Granite Construction Incorporated (NYSE:GVA) Shares Sold by Connable Office Inc.

Connable Office Inc. lessened its holdings in shares of Granite Construction Incorporated (NYSE:GVA) by 6.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,067 shares of the construction company’s stock after selling 217 shares during the period. Connable Office Inc.’s holdings in Granite Construction were worth $269,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. KBC Group NV grew its holdings in Granite Construction by 26.6% during 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 during the period. GAMMA Investing LLC grew its holdings 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 period. Point72 DIFC Ltd acquired a new position in Granite Construction during the third quarter worth $203,000. R Squared Ltd acquired a new position in Granite Construction during the fourth quarter worth $211,000. Finally, CIBC Asset Management Inc acquired a new position in Granite Construction during the third quarter worth $214,000.

Granite Construction Stock Up 1.5 %

GVA opened at $82.51 on Friday. The business’s fifty day moving average is $88.26 and its two-hundred day moving average is $85.61. 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 company has a market cap of $3.58 billion, a price-to-earnings ratio of 33.40 and a beta of 1.42. Granite Construction Incorporated has a one year low of $50.81 and a one year high of $105.20.

Granite Construction (NYSE:GVA) last posted its earnings results on Thursday, February 13th. The construction company reported $1.23 EPS for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.19). The firm 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 last year, the firm posted $0.82 EPS. Analysts anticipate that Granite Construction Incorporated will post 5.49 EPS for the current fiscal year.

Granite Construction Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given 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 payout ratio is 21.05%.

Insiders Place Their Bets

In other news, SVP Brian R. Dowd sold 2,025 shares of the company’s stock in a transaction 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 sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO James A. Radich sold 2,500 shares of the company’s stock in a transaction on 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 owns 28,256 shares in the company, valued at $2,462,227.84. This represents 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 company insiders.

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.