally, D.A. Davidson & CO. lifted its position in Granite Construction by 0.7% during the fourth quarter. D.A. Davidson & CO. now owns 65,861 shares of the construction company's stock valued at $5,777,000 after purchasing an additional 477 shares during the last quarter.

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Insider Transactions at Granite Construction

In related news, COO James A. Radich sold 2,500 shares of the firm's stock in a transaction dated 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 owns 28,256 shares of the company's stock, valued at $2,462,227.84. This trade represents a 8.13 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Brian R. Dowd sold 2,025 shares of the firm's stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $81.55, for a total transaction of $165,138.75. Following the completion of the transaction, the senior vice president now directly 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 Price Performance

GVA stock traded down $2.29 during trading on Friday, hitting $73.87. 1,585,724 shares of the company's stock traded hands, compared to its average volume of 611,853. Granite Construction Incorporated has a 52 week low of $52.88 and a 52 week high of $105.20. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.56 and a current ratio of 1.66. The business has a fifty day simple moving average of $86.87 and a 200 day simple moving average of $85.99. The stock has a market capitalization of $3.21 billion, a price-to-earnings ratio of 29.91 and a beta of 1.34.

Granite Construction (NYSE:GVA - Get Free Report) last released its 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 during the quarter. Granite Construction had a return on equity of 20.67% and a net margin of 3.15%. During the same period in the previous year, the business earned $0.82 EPS. As a group, research analysts expect that Granite Construction Incorporated will post 5.49 EPS for the current fiscal year.

Granite Construction Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a $0.13 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $0.52 annualized dividend and a dividend yield of 0.70%. Granite Construction's dividend payout ratio (DPR) is presently 21.05%.

Granite Construction Profile

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.