Vanguard Group Inc. Sells 43,025 Shares of Granite Construction Incorporated (NYSE:GVA)

Vanguard Group Inc. trimmed its holdings in shares of Granite Construction Incorporated (NYSE:GVA - Free Report) by 0.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,874,003 shares of the construction company's stock after selling 43,025 shares during the quarter. Vanguard Group Inc. owned approximately 11.15% of Granite Construction worth $427,499,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in GVA. HighTower Advisors LLC grew its position in shares of Granite Construction by 176.4% during the 3rd quarter. HighTower Advisors LLC now owns 15,092 shares of the construction company's stock valued at $1,199,000 after acquiring an additional 9,631 shares during the period. Fiduciary Financial Group LLC bought a new stake in Granite Construction during the fourth quarter valued at about $545,000. Pacer Advisors Inc. purchased a new stake in Granite Construction in the fourth quarter worth about $92,154,000. Teacher Retirement System of Texas increased its position in Granite Construction by 35.2% in the fourth quarter. Teacher Retirement System of Texas now owns 26,319 shares of the construction company's stock worth $2,308,000 after buying an additional 6,852 shares in the last quarter. Finally, Hennessy Advisors Inc. bought a new position in shares of Granite Construction in the fourth quarter worth about $61,046,000.

Granite Construction Stock Performance

Shares of NYSE:GVA traded down $3.09 during mid-day trading on Friday, reaching $71.85. 1,348,404 shares of the company traded hands, compared to its average volume of 619,996. The company's 50 day moving average price is $80.79 and its 200-day moving average price is $86.34. The firm has a market cap of $3.12 billion, a PE ratio of 29.09 and a beta of 1.26. Granite Construction Incorporated has a 52 week low of $52.99 and a 52 week high of $105.20. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.66 and a quick ratio of 1.56.

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Granite Construction (NYSE:GVA - Get Free Report) last announced its quarterly earnings data 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). The firm had revenue of $977.30 million during the quarter. Granite Construction had a return on equity of 20.67% and a net margin of 3.15%. During the same period in the previous year, the business posted $0.82 earnings per share. On average, equities analysts expect that Granite Construction Incorporated will post 5.49 EPS for the current fiscal year.

Granite Construction Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a $0.13 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.52 annualized dividend and a dividend yield of 0.72%. Granite Construction's payout ratio is 21.05%.

Insider Transactions at Granite Construction

In other Granite Construction news, SVP Brian R. Dowd sold 2,025 shares of the company's stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $81.55, for a total value of $165,138.75. Following the completion of 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 position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO James A. Radich sold 2,500 shares of Granite Construction 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 sale, the chief operating officer now owns 28,256 shares in the company, valued at approximately $2,462,227.84. The trade was a 8.13 % decrease in their position. The disclosure for this sale can be found here. Corporate 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.