William Blair Investment Management LLC Has $29.75 Million Stake in Granite Construction Incorporated (NYSE:GVA)

William Blair Investment Management LLC lifted its holdings in Granite Construction Incorporated (NYSE:GVA - Free Report) by 2.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 339,167 shares of the construction company's stock after purchasing an additional 8,230 shares during the quarter. William Blair Investment Management LLC owned 0.78% of Granite Construction worth $29,748,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of GVA. Cibc World Markets Corp acquired a new stake in shares of Granite Construction in the fourth quarter valued at $361,000. Natixis Advisors LLC lifted its holdings in shares of Granite Construction by 4.5% in the fourth quarter. Natixis Advisors LLC now owns 14,326 shares of the construction company's stock valued at $1,257,000 after buying an additional 614 shares during the period. Commonwealth Equity Services LLC lifted its holdings in shares of Granite Construction by 3.8% in the fourth quarter. Commonwealth Equity Services LLC now owns 6,055 shares of the construction company's stock valued at $531,000 after buying an additional 223 shares during the period. RPg Family Wealth Advisory LLC lifted its holdings in shares of Granite Construction by 4.5% in the fourth quarter. RPg Family Wealth Advisory LLC now owns 54,789 shares of the construction company's stock valued at $4,813,000 after buying an additional 2,364 shares during the period. Finally, HighTower Advisors LLC lifted its holdings in shares of Granite Construction by 10.9% in the fourth quarter. HighTower Advisors LLC now owns 16,731 shares of the construction company's stock valued at $1,467,000 after buying an additional 1,639 shares during the period.

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Granite Construction Price Performance

Shares of Granite Construction stock traded down $0.12 during trading on Friday, hitting $76.13. The stock had a trading volume of 1,499,753 shares, compared to its average volume of 577,496. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.66 and a quick ratio of 1.56. The firm has a market cap of $3.31 billion, a P/E ratio of 30.82 and a beta of 1.34. The business has a fifty day moving average of $83.95 and a two-hundred day moving average of $86.02. Granite Construction Incorporated has a fifty-two week low of $52.99 and a fifty-two week 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 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 period last year, the company posted $0.82 earnings per share. On average, sell-side analysts expect 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. Stockholders of record on Monday, March 31st will be issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 0.68%. The ex-dividend date of this dividend is Monday, March 31st. Granite Construction's dividend payout ratio is 21.05%.

Insider Activity

In related news, COO James A. Radich sold 2,500 shares of the 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 sale, the chief operating officer now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Brian R. Dowd sold 2,025 shares of the stock in a transaction dated 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 of the company's stock, valued at approximately $1,131,914. This 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 company insiders.

Granite Construction Company 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.