Heartland Advisors Inc. Has $8 Million Position in Granite Construction Incorporated (NYSE:GVA)

Heartland Advisors Inc. decreased its position in Granite Construction Incorporated (NYSE:GVA - Free Report) by 15.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 91,231 shares of the construction company's stock after selling 16,331 shares during the quarter. Heartland Advisors Inc. owned 0.21% of Granite Construction worth $8,002,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Steward Partners Investment Advisory LLC bought a new stake in Granite Construction during the fourth quarter worth about $89,000. Smartleaf Asset Management LLC boosted its holdings in shares of Granite Construction by 193.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,345 shares of the construction company's stock worth $119,000 after acquiring an additional 887 shares in the last quarter. KBC Group NV grew its position in Granite Construction by 26.6% during the 4th quarter. KBC Group NV now owns 1,751 shares of the construction company's stock worth $154,000 after acquiring an additional 368 shares during the last quarter. GAMMA Investing LLC increased its holdings in Granite Construction by 8.5% during the 4th quarter. GAMMA Investing LLC now owns 2,178 shares of the construction company's stock valued at $191,000 after purchasing an additional 171 shares in the last quarter. Finally, Point72 DIFC Ltd acquired a new stake in Granite Construction during the 3rd quarter valued at $203,000.

Insider Buying and Selling

In related news, COO James A. Radich sold 2,500 shares of the firm's 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 transaction, the chief operating officer now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Brian R. Dowd sold 2,025 shares of the business's 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 sale, the senior vice president now directly 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 disclosure for this sale can be found here. 0.81% of the stock is currently owned by corporate insiders.

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Granite Construction Price Performance

Granite Construction stock traded up $1.92 on Wednesday, reaching $78.25. The company's stock had a trading volume of 113,775 shares, compared to its average volume of 610,630. The business's fifty day moving average price is $81.86 and its 200 day moving average price is $86.39. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.56 and a current ratio of 1.66. The company has a market cap of $3.40 billion, a price-to-earnings ratio of 31.68 and a beta of 1.34. Granite Construction Incorporated has a twelve month low of $52.99 and a twelve month high of $105.20.

Granite Construction (NYSE:GVA - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The construction company reported $1.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.42 by ($0.19). The company had revenue of $977.30 million for the quarter. Granite Construction had a return on equity of 20.67% and a net margin of 3.15%. During the same quarter last year, the business posted $0.82 EPS. Equities analysts expect that Granite Construction Incorporated will post 5.49 earnings per share for the current fiscal year.

Granite Construction Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date of this dividend is Monday, March 31st. Granite Construction's dividend payout ratio is currently 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.