LPL Financial LLC reduced its holdings in Granite Construction Incorporated (NYSE:GVA - Free Report) by 15.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 44,739 shares of the construction company's stock after selling 7,956 shares during the period. LPL Financial LLC owned approximately 0.10% of Granite Construction worth $3,924,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Steward Partners Investment Advisory LLC acquired a new position in Granite Construction during the 4th quarter valued at $89,000. Smartleaf Asset Management LLC grew its position in 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 increased its stake in Granite Construction by 26.6% during the fourth quarter. KBC Group NV now owns 1,751 shares of the construction company's stock valued at $154,000 after acquiring an additional 368 shares during the period. GAMMA Investing LLC raised its holdings 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, R Squared Ltd acquired a new stake in shares of Granite Construction during the 4th quarter worth approximately $211,000.
Granite Construction Stock Performance
Shares of NYSE GVA traded down $0.13 during trading hours on Tuesday, reaching $77.69. The stock had a trading volume of 252,647 shares, compared to its average volume of 629,408. Granite Construction Incorporated has a twelve month low of $52.99 and a twelve month high of $105.20. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.66 and a quick ratio of 1.56. The business's fifty day moving average is $78.92 and its two-hundred day moving average is $86.06. The company has a market cap of $3.37 billion, a price-to-earnings ratio of 31.45 and a beta of 1.26.
Granite Construction (NYSE:GVA - Get Free Report) last posted 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 business had revenue of $977.30 million during the quarter. Granite Construction had a return on equity of 20.67% and a net margin of 3.15%. During the same period in the previous year, the business earned $0.82 earnings per share. As a group, research analysts expect that Granite Construction Incorporated will post 5.49 EPS for the current year.
Granite Construction Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.13 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.67%. Granite Construction's payout ratio is presently 21.05%.
Insider Activity
In other 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 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 approximately $2,462,227.84. This trade represents a 8.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Brian R. Dowd sold 2,025 shares of the stock in a transaction that occurred 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 sale, the senior vice president now owns 13,880 shares in the company, valued at approximately $1,131,914. This trade 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 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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