Victory Capital Management Inc. Sells 84,708 Shares of Granite Construction Incorporated (NYSE:GVA)

Victory Capital Management Inc. decreased its position in Granite Construction Incorporated (NYSE:GVA - Free Report) by 37.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 141,755 shares of the construction company's stock after selling 84,708 shares during the quarter. Victory Capital Management Inc. owned approximately 0.32% of Granite Construction worth $12,433,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in GVA. Steward Partners Investment Advisory LLC bought a new position in Granite Construction in the 4th quarter valued at $89,000. Smartleaf Asset Management LLC boosted its stake 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 valued at $119,000 after acquiring an additional 887 shares during the last quarter. KBC Group NV grew its position in shares of Granite Construction by 26.6% during the 4th 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 period. GAMMA Investing LLC increased its stake in shares of Granite Construction by 8.5% during the 4th quarter. GAMMA Investing LLC now owns 2,178 shares of the construction company's stock worth $191,000 after purchasing an additional 171 shares during the last quarter. Finally, Point72 DIFC Ltd bought a new stake in shares of Granite Construction in the 3rd quarter worth approximately $203,000.

Insider Activity

In other Granite Construction news, SVP Brian R. Dowd sold 2,025 shares of the company's stock in a transaction that occurred 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 owns 13,880 shares of the company's stock, valued at $1,131,914. This represents a 12.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO James A. Radich sold 2,500 shares of the 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 of the company's stock, valued at $2,462,227.84. The trade was a 8.13 % decrease in their position. 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 Stock Performance

GVA traded up $1.23 on Friday, hitting $73.65. The company's stock had a trading volume of 175,675 shares, compared to its average volume of 638,807. The company's 50 day simple moving average is $85.59 and its 200-day simple moving average is $86.00. The company has a quick ratio of 1.56, a current ratio of 1.66 and a debt-to-equity ratio of 0.68. Granite Construction Incorporated has a 12 month low of $52.99 and a 12 month high of $105.20. The firm has a market cap of $3.20 billion, a P/E ratio of 29.82 and a beta of 1.34.

Granite Construction (NYSE:GVA - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The construction company reported $1.23 earnings per share 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 during the quarter. During the same period in the previous year, the business posted $0.82 EPS. Analysts forecast that Granite Construction Incorporated will post 5.49 EPS for the current year.

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.