EFG Asset Management North America Corp. Boosts Holdings in Granite Construction Incorporated (NYSE:GVA)

EFG Asset Management North America Corp. raised its holdings in shares of Granite Construction Incorporated (NYSE:GVA - Free Report) by 86.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 68,004 shares of the construction company's stock after buying an additional 31,573 shares during the period. Granite Construction comprises approximately 0.8% of EFG Asset Management North America Corp.'s investment portfolio, making the stock its 27th biggest position. EFG Asset Management North America Corp. owned 0.16% of Granite Construction worth $5,963,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in GVA. Pacer Advisors Inc. purchased a new position in shares of Granite Construction during the 4th quarter valued at approximately $92,154,000. Hill City Capital LP boosted its stake in Granite Construction by 5.2% during the third quarter. Hill City Capital LP now owns 978,938 shares of the construction company's stock worth $77,610,000 after buying an additional 48,440 shares during the last quarter. Hennessy Advisors Inc. purchased a new position in shares of Granite Construction during the 4th quarter worth $61,046,000. Systematic Financial Management LP raised its position in shares of Granite Construction by 3.2% during the 3rd quarter. Systematic Financial Management LP now owns 604,950 shares of the construction company's stock worth $47,960,000 after buying an additional 18,586 shares in the last quarter. Finally, Boston Partners boosted its stake in Granite Construction by 2.7% during the 4th quarter. Boston Partners now owns 584,398 shares of the construction company's stock valued at $51,813,000 after purchasing an additional 15,597 shares in the last quarter.

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Insider Activity

In other Granite Construction news, SVP Brian R. Dowd sold 2,025 shares of the firm's stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $81.55, for a total value of $165,138.75. Following the sale, the senior vice president now owns 13,880 shares in the company, valued at $1,131,914. This trade represents a 12.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO James A. Radich sold 2,500 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the chief operating officer now directly owns 28,256 shares of the company's stock, valued at $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 Price Performance

GVA stock traded down $0.46 during trading hours on Friday, hitting $75.15. 392,218 shares of the stock traded hands, compared to its average volume of 611,853. 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 stock has a 50-day simple moving average of $82.57 and a 200 day simple moving average of $86.29. Granite Construction Incorporated has a one year low of $52.99 and a one year high of $105.20. The company has a market cap of $3.26 billion, a P/E ratio of 30.42 and a beta of 1.34.

Granite Construction (NYSE:GVA - Get Free Report) last posted its 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). Granite Construction had a return on equity of 20.67% and a net margin of 3.15%. The business had revenue of $977.30 million during the quarter. During the same period last year, the company earned $0.82 earnings per share. Equities analysts forecast that Granite Construction Incorporated will post 5.49 earnings per share for the current year.

Granite Construction Dividend Announcement

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

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.