Granite Construction Incorporated (NYSE:GVA) Stake Boosted by Algert Global LLC

Algert Global LLC increased its holdings in Granite Construction Incorporated (NYSE:GVA - Free Report) by 443.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 159,117 shares of the construction company's stock after acquiring an additional 129,825 shares during the quarter. Algert Global LLC owned approximately 0.36% of Granite Construction worth $13,956,000 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 the business. Fiduciary Financial Group LLC purchased a new stake in Granite Construction during the 4th quarter valued at approximately $545,000. Pacer Advisors Inc. purchased a new position in shares of Granite Construction during the 4th quarter worth approximately $92,154,000. Teacher Retirement System of Texas grew its holdings in Granite Construction by 35.2% during 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 during the last quarter. Norges Bank purchased a new position in Granite Construction during the fourth quarter worth $31,855,000. Finally, Hennessy Advisors Inc. acquired a new stake in shares of Granite Construction during the 4th quarter worth about $61,046,000.

Insider Activity

In related news, CEO Kyle T. Larkin sold 2,790 shares of the company's stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $80.02, for a total value of $223,255.80. Following the completion of the sale, the chief executive officer now owns 136,384 shares of the company's stock, valued at $10,913,447.68. This represents a 2.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO James A. Radich sold 2,500 shares of the company's stock in a transaction that occurred 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 owns 28,256 shares of the company's stock, valued at $2,462,227.84. This trade represents a 8.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,932 shares of company stock worth $896,979. 0.81% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group upped their target price on Granite Construction from $69.00 to $76.00 and gave the company a "sell" rating in a research note on Monday.

Granite Construction Trading Down 0.8 %

GVA traded down $0.68 on Friday, reaching $82.11. 384,592 shares of the company's stock were exchanged, compared to its average volume of 678,240. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.56 and a current ratio of 1.66. Granite Construction Incorporated has a twelve month low of $58.23 and a twelve month high of $105.20. The company's 50 day moving average is $76.88 and its 200-day moving average is $85.80. The company has a market cap of $3.59 billion, a price-to-earnings ratio of 33.24 and a beta of 1.33.

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

Granite Construction Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.52 dividend on an annualized basis and a yield of 0.63%. Granite Construction's dividend payout ratio (DPR) is presently 21.67%.

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.