Teacher Retirement System of Texas Grows Stock Holdings in Granite Construction Incorporated (NYSE:GVA)

Teacher Retirement System of Texas lifted its holdings in Granite Construction Incorporated (NYSE:GVA - Free Report) by 35.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 26,319 shares of the construction company's stock after purchasing an additional 6,852 shares during the quarter. Teacher Retirement System of Texas owned 0.06% of Granite Construction worth $2,308,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Steward Partners Investment Advisory LLC purchased a new position in shares of Granite Construction in the 4th quarter worth $89,000. Smartleaf Asset Management LLC lifted its holdings 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 acquiring an additional 887 shares during the last quarter. KBC Group NV grew its position in Granite Construction by 26.6% in the fourth quarter. KBC Group NV now owns 1,751 shares of the construction company's stock worth $154,000 after acquiring an additional 368 shares in the last quarter. GAMMA Investing LLC increased its stake in Granite Construction by 8.5% during the fourth quarter. GAMMA Investing LLC now owns 2,178 shares of the construction company's stock worth $191,000 after acquiring an additional 171 shares during the last quarter. Finally, R Squared Ltd purchased a new stake in Granite Construction during the fourth quarter valued at approximately $211,000.

Granite Construction Trading Down 0.6 %

Shares of Granite Construction stock traded down $0.46 on Friday, reaching $75.15. The company had a trading volume of 392,218 shares, compared to its average volume of 611,853. The firm has a market cap of $3.26 billion, a price-to-earnings ratio of 30.42 and a beta of 1.34. 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 firm's 50-day moving average price is $82.57 and its two-hundred day moving average price is $86.38. Granite Construction Incorporated has a 1 year low of $52.99 and a 1 year high of $105.20.

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Granite Construction (NYSE:GVA - Get Free Report) last posted its quarterly earnings data 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 return on equity of 20.67% and a net margin of 3.15%. The firm had revenue of $977.30 million for the quarter. During the same period last year, the firm earned $0.82 earnings per share. As a group, 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 disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date of this dividend is Monday, March 31st. Granite Construction's payout ratio is currently 21.05%.

Insiders Place Their Bets

In other Granite Construction news, COO James A. Radich sold 2,500 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $87.14, for a total transaction of $217,850.00. Following the transaction, the chief operating officer now directly owns 28,256 shares in the company, valued at $2,462,227.84. This represents a 8.13 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $165,138.75. Following the transaction, the senior vice president now owns 13,880 shares in the company, valued at approximately $1,131,914. This represents a 12.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.81% of the company's stock.

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.