Bridgefront Capital LLC Invests $970,000 in Granite Construction Incorporated (NYSE:GVA)

Bridgefront Capital LLC bought a new position in Granite Construction Incorporated (NYSE:GVA - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The firm bought 11,054 shares of the construction company's stock, valued at approximately $970,000.

Other large investors also recently bought and sold shares of the company. Caxton Associates LP acquired a new stake in shares of Granite Construction during the fourth quarter worth $817,000. Balyasny Asset Management L.P. lifted its position in Granite Construction by 129.0% during the 4th quarter. Balyasny Asset Management L.P. now owns 125,633 shares of the construction company's stock worth $11,019,000 after acquiring an additional 70,770 shares during the period. Ameriprise Financial Inc. grew its stake in Granite Construction by 10.6% during the 4th quarter. Ameriprise Financial Inc. now owns 535,318 shares of the construction company's stock valued at $46,959,000 after purchasing an additional 51,520 shares during the last quarter. Algert Global LLC increased its holdings in shares of Granite Construction by 443.2% in the fourth quarter. Algert Global LLC now owns 159,117 shares of the construction company's stock valued at $13,956,000 after purchasing an additional 129,825 shares during the period. Finally, Mercer Global Advisors Inc. ADV raised its stake in shares of Granite Construction by 119.5% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 13,297 shares of the construction company's stock worth $1,166,000 after purchasing an additional 7,239 shares during the last quarter.

Insiders Place Their Bets

In other news, CEO Kyle T. Larkin sold 3,617 shares of the firm's 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 sale, the chief executive officer now directly owns 132,366 shares in the company, valued at $10,639,579.08. This trade represents a 2.66 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Brian R. Dowd sold 2,025 shares of the company's stock in a transaction dated Friday, February 28th. The stock was 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 directly 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. In the last 90 days, insiders have sold 10,932 shares of company stock worth $896,979. Corporate insiders own 0.81% of the company's stock.

Analyst Upgrades and Downgrades

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 report on Monday, May 5th.

Granite Construction Stock Performance

Shares of NYSE:GVA traded down $0.23 during midday trading on Friday, reaching $82.56. The company's stock had a trading volume of 865,053 shares, compared to its average volume of 651,324. The firm has a market capitalization of $3.61 billion, a PE ratio of 33.43 and a beta of 1.33. The stock has a fifty day moving average of $76.94 and a 200 day moving average of $85.80. Granite Construction Incorporated has a twelve month low of $58.23 and a twelve month high of $105.20. 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 (NYSE:GVA - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The construction company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.43) by $0.44. The company 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%. Granite Construction's quarterly revenue was up 4.0% compared to the same quarter last year. On average, equities analysts expect that Granite Construction Incorporated will post 5.49 EPS for the current fiscal year.

Granite Construction Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date of this dividend was Monday, March 31st. Granite Construction's payout ratio 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.