Cibc World Markets Corp Takes $361,000 Position in Granite Construction Incorporated (NYSE:GVA)

Cibc World Markets Corp bought a new position in shares of Granite Construction Incorporated (NYSE:GVA - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 4,121 shares of the construction company's stock, valued at approximately $361,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. HighTower Advisors LLC grew its holdings in shares of 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 buying an additional 9,631 shares during the last quarter. Fiduciary Financial Group LLC acquired a new position in shares of Granite Construction in the fourth quarter valued at approximately $545,000. Pacer Advisors Inc. purchased a new stake in shares of Granite Construction during the fourth quarter worth approximately $92,154,000. RPg Family Wealth Advisory LLC purchased a new position in Granite Construction during the 3rd quarter worth $4,163,000. Finally, Intech Investment Management LLC acquired a new stake in shares of Granite Construction in the 3rd quarter worth $1,312,000.

Granite Construction Stock Performance

Shares of Granite Construction stock traded up $1.58 on Tuesday, reaching $79.29. 734,232 shares of the stock were exchanged, compared to its average volume of 578,325. The firm has a market capitalization of $3.44 billion, a PE ratio of 32.10 and a beta of 1.34. Granite Construction Incorporated has a 1-year low of $52.99 and a 1-year high of $105.20. The business has a fifty day moving average price of $83.52 and a two-hundred day moving average price of $86.31. The company has a current ratio of 1.66, a quick ratio of 1.56 and a debt-to-equity ratio of 0.68.

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Granite Construction (NYSE:GVA - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The construction company reported $1.23 EPS for the quarter, missing the consensus estimate of $1.42 by ($0.19). The business had revenue of $977.30 million during the quarter. Granite Construction had a net margin of 3.15% and a return on equity of 20.67%. During the same period in the prior year, the company earned $0.82 earnings per share. As a group, research analysts anticipate that Granite Construction Incorporated will post 5.49 earnings per share for the current fiscal year.

Granite Construction Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.52 annualized dividend and a yield of 0.66%. Granite Construction's payout ratio is currently 21.05%.

Insider Buying and Selling at Granite Construction

In other Granite Construction news, 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 value 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. This represents a 8.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Brian R. Dowd sold 2,025 shares of the firm's stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $81.55, for a total transaction of $165,138.75. Following the transaction, the senior vice president now directly owns 13,880 shares of the company's stock, valued at approximately $1,131,914. This trade represents a 12.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.81% of the stock is currently owned by corporate insiders.

About Granite Construction

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.