Wolverine Asset Management LLC Makes New Investment in Granite Construction Incorporated (NYSE:GVA)

Wolverine Asset Management LLC purchased a new position in shares of Granite Construction Incorporated (NYSE:GVA) in the fourth quarter, HoldingsChannel reports. The fund purchased 33,605 shares of the construction company’s stock, valued at approximately $2,947,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its holdings in shares of Granite Construction by 8.5% in the 4th quarter. GAMMA Investing LLC now owns 2,178 shares of the construction company’s stock valued at $191,000 after buying an additional 171 shares during the period. Atomi Financial Group Inc. lifted its holdings in shares of Granite Construction by 6.7% in the 4th quarter. Atomi Financial Group Inc. now owns 4,769 shares of the construction company’s stock valued at $418,000 after buying an additional 301 shares during the period. Blue Trust Inc. lifted its holdings in shares of Granite Construction by 66.4% in the 3rd quarter. Blue Trust Inc. now owns 902 shares of the construction company’s stock valued at $72,000 after buying an additional 360 shares during the period. KBC Group NV lifted its holdings in shares of Granite Construction by 26.6% in the 4th quarter. KBC Group NV now owns 1,751 shares of the construction company’s stock valued at $154,000 after buying an additional 368 shares during the period. Finally, D.A. Davidson & CO. lifted its holdings in shares of Granite Construction by 0.7% in the 4th quarter. D.A. Davidson & CO. now owns 65,861 shares of the construction company’s stock valued at $5,777,000 after buying an additional 477 shares during the period.

Granite Construction Stock Performance

Shares of GVA stock opened at $82.15 on Friday. The stock has a market cap of $3.57 billion, a PE ratio of 33.26 and a beta of 1.42. The business has a 50-day simple moving average of $89.01 and a 200-day simple moving average of $85.25. 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 52-week low of $48.11 and a 52-week high of $105.20.

Granite Construction (NYSE:GVA) last issued its quarterly earnings data 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 company had revenue of $977.30 million during 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 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 year.

Granite Construction Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a $0.13 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $0.52 annualized dividend and a dividend yield of 0.63%. Granite Construction’s dividend payout ratio is presently 21.05%.

Insider Activity at Granite Construction

In related news, COO James A. Radich sold 2,500 shares of Granite Construction stock in a transaction dated 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 transaction, the chief operating officer now owns 28,256 shares in the company, valued at $2,462,227.84. The trade was a 8.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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.