KLP Kapitalforvaltning AS acquired a new position in shares of Granite Construction Incorporated (NYSE:GVA - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 8,700 shares of the construction company's stock, valued at approximately $764,000.
Several other institutional investors and hedge funds have also added to or reduced their stakes in GVA. Virtu Financial LLC boosted its holdings in shares of Granite Construction by 25.4% during the 4th quarter. Virtu Financial LLC now owns 4,468 shares of the construction company's stock valued at $392,000 after acquiring an additional 904 shares in the last quarter. Quantbot Technologies LP lifted its holdings in shares of Granite Construction by 635.0% during the fourth quarter. Quantbot Technologies LP now owns 33,624 shares of the construction company's stock worth $2,949,000 after purchasing an additional 29,049 shares during the period. Magnetar Financial LLC bought a new stake in shares of Granite Construction in the fourth quarter worth $510,000. Teacher Retirement System of Texas lifted its holdings in Granite Construction by 35.2% during the 4th quarter. Teacher Retirement System of Texas now owns 26,319 shares of the construction company's stock worth $2,308,000 after buying an additional 6,852 shares during the period. Finally, Xponance Inc. raised its position in shares of Granite Construction by 9.9% during the fourth quarter. Xponance Inc. now owns 3,168 shares of the construction company's stock worth $278,000 after acquiring an additional 285 shares during the last quarter.
Granite Construction Trading Down 4.1 %
Shares of NYSE GVA traded down $3.09 during midday trading on Friday, reaching $71.85. The stock had a trading volume of 1,348,404 shares, compared to its average volume of 619,996. Granite Construction Incorporated has a twelve month low of $52.99 and a twelve month high of $105.20. The company's 50 day moving average price is $80.79 and its 200 day moving average price is $86.28. The firm has a market cap of $3.12 billion, a price-to-earnings ratio of 29.09 and a beta of 1.26. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.56 and a current ratio of 1.66.
Granite Construction (NYSE:GVA - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The construction company reported $1.23 EPS for the quarter, missing the consensus estimate of $1.42 by ($0.19). Granite Construction had a return on equity of 20.67% and a net margin of 3.15%. The company had revenue of $977.30 million for the quarter. During the same period last year, the business posted $0.82 earnings per share. As a group, sell-side analysts expect that Granite Construction Incorporated will post 5.49 EPS for the current 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 paid a $0.13 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.52 annualized dividend and a dividend yield of 0.72%. Granite Construction's dividend payout ratio is presently 21.05%.
Insider Activity at Granite Construction
In other news, COO James A. Radich sold 2,500 shares of the business'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 sale, the chief operating officer now owns 28,256 shares in the company, valued at $2,462,227.84. The trade was a 8.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Brian R. Dowd sold 2,025 shares of the stock in a transaction on Friday, February 28th. The stock was sold at an average price of $81.55, for a total value 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 currently owned by corporate insiders.
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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