Intech Investment Management LLC grew its holdings in Granite Construction Incorporated (NYSE:GVA - Free Report) by 155.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 42,215 shares of the construction company's stock after purchasing an additional 25,666 shares during the quarter. Intech Investment Management LLC owned 0.10% of Granite Construction worth $3,703,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Advisors Asset Management Inc. grew its stake in shares of Granite Construction by 15.9% in the fourth quarter. Advisors Asset Management Inc. now owns 106,602 shares of the construction company's stock worth $9,350,000 after acquiring an additional 14,651 shares in the last quarter. William Blair Investment Management LLC boosted its holdings in Granite Construction by 2.5% in the fourth quarter. William Blair Investment Management LLC now owns 339,167 shares of the construction company's stock valued at $29,748,000 after purchasing an additional 8,230 shares during the period. Cibc World Markets Corp acquired a new position in Granite Construction during the 4th quarter worth $361,000. Natixis Advisors LLC raised its position in Granite Construction by 4.5% in the 4th quarter. Natixis Advisors LLC now owns 14,326 shares of the construction company's stock valued at $1,257,000 after purchasing an additional 614 shares in the last quarter. Finally, Commonwealth Equity Services LLC boosted its stake in shares of Granite Construction by 3.8% in the 4th 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.
Insider Activity
In related news, SVP Brian R. Dowd sold 2,025 shares of the stock in a transaction on Friday, February 28th. The shares were sold at an average price of $81.55, for a total transaction of $165,138.75. Following the completion of the sale, the senior vice president now owns 13,880 shares in the company, valued at $1,131,914. This represents a 12.73 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO James A. Radich sold 2,500 shares of Granite Construction 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 completion of the transaction, the chief operating officer now owns 28,256 shares in the company, valued at approximately $2,462,227.84. This represents a 8.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.81% of the company's stock.
Granite Construction Stock Up 1.8 %
NYSE GVA traded up $1.39 on Monday, hitting $77.59. 843,482 shares of the stock were exchanged, compared to its average volume of 579,331. 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 50-day moving average price of $83.95 and a 200-day moving average price of $86.21. The company has a market cap of $3.37 billion, a PE ratio of 31.41 and a beta of 1.34. 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 (NYSE:GVA - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The construction company reported $1.23 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.42 by ($0.19). The business had revenue of $977.30 million during the quarter. Granite Construction had a net margin of 3.15% and a return on equity of 20.67%. During the same period last year, the business earned $0.82 earnings per share. Sell-side analysts anticipate that Granite Construction Incorporated will post 5.49 EPS for the current fiscal year.
Granite Construction Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date of this dividend is Monday, March 31st. Granite Construction's dividend payout ratio (DPR) is currently 21.05%.
About Granite Construction
(
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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