FORA Capital LLC Invests $328,000 in Granite Construction Incorporated (NYSE:GVA)

FORA Capital LLC purchased a new stake in shares of Granite Construction Incorporated (NYSE:GVA - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 3,739 shares of the construction company's stock, valued at approximately $328,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Deutsche Bank AG lifted its stake in shares of Granite Construction by 49.2% in the 4th quarter. Deutsche Bank AG now owns 39,344 shares of the construction company's stock worth $3,451,000 after purchasing an additional 12,976 shares during the period. EP Wealth Advisors LLC bought a new position in shares of Granite Construction in the 4th quarter worth approximately $236,000. Corton Capital Inc. bought a new position in shares of Granite Construction in the 4th quarter worth approximately $440,000. Crestline Management LP bought a new position in shares of Granite Construction in the 4th quarter worth approximately $506,000. Finally, Brevan Howard Capital Management LP bought a new position in shares of Granite Construction in the 4th quarter worth approximately $220,000.

Granite Construction Stock Performance

NYSE GVA traded up $0.27 on Wednesday, reaching $85.89. 523,299 shares of the stock were exchanged, compared to its average volume of 651,897. Granite Construction Incorporated has a one year low of $58.23 and a one year high of $105.20. The firm has a market capitalization of $3.76 billion, a PE ratio of 34.77 and a beta of 1.33. The company's 50-day simple moving average is $77.46 and its two-hundred day simple moving average is $85.85. The company has a current ratio of 1.66, a quick ratio of 1.56 and a debt-to-equity ratio of 0.68.

Granite Construction (NYSE:GVA - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The construction company reported $0.01 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.43) by $0.44. Granite Construction had a net margin of 3.15% and a return on equity of 20.67%. The business had revenue of $699.55 million during the quarter, compared to analyst estimates of $706.15 million. Granite Construction's revenue for the quarter was up 4.0% on a year-over-year basis. Analysts expect that Granite Construction Incorporated will post 5.49 EPS for the current fiscal year.

Granite Construction Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date of this dividend was Monday, March 31st. Granite Construction's dividend payout ratio (DPR) is presently 21.67%.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group increased their price objective on shares of Granite Construction from $69.00 to $76.00 and gave the stock a "sell" rating in a research note on Monday, May 5th.

Insider Activity at Granite Construction

In other Granite Construction news, CEO Kyle T. Larkin sold 3,617 shares of Granite Construction stock in a transaction on Monday, April 28th. The shares were sold at an average price of $80.38, for a total transaction of $290,734.46. Following the completion of the transaction, the chief executive officer now directly owns 132,366 shares of the company's stock, valued at $10,639,579.08. The trade was a 2.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO James A. Radich sold 2,500 shares of Granite Construction stock in a transaction on 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 directly owns 28,256 shares of the company's stock, valued at $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. Over the last ninety days, insiders sold 10,932 shares of company stock valued at $896,979. 0.81% of the stock is owned by corporate 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.