Principal Financial Group Inc. Has $18.69 Million Stock Position in Granite Construction Incorporated (NYSE:GVA)

Principal Financial Group Inc. increased its stake in Granite Construction Incorporated (NYSE:GVA - Free Report) by 3.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 213,100 shares of the construction company's stock after purchasing an additional 6,275 shares during the quarter. Principal Financial Group Inc. owned about 0.49% of Granite Construction worth $18,691,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. New York State Teachers Retirement System lifted its stake in shares of Granite Construction by 4.0% in the 4th quarter. New York State Teachers Retirement System now owns 69,359 shares of the construction company's stock worth $6,083,000 after acquiring an additional 2,689 shares during the period. Asset Management One Co. Ltd. acquired a new stake in Granite Construction in the fourth quarter worth approximately $4,963,000. Certuity LLC acquired a new stake in Granite Construction in the fourth quarter worth approximately $232,000. Entropy Technologies LP boosted its stake in Granite Construction by 299.2% during the 4th quarter. Entropy Technologies LP now owns 20,551 shares of the construction company's stock valued at $1,803,000 after purchasing an additional 15,403 shares in the last quarter. Finally, Golden State Wealth Management LLC acquired a new position in shares of Granite Construction during the 4th quarter valued at $384,000.

Insider Activity

In other news, COO James A. Radich sold 2,500 shares of the business'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 sale, the chief operating officer now directly owns 28,256 shares of the company's stock, valued at $2,462,227.84. The trade was a 8.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.81% of the company's stock.

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Granite Construction Price Performance

Shares of Granite Construction stock traded up $1.22 during trading on Friday, hitting $82.51. The stock had a trading volume of 567,384 shares, compared to its average volume of 581,087. The business has a fifty day moving average of $88.26 and a two-hundred day moving average of $85.61. The firm has a market cap of $3.58 billion, a P/E ratio of 33.40 and a beta of 1.42. Granite Construction Incorporated has a fifty-two week low of $50.81 and a fifty-two week 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.

Granite Construction (NYSE:GVA - Get Free Report) last announced its quarterly earnings data 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). Granite Construction had a return on equity of 20.67% and a net margin of 3.15%. The business had revenue of $977.30 million during the quarter. During the same quarter in the prior year, the company earned $0.82 earnings per share. On average, sell-side analysts expect that Granite Construction Incorporated will post 5.49 earnings per share for the current fiscal year.

Granite Construction Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.63%. Granite Construction's dividend payout ratio (DPR) is presently 21.05%.

Granite Construction 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.