Fisher Asset Management LLC Sells 41,692 Shares of Granite Construction Incorporated (NYSE:GVA)

Fisher Asset Management LLC decreased its position in shares of Granite Construction Incorporated (NYSE:GVA - Free Report) by 11.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 322,124 shares of the construction company's stock after selling 41,692 shares during the period. Fisher Asset Management LLC owned 0.74% of Granite Construction worth $28,253,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GVA. Creative Planning raised its holdings in Granite Construction by 168.3% during the third quarter. Creative Planning now owns 8,827 shares of the construction company's stock worth $700,000 after purchasing an additional 5,537 shares in the last quarter. US Bancorp DE raised its holdings in Granite Construction by 77.5% during the third quarter. US Bancorp DE now owns 2,730 shares of the construction company's stock worth $216,000 after purchasing an additional 1,192 shares in the last quarter. Stephens Inc. AR acquired a new position in Granite Construction in the third quarter worth approximately $369,000. Crossmark Global Holdings Inc. acquired a new position in Granite Construction in the third quarter worth approximately $247,000. Finally, Peregrine Asset Advisers Inc. acquired a new position in Granite Construction in the third quarter worth approximately $4,616,000.

Insider Activity at Granite Construction

In related news, 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 transaction of $217,850.00. Following the sale, the chief operating officer now directly owns 28,256 shares in the company, valued at $2,462,227.84. This trade represents a 8.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 transaction of $165,138.75. Following the sale, the senior vice president now owns 13,880 shares in the company, valued at approximately $1,131,914. The trade was 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 owned by company insiders.

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Granite Construction Price Performance

Granite Construction stock traded down $2.95 during mid-day trading on Thursday, hitting $76.62. The company's stock had a trading volume of 310,928 shares, compared to its average volume of 575,234. The company has a quick ratio of 1.56, a current ratio of 1.66 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $3.33 billion, a P/E ratio of 31.02 and a beta of 1.42. Granite Construction Incorporated has a twelve month low of $52.54 and a twelve month high of $105.20. The stock's fifty day moving average price is $87.46 and its two-hundred day moving average price is $86.04.

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). Granite Construction had a net margin of 3.15% and a return on equity of 20.67%. The company had revenue of $977.30 million for the quarter. During the same quarter in the prior year, the company posted $0.82 EPS. Research analysts forecast that Granite Construction Incorporated will post 5.49 earnings per share for the current year.

Granite Construction Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 0.68%. The ex-dividend date of this dividend was Tuesday, December 31st. Granite Construction's payout ratio is presently 21.05%.

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.