Cannell & Spears LLC Has $5.26 Million Stock Holdings in Granite Construction Incorporated (NYSE:GVA)

Cannell & Spears LLC trimmed its holdings in shares of Granite Construction Incorporated (NYSE:GVA) by 2.9% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 59,913 shares of the construction company’s stock after selling 1,766 shares during the period. Cannell & Spears LLC owned approximately 0.14% of Granite Construction worth $5,255,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the business. HighTower Advisors LLC lifted its stake in Granite Construction by 176.4% during the third quarter. HighTower Advisors LLC now owns 15,092 shares of the construction company’s stock worth $1,199,000 after purchasing an additional 9,631 shares during the period. Fiduciary Financial Group LLC bought a new position in shares of Granite Construction during the 4th quarter worth approximately $545,000. Pacer Advisors Inc. acquired a new stake in Granite Construction in the 4th quarter valued at $92,154,000. Teacher Retirement System of Texas boosted its stake in Granite Construction by 35.2% in the 4th quarter. Teacher Retirement System of Texas now owns 26,319 shares of the construction company’s stock valued at $2,308,000 after buying an additional 6,852 shares in the last quarter. Finally, Hennessy Advisors Inc. bought a new stake in Granite Construction in the fourth quarter valued at $61,046,000.

Granite Construction Stock Up 0.3 %

Shares of NYSE GVA opened at $75.43 on Tuesday. 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 quick ratio of 1.56 and a current ratio of 1.66. The business has a fifty day moving average of $82.23 and a two-hundred day moving average of $86.39. The stock has a market cap of $3.28 billion, a PE ratio of 30.54 and a beta of 1.34.

Granite Construction (NYSE:GVA) last announced its quarterly earnings results 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). The firm had revenue of $977.30 million for the quarter. Granite Construction had a net margin of 3.15% and a return on equity of 20.67%. During the same period in the prior year, the company earned $0.82 earnings per share. As a group, equities research analysts expect that Granite Construction Incorporated will post 5.49 earnings per share for the current fiscal year.

Granite Construction Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.52 dividend on an annualized basis and a yield of 0.69%. Granite Construction’s dividend payout ratio (DPR) is presently 21.05%.

Insider Activity at Granite Construction

In other news, COO James A. Radich sold 2,500 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was 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 in the company, valued at approximately $2,462,227.84. This trade represents a 8.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Brian R. Dowd sold 2,025 shares of Granite Construction stock in a transaction dated Friday, February 28th. The shares were 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 of the company’s stock, valued at $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.