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

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

Several other hedge funds have also modified their holdings of GVA. Natixis Advisors LLC lifted its holdings in shares of Granite Construction by 4.5% in the 4th quarter. Natixis Advisors LLC now owns 14,326 shares of the construction company's stock valued at $1,257,000 after acquiring an additional 614 shares during the last quarter. Commonwealth Equity Services LLC lifted its stake in shares of Granite Construction by 3.8% in the 4th quarter. Commonwealth Equity Services LLC now owns 6,055 shares of the construction company's stock valued at $531,000 after purchasing an additional 223 shares during the last quarter. RPg Family Wealth Advisory LLC boosted its holdings in shares of Granite Construction by 4.5% in the 4th quarter. RPg Family Wealth Advisory LLC now owns 54,789 shares of the construction company's stock worth $4,813,000 after purchasing an additional 2,364 shares during the period. HighTower Advisors LLC increased its position in shares of Granite Construction by 10.9% during the 4th quarter. HighTower Advisors LLC now owns 16,731 shares of the construction company's stock valued at $1,467,000 after purchasing an additional 1,639 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Granite Construction by 18.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,723 shares of the construction company's stock valued at $1,028,000 after buying an additional 1,804 shares during the period.

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Granite Construction Trading Down 0.6 %

GVA stock traded down $0.46 during mid-day trading on Friday, reaching $75.15. 392,218 shares of the stock traded hands, compared to its average volume of 610,965. The business has a 50-day moving average price of $82.57 and a two-hundred day moving average price of $86.19. The stock has a market capitalization of $3.26 billion, a PE ratio of 30.42 and a beta of 1.34. 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 Incorporated has a one year low of $52.99 and a one year high of $105.20.

Granite Construction (NYSE:GVA - Get Free Report) last announced 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 business had revenue of $977.30 million for 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 previous year, the business earned $0.82 EPS. Equities research analysts expect that Granite Construction Incorporated will post 5.49 EPS for the current year.

Granite Construction Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 0.69%. The ex-dividend date of this dividend is Monday, March 31st. Granite Construction's dividend payout ratio is presently 21.05%.

Insider Activity at Granite Construction

In other Granite Construction news, SVP Brian R. Dowd sold 2,025 shares of the company'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 directly owns 13,880 shares in the company, valued at approximately $1,131,914. This represents a 12.73 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO James A. Radich sold 2,500 shares of the firm's stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $87.14, for a total value 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 represents 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.

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.