Boothbay Fund Management LLC Makes New Investment in Granite Construction Incorporated (NYSE:GVA)

Boothbay Fund Management LLC acquired a new position in Granite Construction Incorporated (NYSE:GVA - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 56,189 shares of the construction company's stock, valued at approximately $4,928,000. Boothbay Fund Management LLC owned approximately 0.13% of Granite Construction at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Illinois Municipal Retirement Fund raised its stake in shares of Granite Construction by 0.5% during the 4th quarter. Illinois Municipal Retirement Fund now owns 23,747 shares of the construction company's stock worth $2,083,000 after purchasing an additional 115 shares in the last quarter. Mariner LLC boosted its holdings in Granite Construction by 1.0% in the 4th quarter. Mariner LLC now owns 12,408 shares of the construction company's stock valued at $1,088,000 after purchasing an additional 119 shares during the period. Dorsey & Whitney Trust CO LLC raised its stake in shares of Granite Construction by 1.4% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 10,376 shares of the construction company's stock valued at $910,000 after buying an additional 139 shares in the last quarter. OneDigital Investment Advisors LLC raised its stake in shares of Granite Construction by 3.4% in the 4th quarter. OneDigital Investment Advisors LLC now owns 4,299 shares of the construction company's stock valued at $377,000 after buying an additional 142 shares in the last quarter. Finally, Summit Investment Advisors Inc. raised its stake in shares of Granite Construction by 3.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 4,607 shares of the construction company's stock valued at $404,000 after buying an additional 146 shares in the last quarter.

Insider Activity at Granite Construction

In other Granite Construction news, CEO Kyle T. Larkin sold 3,617 shares of the stock in a transaction dated Monday, April 28th. The stock was 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 owns 132,366 shares in the company, valued at approximately $10,639,579.08. This represents a 2.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Brian R. Dowd sold 2,025 shares of the firm's stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $81.55, for a total value of $165,138.75. Following the completion of the transaction, the senior vice president now owns 13,880 shares of the company's stock, valued at $1,131,914. The trade was a 12.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 10,932 shares of company stock worth $896,979 in the last quarter. Corporate insiders own 0.81% of the company's stock.

Granite Construction Price Performance

Shares of Granite Construction stock traded up $0.69 during mid-day trading on Wednesday, reaching $81.36. 819,846 shares of the stock were exchanged, compared to its average volume of 644,575. The company has a market cap of $3.53 billion, a price-to-earnings ratio of 32.94 and a beta of 1.26. The company has a current ratio of 1.66, a quick ratio of 1.56 and a debt-to-equity ratio of 0.68. The firm has a 50-day simple moving average of $76.91 and a 200 day simple moving average of $85.82. Granite Construction Incorporated has a fifty-two week low of $54.95 and a fifty-two week high of $105.20.

Granite Construction (NYSE:GVA - Get Free Report) last issued its earnings results 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 business 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 quarter in the previous year, the business earned $0.82 earnings per share. On average, sell-side analysts predict that Granite Construction Incorporated will post 5.49 EPS for the current fiscal year.

Granite Construction Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date of this dividend was Monday, March 31st. Granite Construction's dividend payout ratio is currently 21.05%.

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.