Sterling Capital Management LLC boosted its holdings in shares of Granite Construction Incorporated (NYSE:GVA - Free Report) by 6,861.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,525 shares of the construction company's stock after buying an additional 4,460 shares during the quarter. Sterling Capital Management LLC's holdings in Granite Construction were worth $397,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Federated Hermes Inc. purchased a new stake in Granite Construction during the fourth quarter worth $26,000. Aster Capital Management DIFC Ltd boosted its stake in shares of Granite Construction by 112.8% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 900 shares of the construction company's stock worth $79,000 after acquiring an additional 477 shares in the last quarter. Steward Partners Investment Advisory LLC acquired a new stake in shares of Granite Construction during the 4th quarter valued at about $89,000. Smartleaf Asset Management LLC increased its stake in shares of Granite Construction by 193.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,345 shares of the construction company's stock valued at $119,000 after purchasing an additional 887 shares in the last quarter. Finally, KBC Group NV raised its holdings in Granite Construction by 26.6% in the 4th quarter. KBC Group NV now owns 1,751 shares of the construction company's stock worth $154,000 after purchasing an additional 368 shares during the period.
Granite Construction Price Performance
NYSE GVA traded up $1.85 on Thursday, hitting $79.84. The company had a trading volume of 215,611 shares, compared to its average volume of 673,499. 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's fifty day moving average price is $77.42 and its 200-day moving average price is $85.84. The company has a market capitalization of $3.47 billion, a PE ratio of 32.32 and a beta of 1.26. Granite Construction Incorporated has a 12-month low of $53.54 and a 12-month high of $105.20.
Granite Construction (NYSE:GVA - Get Free Report) last released 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). The company had revenue of $977.30 million for the quarter. Granite Construction had a return on equity of 20.67% and a net margin of 3.15%. During the same quarter in the prior year, the business earned $0.82 earnings per share. As a group, analysts predict that Granite Construction Incorporated will post 5.49 earnings per share for the current year.
Granite Construction Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 0.65%. The ex-dividend date of this dividend was Monday, March 31st. Granite Construction's payout ratio is 21.05%.
Insider Buying and Selling
In other news, 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 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 filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO James A. Radich sold 2,500 shares of the business's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $87.14, for a total value of $217,850.00. Following the completion of 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 disclosure for this sale can be found here. 0.81% of the stock is owned by 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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