Granite Construction Incorporated (NYSE:GVA) Shares Sold by Investors Research Corp

Investors Research Corp cut its stake in shares of Granite Construction Incorporated (NYSE:GVA) by 69.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,744 shares of the construction company’s stock after selling 6,200 shares during the quarter. Investors Research Corp’s holdings in Granite Construction were worth $241,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in GVA. US Bancorp DE grew its stake in shares of Granite Construction by 77.5% during the 3rd quarter. US Bancorp DE now owns 2,730 shares of the construction company’s stock worth $216,000 after purchasing an additional 1,192 shares during the period. Crossmark Global Holdings Inc. acquired a new position in shares of Granite Construction during the 3rd quarter worth $247,000. Peregrine Asset Advisers Inc. acquired a new position in shares of Granite Construction during the 3rd quarter worth $4,616,000. Entropy Technologies LP acquired a new position in shares of Granite Construction during the 3rd quarter worth $408,000. Finally, CIBC Asset Management Inc acquired a new position in shares of Granite Construction during the 3rd quarter worth $214,000.

Insider Buying and Selling at Granite Construction

In other news, SVP Brian R. Dowd sold 2,025 shares of the stock in a transaction dated 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 directly owns 13,880 shares in the company, valued at $1,131,914. This represents a 12.73 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO James A. Radich sold 2,500 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $87.14, for a total transaction of $217,850.00. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. 0.81% of the stock is owned by insiders.

Granite Construction Stock Performance

NYSE:GVA opened at $70.97 on Tuesday. The company has a quick ratio of 1.56, a current ratio of 1.66 and a debt-to-equity ratio of 0.68. Granite Construction Incorporated has a fifty-two week low of $52.89 and a fifty-two week high of $105.20. The stock has a market cap of $3.08 billion, a PE ratio of 28.73 and a beta of 1.34. The firm’s fifty day simple moving average is $86.87 and its 200-day simple moving average is $86.20.

Granite Construction (NYSE:GVA) last released 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 business had revenue of $977.30 million during the quarter. During the same quarter in the previous year, the company earned $0.82 EPS. Analysts expect that Granite Construction Incorporated will post 5.49 earnings per share 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 issued a $0.13 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $0.52 dividend on an annualized basis and a yield of 0.73%. Granite Construction’s dividend payout ratio (DPR) is 21.05%.

About Granite Construction

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.