Granite Construction Incorporated (NYSE:GVA) Stock Holdings Increased by KBC Group NV

KBC Group NV increased its position in shares of Granite Construction Incorporated (NYSE:GVA - Free Report) by 346.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,823 shares of the construction company's stock after acquiring an additional 6,072 shares during the quarter. KBC Group NV's holdings in Granite Construction were worth $590,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Federated Hermes Inc. acquired a new position in shares of Granite Construction during the 4th quarter worth $26,000. Quarry LP raised its stake in shares of Granite Construction by 68.4% in the 4th quarter. Quarry LP now owns 325 shares of the construction company's stock valued at $29,000 after buying an additional 132 shares in the last quarter. Rothschild Investment LLC raised its stake in shares of Granite Construction by 80.3% in the 1st quarter. Rothschild Investment LLC now owns 640 shares of the construction company's stock valued at $48,000 after buying an additional 285 shares in the last quarter. Blue Trust Inc. raised its stake in shares of Granite Construction by 40.5% in the 1st quarter. Blue Trust Inc. now owns 781 shares of the construction company's stock valued at $59,000 after buying an additional 225 shares in the last quarter. Finally, Versant Capital Management Inc raised its stake in shares of Granite Construction by 53.0% in the 1st quarter. Versant Capital Management Inc now owns 855 shares of the construction company's stock valued at $64,000 after buying an additional 296 shares in the last quarter.

Insider Buying and Selling

In related news, SVP Brian R. Dowd sold 2,025 shares of Granite Construction stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $91.76, for a total value of $185,814.00. Following the completion of the sale, the senior vice president owned 18,819 shares of the company's stock, valued at approximately $1,726,831.44. This trade represents a 9.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Kyle T. Larkin sold 3,617 shares of Granite Construction stock in a transaction on Monday, April 28th. The stock was sold at an average price of $80.38, for a total transaction of $290,734.46. Following the transaction, the chief executive officer directly owned 132,366 shares in the company, valued at $10,639,579.08. This represents a 2.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,432 shares of company stock valued at $699,804. 0.81% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group raised their price objective on shares of 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 Price Performance

NYSE GVA opened at $93.90 on Friday. The company has a quick ratio of 1.44, a current ratio of 1.57 and a debt-to-equity ratio of 0.71. Granite Construction Incorporated has a 12-month low of $58.23 and a 12-month high of $105.20. The company has a market capitalization of $4.11 billion, a PE ratio of 39.13 and a beta of 1.32. The firm's 50 day moving average is $87.93 and its 200-day moving average is $84.58.

Granite Construction (NYSE:GVA - Get Free Report) last announced its earnings results 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 3.07% and a return on equity of 21.40%. The company had revenue of $699.55 million during the quarter, compared to analysts' expectations of $706.15 million. The business's revenue was up 4.0% on a year-over-year basis. Equities research analysts anticipate that Granite Construction Incorporated will post 5.49 earnings per share for the current fiscal year.

Granite Construction Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be issued a $0.13 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $0.52 dividend on an annualized basis and a yield of 0.55%. 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.

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