Charles Schwab Investment Management Inc. reduced its holdings in shares of Granite Construction Incorporated (NYSE:GVA - Free Report) by 2.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 668,625 shares of the construction company's stock after selling 19,356 shares during the period. Charles Schwab Investment Management Inc. owned about 1.53% of Granite Construction worth $58,645,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Steward Partners Investment Advisory LLC bought a new position in Granite Construction during the fourth quarter valued at approximately $89,000. Smartleaf Asset Management LLC grew its position in Granite Construction by 193.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,345 shares of the construction company's stock valued at $119,000 after acquiring an additional 887 shares during the last quarter. KBC Group NV grew its holdings in shares of Granite Construction by 26.6% in the fourth quarter. KBC Group NV now owns 1,751 shares of the construction company's stock worth $154,000 after purchasing an additional 368 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Granite Construction by 8.5% in the fourth quarter. GAMMA Investing LLC now owns 2,178 shares of the construction company's stock worth $191,000 after purchasing an additional 171 shares during the last quarter. Finally, Point72 DIFC Ltd bought a new position in shares of Granite Construction in the third quarter worth approximately $203,000.
Granite Construction Trading Up 2.2 %
Shares of Granite Construction stock traded up $1.58 on Friday, hitting $74.00. The stock had a trading volume of 576,639 shares, compared to its average volume of 567,927. The company has a quick ratio of 1.56, a current ratio of 1.66 and a debt-to-equity ratio of 0.68. Granite Construction Incorporated has a one year low of $52.99 and a one year high of $105.20. The stock has a market cap of $3.21 billion, a price-to-earnings ratio of 29.96 and a beta of 1.34. The stock's 50-day simple moving average is $85.29 and its two-hundred day simple moving average is $86.09.
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 (EPS) for the quarter, missing the consensus estimate of $1.42 by ($0.19). Granite Construction had a return on equity of 20.67% and a net margin of 3.15%. The firm had revenue of $977.30 million during the quarter. During the same quarter last year, the company earned $0.82 EPS. As a group, sell-side analysts predict that Granite Construction Incorporated will post 5.49 EPS for the current year.
Insider Buying and Selling
In related news, SVP Brian R. Dowd sold 2,025 shares of the firm's stock in a transaction 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 sale, the senior vice president now owns 13,880 shares of the company's stock, valued at $1,131,914. This trade represents a 12.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO James A. Radich sold 2,500 shares of the firm's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $87.14, for a total value of $217,850.00. Following the completion of the sale, 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. 0.81% of the stock is currently owned by insiders.
Granite Construction Profile
(
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.
Further Reading
Before you consider Granite Construction, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Granite Construction wasn't on the list.
While Granite Construction currently has a Sell rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Almost everyone loves strong dividend-paying stocks, but high yields can signal danger. Discover 20 high-yield dividend stocks paying an unsustainably large percentage of their earnings. Enter your email to get this report and avoid a high-yield dividend trap.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
