Arrowstreet Capital Limited Partnership Grows Stock Holdings in Granite Construction Incorporated (NYSE:GVA)

Arrowstreet Capital Limited Partnership grew its holdings in Granite Construction Incorporated (NYSE:GVA - Free Report) by 42.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 148,313 shares of the construction company's stock after acquiring an additional 44,444 shares during the period. Arrowstreet Capital Limited Partnership owned 0.34% of Granite Construction worth $13,009,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. HighTower Advisors LLC raised its position in Granite Construction by 176.4% in the third quarter. HighTower Advisors LLC now owns 15,092 shares of the construction company's stock worth $1,199,000 after acquiring an additional 9,631 shares during the period. Fiduciary Financial Group LLC purchased a new position in Granite Construction during the fourth quarter valued at $545,000. Pacer Advisors Inc. purchased a new position in Granite Construction during the fourth quarter valued at $92,154,000. Teacher Retirement System of Texas grew its stake in Granite Construction by 35.2% during 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 acquiring an additional 6,852 shares in the last quarter. Finally, Hennessy Advisors Inc. purchased a new position in Granite Construction during the fourth quarter valued at $61,046,000.

Insider Activity 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 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 filing with the SEC, which is available through the SEC website. Also, COO James A. Radich sold 2,500 shares of Granite Construction stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $87.14, for a total transaction of $217,850.00. Following the sale, the chief operating officer now owns 28,256 shares of the company's stock, valued at $2,462,227.84. The trade was 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.

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Granite Construction Price Performance

Shares of NYSE:GVA traded down $0.56 on Thursday, reaching $77.04. The company's stock had a trading volume of 50,970 shares, compared to its average volume of 625,262. Granite Construction Incorporated has a 52-week low of $52.99 and a 52-week high of $105.20. The company has a market cap of $3.35 billion, a P/E ratio of 31.19 and a beta of 1.26. The company has a 50-day simple moving average of $79.48 and a 200 day simple moving average of $86.05. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.56 and a current ratio of 1.66.

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, equities research analysts anticipate that Granite Construction Incorporated will post 5.49 EPS for the current fiscal year.

Granite Construction Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $0.13 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.52 dividend on an annualized basis and a yield of 0.67%. Granite Construction's payout ratio is 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.