State of New Jersey Common Pension Fund D lowered its stake in shares of Granite Construction Incorporated (NYSE:GVA - Free Report) by 20.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 21,525 shares of the construction company's stock after selling 5,451 shares during the period. State of New Jersey Common Pension Fund D's holdings in Granite Construction were worth $1,888,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Blue Trust Inc. raised its stake in Granite Construction by 66.4% during the third quarter. Blue Trust Inc. now owns 902 shares of the construction company's stock worth $72,000 after purchasing an additional 360 shares during the period. KBC Group NV increased its holdings in shares of Granite Construction by 26.6% during the 4th quarter. KBC Group NV now owns 1,751 shares of the construction company's stock worth $154,000 after buying an additional 368 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Granite Construction by 8.5% during the 4th quarter. GAMMA Investing LLC now owns 2,178 shares of the construction company's stock valued at $191,000 after buying an additional 171 shares during the period. R Squared Ltd acquired a new position in Granite Construction in the fourth quarter valued at approximately $211,000. Finally, Precision Wealth Strategies LLC purchased a new position in Granite Construction in the fourth quarter worth approximately $215,000.
Insider Activity at Granite Construction
In other news, COO James A. Radich sold 2,500 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $87.14, for a total value of $217,850.00. Following the transaction, the chief operating officer now owns 28,256 shares in the company, valued at approximately $2,462,227.84. This represents a 8.13 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.81% of the stock is currently owned by company insiders.
Granite Construction Trading Up 1.5 %
GVA stock traded up $1.22 during mid-day trading on Friday, hitting $82.51. 567,384 shares of the company were exchanged, compared to its average volume of 581,087. Granite Construction Incorporated has a 12-month low of $50.81 and a 12-month high of $105.20. The firm has a market capitalization of $3.58 billion, a P/E ratio of 33.40 and a beta of 1.42. The business has a fifty day simple moving average of $88.26 and a 200-day simple moving average of $85.61. The company has a quick ratio of 1.56, a current ratio of 1.66 and a debt-to-equity ratio of 0.68.
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 (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 firm had revenue of $977.30 million during the quarter. During the same quarter in the previous year, the company earned $0.82 EPS. On average, equities research analysts predict that Granite Construction Incorporated will post 5.49 earnings per share for the current fiscal year.
Granite Construction Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.13 per share. The ex-dividend date was Tuesday, December 31st. This represents a $0.52 dividend on an annualized basis and a yield of 0.63%. Granite Construction's dividend payout ratio (DPR) is presently 21.05%.
Granite Construction Company Profile
(
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.
Featured Stories
Before you consider Granite Construction, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Granite Construction wasn't on the list.
While Granite Construction currently has a Sell rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
