ExodusPoint Capital Management LP Makes New $5.85 Million Investment in Granite Construction Incorporated (NYSE:GVA)

ExodusPoint Capital Management LP bought a new stake in Granite Construction Incorporated (NYSE:GVA - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 66,660 shares of the construction company's stock, valued at approximately $5,847,000. ExodusPoint Capital Management LP owned approximately 0.15% of Granite Construction as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Steward Partners Investment Advisory LLC bought a new position in Granite Construction in the 4th quarter valued at $89,000. Smartleaf Asset Management LLC raised its position in Granite Construction by 193.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,345 shares of the construction company's stock worth $119,000 after acquiring an additional 887 shares during the period. KBC Group NV boosted its stake in Granite Construction by 26.6% in the fourth quarter. KBC Group NV now owns 1,751 shares of the construction company's stock valued at $154,000 after acquiring an additional 368 shares during the last quarter. GAMMA Investing LLC boosted its stake in Granite Construction by 8.5% in the fourth quarter. GAMMA Investing LLC now owns 2,178 shares of the construction company's stock valued at $191,000 after acquiring an additional 171 shares during the last quarter. Finally, Point72 DIFC Ltd bought a new position in shares of Granite Construction during the 3rd quarter valued at approximately $203,000.

Insider Activity

In related news, SVP Brian R. Dowd sold 2,025 shares of the business's stock in a transaction 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 sale, 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO James A. Radich sold 2,500 shares of the firm's stock in a transaction dated 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 transaction, the chief operating officer now owns 28,256 shares of the company's stock, 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. Insiders own 0.81% of the company's stock.

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Granite Construction Stock Performance

Shares of NYSE:GVA traded down $1.52 during mid-day trading on Thursday, reaching $76.08. The company had a trading volume of 206,179 shares, compared to its average volume of 625,844. Granite Construction Incorporated has a one year low of $52.99 and a one year high of $105.20. 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 company's 50-day moving average price is $79.48 and its 200-day moving average price is $86.05. The firm has a market cap of $3.30 billion, a price-to-earnings ratio of 30.77 and a beta of 1.26.

Granite Construction (NYSE:GVA - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The construction company reported $1.23 EPS 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 quarter in the previous year, the company earned $0.82 earnings per share. As a group, equities research analysts anticipate that Granite Construction Incorporated will post 5.49 EPS for the current fiscal year.

Granite Construction Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $0.13 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.52 annualized dividend and a dividend yield of 0.68%. Granite Construction's payout ratio is 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.