Integrated Quantitative Investments LLC Invests $1.42 Million in Granite Construction Incorporated (NYSE:GVA)

Integrated Quantitative Investments LLC acquired a new position in shares of Granite Construction Incorporated (NYSE:GVA - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 16,228 shares of the construction company's stock, valued at approximately $1,423,000. Granite Construction accounts for 0.7% of Integrated Quantitative Investments LLC's portfolio, making the stock its 15th largest position.

Several other institutional investors have also added to or reduced their stakes in the stock. Steward Partners Investment Advisory LLC acquired a new stake in shares of Granite Construction in the 4th quarter valued at about $89,000. Smartleaf Asset Management LLC grew its holdings in shares of Granite Construction by 193.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,345 shares of the construction company's stock worth $119,000 after buying an additional 887 shares in the last quarter. KBC Group NV raised its position in Granite Construction by 26.6% in the 4th quarter. KBC Group NV now owns 1,751 shares of the construction company's stock valued at $154,000 after buying an additional 368 shares during the last quarter. GAMMA Investing LLC lifted its stake in Granite Construction by 8.5% in the 4th quarter. GAMMA Investing LLC now owns 2,178 shares of the construction company's stock valued at $191,000 after acquiring an additional 171 shares in the last quarter. Finally, Point72 DIFC Ltd acquired a new position in Granite Construction during the 3rd quarter worth approximately $203,000.

Granite Construction Stock Up 2.8 %

Shares of NYSE GVA traded up $2.01 during midday trading on Wednesday, reaching $73.93. The company's stock had a trading volume of 246,219 shares, compared to its average volume of 675,344. The stock has a 50 day simple moving average of $79.92 and a 200-day simple moving average of $86.12. The company has a current ratio of 1.66, a quick ratio of 1.56 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $3.21 billion, a price-to-earnings ratio of 30.04 and a beta of 1.26. Granite Construction Incorporated has a fifty-two week low of $52.99 and a fifty-two week high of $105.20.

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Granite Construction (NYSE:GVA - Get Free Report) last issued 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 company 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 previous year, the business earned $0.82 earnings per share. Equities research analysts predict that Granite Construction Incorporated will post 5.49 earnings per share for the current year.

Granite Construction Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.52 annualized dividend and a dividend yield of 0.70%. Granite Construction's dividend payout ratio is presently 21.05%.

Insider Activity

In other Granite Construction news, COO James A. Radich sold 2,500 shares of the firm's stock in a transaction 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 sale, the chief operating officer now owns 28,256 shares of the company's stock, valued at $2,462,227.84. This trade represents a 8.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Brian R. Dowd sold 2,025 shares of the company's 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 transaction, the senior vice president now owns 13,880 shares in the company, valued at approximately $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 owned by insiders.

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.