Centiva Capital LP Trims Stock Position in Granite Construction Incorporated (NYSE:GVA)

Centiva Capital LP reduced its stake in Granite Construction Incorporated (NYSE:GVA - Free Report) by 59.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,682 shares of the construction company's stock after selling 9,970 shares during the quarter. Centiva Capital LP's holdings in Granite Construction were worth $586,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Fiduciary Financial Group LLC bought a new position in shares of Granite Construction in the 4th quarter valued at about $545,000. Pacer Advisors Inc. bought a new stake in shares of Granite Construction in the fourth quarter valued at approximately $92,154,000. Teacher Retirement System of Texas increased its position in shares of Granite Construction by 35.2% in the fourth quarter. Teacher Retirement System of Texas now owns 26,319 shares of the construction company's stock worth $2,308,000 after purchasing an additional 6,852 shares during the period. Norges Bank acquired a new position in shares of Granite Construction in the 4th quarter valued at approximately $31,855,000. Finally, Hennessy Advisors Inc. bought a new stake in Granite Construction during the fourth quarter worth $61,046,000.

Insider Transactions at Granite Construction

In related news, CEO Kyle T. Larkin sold 2,790 shares of Granite Construction stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $80.02, for a total transaction of $223,255.80. Following the sale, the chief executive officer now directly owns 136,384 shares in the company, valued at approximately $10,913,447.68. This trade represents a 2.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO James A. Radich sold 2,500 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $87.14, for a total transaction of $217,850.00. Following the transaction, the chief operating officer now owns 28,256 shares of the company's stock, valued at approximately $2,462,227.84. The trade was a 8.13% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,932 shares of company stock valued at $896,979 over the last ninety days. 0.81% of the stock is owned by company insiders.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group boosted their target price 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.

Granite Construction Trading Up 0.1%

Shares of GVA traded up $0.10 during mid-day trading on Thursday, reaching $86.12. 80,637 shares of the company were exchanged, compared to its average volume of 649,659. The business has a 50 day simple moving average of $77.46 and a two-hundred day simple moving average of $85.85. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.56 and a current ratio of 1.66. The stock has a market capitalization of $3.77 billion, a PE ratio of 34.89 and a beta of 1.33. Granite Construction Incorporated has a 52 week low of $58.23 and a 52 week high of $105.20.

Granite Construction (NYSE:GVA - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The construction company reported $0.01 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $699.55 million for the quarter, compared to the consensus estimate of $706.15 million. The business's revenue for the quarter was up 4.0% compared to the same quarter last year. On average, analysts predict that Granite Construction Incorporated will post 5.49 earnings per share for the current fiscal year.

Granite Construction Dividend Announcement

The company also recently announced 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 yield of 0.60%. The ex-dividend date was Monday, March 31st. Granite Construction's payout ratio is 21.67%.

Granite Construction 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.