CenterBook Partners LP purchased a new stake in shares of 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 purchased 18,428 shares of the construction company's stock, valued at approximately $1,616,000.
Other hedge funds have also recently made changes to their positions in the company. HighTower Advisors LLC increased its position in shares of Granite Construction by 176.4% during the 3rd quarter. HighTower Advisors LLC now owns 15,092 shares of the construction company's stock valued at $1,199,000 after purchasing an additional 9,631 shares during the last quarter. Fiduciary Financial Group LLC purchased a new stake in Granite Construction in the fourth quarter worth $545,000. Pacer Advisors Inc. purchased a new position in Granite Construction in the 4th quarter worth about $92,154,000. Teacher Retirement System of Texas boosted its position in Granite Construction by 35.2% in the 4th quarter. Teacher Retirement System of Texas now owns 26,319 shares of the construction company's stock valued at $2,308,000 after buying an additional 6,852 shares during the period. Finally, Norges Bank bought a new position in Granite Construction in the 4th quarter worth about $31,855,000.
Granite Construction Trading Down 0.1 %
Shares of NYSE GVA traded down $0.08 during trading hours on Wednesday, reaching $77.59. The stock had a trading volume of 91,957 shares, compared to its average volume of 630,167. 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 business's fifty day moving average price is $78.70 and its two-hundred day moving average price is $86.01. The firm has a market cap of $3.37 billion, a price-to-earnings ratio of 31.41 and a beta of 1.26. Granite Construction Incorporated has a 52-week low of $52.99 and a 52-week high of $105.20.
Granite Construction (NYSE:GVA - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $977.30 million for 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 prior year, the business earned $0.82 EPS. Analysts expect that Granite Construction Incorporated will post 5.49 EPS for the current fiscal year.
Granite Construction Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 0.67%. The ex-dividend date of this dividend was Monday, March 31st. Granite Construction's dividend payout ratio (DPR) is 21.05%.
Insiders Place Their Bets
In related news, SVP Brian R. Dowd sold 2,025 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $81.55, for a total value 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 approximately $1,131,914. This represents a 12.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO James A. Radich sold 2,500 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $87.14, for a total transaction 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. The trade was a 8.13 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.81% of the company's stock.
About Granite Construction
(
Free Report)
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.
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