Proficio Capital Partners LLC Invests $3.17 Million in Granite Construction Incorporated (NYSE:GVA)

Proficio Capital Partners LLC bought a new position in shares of Granite Construction Incorporated (NYSE:GVA - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 36,137 shares of the construction company's stock, valued at approximately $3,170,000. Proficio Capital Partners LLC owned about 0.08% of Granite Construction at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Pacer Advisors Inc. bought a new stake in Granite Construction during the 4th quarter worth approximately $92,154,000. Hill City Capital LP lifted its position in shares of Granite Construction by 5.2% in the 3rd quarter. Hill City Capital LP now owns 978,938 shares of the construction company's stock worth $77,610,000 after purchasing an additional 48,440 shares during the period. Hennessy Advisors Inc. acquired a new position in shares of Granite Construction in the 4th quarter worth approximately $61,046,000. Systematic Financial Management LP lifted its position in shares of Granite Construction by 3.2% in the 3rd quarter. Systematic Financial Management LP now owns 604,950 shares of the construction company's stock worth $47,960,000 after purchasing an additional 18,586 shares during the period. Finally, Mizuho Markets Americas LLC lifted its position in shares of Granite Construction by 2.5% in the 3rd quarter. Mizuho Markets Americas LLC now owns 596,158 shares of the construction company's stock worth $47,263,000 after purchasing an additional 14,716 shares during the period.

Granite Construction Trading Down 3.0 %

Shares of NYSE GVA traded down $2.29 during midday trading on Friday, reaching $73.87. The stock had a trading volume of 1,585,724 shares, compared to its average volume of 611,853. The firm has a market cap of $3.21 billion, a price-to-earnings ratio of 29.91 and a beta of 1.34. Granite Construction Incorporated has a twelve month low of $52.88 and a twelve month high of $105.20. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.56 and a current ratio of 1.66. The company's 50 day moving average price is $86.87 and its 200 day moving average price is $85.99.

Remove Ads

Granite Construction (NYSE:GVA - Get Free Report) last released its earnings results on Thursday, February 13th. The construction company reported $1.23 earnings per share (EPS) 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 previous year, the firm earned $0.82 EPS. 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 business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors 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 0.70%. Granite Construction's payout ratio is presently 21.05%.

Insider Activity at Granite Construction

In other Granite Construction news, SVP Brian R. Dowd sold 2,025 shares of the business'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 sale, the senior vice president now owns 13,880 shares in the company, valued at approximately $1,131,914. The trade was a 12.73 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO James A. Radich sold 2,500 shares of the business's stock in a transaction 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 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 disclosure for this sale can be found here. 0.81% of the stock is owned by corporate insiders.

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.