Charles Schwab Investment Management Inc. Cuts Stock Position in Granite Construction Incorporated (NYSE:GVA)

Charles Schwab Investment Management Inc. lowered its holdings in shares of Granite Construction Incorporated (NYSE:GVA - Free Report) by 2.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 668,625 shares of the construction company's stock after selling 19,356 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.53% of Granite Construction worth $58,645,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. HighTower Advisors LLC increased its stake in Granite Construction by 176.4% during 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 last quarter. Fiduciary Financial Group LLC bought a new position in shares of Granite Construction during the 4th quarter valued at approximately $545,000. Pacer Advisors Inc. bought a new stake in Granite Construction in the fourth quarter worth $92,154,000. RPg Family Wealth Advisory LLC purchased a new position in shares of Granite Construction during the 3rd quarter worth about $4,163,000. Finally, Intech Investment Management LLC bought a new stake in Granite Construction during the 3rd quarter valued at about $1,312,000.

Insiders Place Their Bets

In other Granite Construction news, SVP Brian R. Dowd sold 2,025 shares of the business's stock in a transaction dated Friday, February 28th. The shares were 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. The trade was a 12.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO James A. Radich sold 2,500 shares of the company's 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 transaction, the chief operating officer now owns 28,256 shares in the company, valued at approximately $2,462,227.84. This trade represents a 8.13 % decrease in their position. The disclosure for this sale can be found here. 0.81% of the stock is owned by company insiders.

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Granite Construction Trading Up 1.9 %

Shares of NYSE:GVA traded up $1.40 during trading on Friday, reaching $73.82. 161,443 shares of the company were exchanged, compared to its average volume of 566,225. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.66 and a quick ratio of 1.56. The firm has a market capitalization of $3.21 billion, a PE ratio of 29.91 and a beta of 1.34. The business's fifty day simple moving average is $85.59 and its 200-day simple moving average is $86.00. Granite Construction Incorporated has a 12-month low of $52.99 and a 12-month high of $105.20.

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). Granite Construction had a net margin of 3.15% and a return on equity of 20.67%. The firm had revenue of $977.30 million for the quarter. During the same period in the previous year, the business posted $0.82 earnings per share. On average, research analysts anticipate that Granite Construction Incorporated will post 5.49 EPS for the current year.

Granite Construction Company 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.