Norges Bank Invests $31.86 Million in Granite Construction Incorporated (NYSE:GVA)

Norges Bank bought a new position in Granite Construction Incorporated (NYSE:GVA - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 363,180 shares of the construction company's stock, valued at approximately $31,855,000. Norges Bank owned about 0.83% of Granite Construction as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the company. EFG Asset Management North America Corp. boosted its position in Granite Construction by 86.7% in the fourth quarter. EFG Asset Management North America Corp. now owns 68,004 shares of the construction company's stock worth $5,963,000 after purchasing an additional 31,573 shares during the last quarter. EntryPoint Capital LLC purchased a new position in Granite Construction in the fourth quarter worth about $218,000. KLP Kapitalforvaltning AS purchased a new position in shares of Granite Construction during the 4th quarter valued at about $764,000. Virtu Financial LLC lifted its position 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 buying an additional 904 shares in the last quarter. Finally, Quantbot Technologies LP lifted its position in shares of Granite Construction by 635.0% during the 4th quarter. Quantbot Technologies LP now owns 33,624 shares of the construction company's stock valued at $2,949,000 after buying an additional 29,049 shares in the last quarter.

Insider Activity at Granite Construction

In other Granite Construction news, COO James A. Radich sold 2,500 shares of Granite Construction stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $87.14, for a total value of $217,850.00. Following the sale, the chief operating officer now owns 28,256 shares of the company's stock, valued at $2,462,227.84. The trade was a 8.13 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Brian R. Dowd sold 2,025 shares of the business's stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $81.55, for a total value of $165,138.75. Following the transaction, the senior vice president now directly owns 13,880 shares in the company, valued at approximately $1,131,914. This represents a 12.73 % decrease in their position. The disclosure for this sale can be found here. 0.81% of the stock is owned by corporate insiders.

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Granite Construction Stock Performance

Shares of GVA stock traded down $0.56 during trading hours on Thursday, reaching $77.04. 50,970 shares of the company traded hands, compared to its average volume of 625,262. Granite Construction Incorporated has a 12-month low of $52.99 and a 12-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 company has a market cap of $3.35 billion, a P/E ratio of 31.19 and a beta of 1.26. The firm has a 50-day moving average price of $79.48 and a 200 day moving average price of $86.05.

Granite Construction (NYSE:GVA - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The construction company reported $1.23 earnings per share for the quarter, missing analysts' consensus estimates of $1.42 by ($0.19). Granite Construction had a net margin of 3.15% and a return on equity of 20.67%. The company had revenue of $977.30 million for the quarter. During the same quarter in the prior year, the firm posted $0.82 earnings per share. As a group, sell-side analysts predict that Granite Construction Incorporated will post 5.49 earnings per share for the current fiscal year.

Granite Construction Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 0.67%. The ex-dividend date of this dividend is Monday, March 31st. Granite Construction's dividend payout ratio (DPR) is presently 21.05%.

Granite Construction Company Profile

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.