Victory Capital Management Inc. reduced its stake in shares of Granite Construction Incorporated (NYSE:GVA - Free Report) by 37.4% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 141,755 shares of the construction company's stock after selling 84,708 shares during the period. Victory Capital Management Inc. owned approximately 0.32% of Granite Construction worth $12,433,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GVA. US Bancorp DE grew its position in Granite Construction by 77.5% during the 3rd 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 during the period. Crossmark Global Holdings Inc. acquired a new stake in Granite Construction during the 3rd quarter worth about $247,000. Entropy Technologies LP acquired a new stake in Granite Construction during the 3rd quarter worth about $408,000. CIBC Asset Management Inc acquired a new stake in Granite Construction during the 3rd quarter worth about $214,000. Finally, Mizuho Markets Americas LLC grew its position in Granite Construction by 2.5% during the 3rd quarter. Mizuho Markets Americas LLC now owns 596,158 shares of the construction company's stock worth $47,263,000 after purchasing an additional 14,716 shares during the period.
Granite Construction Price Performance
Shares of NYSE:GVA traded up $1.58 during trading on Friday, reaching $74.00. 576,639 shares of the company's stock traded hands, compared to its average volume of 567,927. Granite Construction Incorporated has a fifty-two week low of $52.99 and a fifty-two week high of $105.20. 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 firm has a market cap of $3.21 billion, a PE ratio of 29.96 and a beta of 1.34. The company has a 50-day simple moving average of $85.29 and a 200-day simple moving average of $86.09.
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 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 business had revenue of $977.30 million for the quarter. During the same quarter in the previous year, the business earned $0.82 EPS. As a group, analysts predict that Granite Construction Incorporated will post 5.49 earnings per share for the current year.
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 transaction, the senior vice president now directly owns 13,880 shares of the company's stock, valued at $1,131,914. This trade represents a 12.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO James A. Radich sold 2,500 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $87.14, for a total transaction of $217,850.00. Following the completion of the transaction, 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 disclosure for this sale can be found here. Insiders own 0.81% of the company's stock.
Granite Construction Profile
(
Free Report)
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.
See Also
Before you consider Granite Construction, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Granite Construction wasn't on the list.
While Granite Construction currently has a Sell rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
