Proficio Capital Partners LLC bought a new stake in Granite Construction Incorporated (NYSE:GVA - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 36,137 shares of the construction company's stock, valued at approximately $3,170,000. Proficio Capital Partners LLC owned 0.08% of Granite Construction as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in GVA. Steward Partners Investment Advisory LLC bought a new stake in Granite Construction during the fourth quarter worth about $89,000. Smartleaf Asset Management LLC grew its stake 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 during the last quarter. US Bancorp DE grew its stake in Granite Construction by 56.4% during the fourth quarter. US Bancorp DE now owns 4,270 shares of the construction company's stock worth $375,000 after buying an additional 1,540 shares during the last quarter. Versor Investments LP bought a new stake in Granite Construction during the fourth quarter worth about $866,000. Finally, Illinois Municipal Retirement Fund grew its stake in Granite Construction by 0.5% during the fourth quarter. Illinois Municipal Retirement Fund now owns 23,747 shares of the construction company's stock worth $2,083,000 after buying an additional 115 shares during the last quarter.
Granite Construction Price Performance
Shares of GVA traded down $0.12 during mid-day trading on Friday, hitting $76.13. 1,499,753 shares of the company traded hands, compared to its average volume of 577,496. Granite Construction Incorporated has a one year low of $52.99 and a one year high of $105.20. The company has a current ratio of 1.66, a quick ratio of 1.56 and a debt-to-equity ratio of 0.68. The business has a 50-day moving average of $83.95 and a 200 day moving average of $86.02. The stock has a market capitalization of $3.31 billion, a price-to-earnings ratio of 30.82 and a beta of 1.34.
Granite Construction (NYSE:GVA - Get Free Report) last released its quarterly earnings results 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 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 business earned $0.82 earnings per share. As a group, equities analysts expect that Granite Construction Incorporated will post 5.49 earnings per share for the current fiscal year.
Granite Construction Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.52 annualized dividend and a dividend yield of 0.68%. Granite Construction's dividend payout ratio (DPR) is currently 21.05%.
Insider Activity at Granite Construction
In related news, SVP Brian R. Dowd sold 2,025 shares of the 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 $1,131,914. This represents a 12.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO James A. Radich sold 2,500 shares of the 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 transaction, the chief operating officer now owns 28,256 shares in the company, valued at $2,462,227.84. This represents a 8.13 % 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 company insiders.
Granite Construction Company Profile
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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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