Granite Construction Incorporated (NYSE:GVA - Get Free Report) was the recipient of a significant growth in short interest in the month of January. As of January 31st, there was short interest totalling 4,750,000 shares, a growth of 7.2% from the January 15th total of 4,430,000 shares. Currently, 11.0% of the shares of the company are short sold. Based on an average trading volume of 551,700 shares, the days-to-cover ratio is currently 8.6 days.
Insider Transactions at Granite Construction
In related news, COO James A. Radich sold 2,500 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $87.14, for a total value of $217,850.00. Following the sale, the chief operating officer now owns 28,256 shares in the company, valued at approximately $2,462,227.84. This trade represents a 8.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.81% of the company's stock.
Institutional Investors Weigh In On Granite Construction
Hedge funds have recently modified their holdings of the business. Illinois Municipal Retirement Fund lifted its position in Granite Construction by 0.5% during the fourth quarter. Illinois Municipal Retirement Fund now owns 23,747 shares of the construction company's stock valued at $2,083,000 after purchasing an additional 115 shares in the last quarter. Mariner LLC raised its stake in shares of Granite Construction by 1.0% in the fourth quarter. Mariner LLC now owns 12,408 shares of the construction company's stock worth $1,088,000 after buying an additional 119 shares during the period. Quarry LP lifted its position in shares of Granite Construction by 68.4% during the 4th quarter. Quarry LP now owns 325 shares of the construction company's stock valued at $29,000 after buying an additional 132 shares in the last quarter. Dorsey & Whitney Trust CO LLC grew its stake in shares of Granite Construction by 1.4% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 10,376 shares of the construction company's stock valued at $910,000 after acquiring an additional 139 shares during the period. Finally, OneDigital Investment Advisors LLC increased its holdings in Granite Construction by 3.4% in the 4th quarter. OneDigital Investment Advisors LLC now owns 4,299 shares of the construction company's stock worth $377,000 after acquiring an additional 142 shares in the last quarter.
Granite Construction Stock Performance
Shares of GVA traded down $2.42 during trading hours on Friday, hitting $82.15. The stock had a trading volume of 641,845 shares, compared to its average volume of 628,832. The firm has a market capitalization of $3.57 billion, a PE ratio of 33.26 and a beta of 1.42. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.66 and a quick ratio of 1.56. Granite Construction has a 12 month low of $48.11 and a 12 month high of $105.20. The stock has a fifty day moving average price of $89.01 and a 200 day moving average price of $85.25.
Granite Construction (NYSE:GVA - Get Free Report) last released 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). The business had revenue of $977.30 million for the quarter. Granite Construction had a net margin of 3.15% and a return on equity of 20.67%. During the same period in the prior year, the firm earned $0.82 earnings per share. Analysts anticipate that Granite Construction will post 5.49 EPS for the current year.
Granite Construction Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 0.63%. The ex-dividend date was Tuesday, December 31st. Granite Construction's dividend payout ratio is presently 21.05%.
About Granite Construction
(
Get 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.
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