R Squared Ltd Has $443,000 Stock Holdings in Granite Construction Incorporated (NYSE:GVA)

Key Points

• R Squared Ltd increased its stake in Granite Construction by 144.6%, acquiring an additional 3,470 shares, which brings its total holdings to 5,870 shares valued at approximately $443,000.
• The company announced a $0.13 quarterly dividend on June 30th, reflecting an annualized yield of 0.6% and a payout ratio of 21.67%.
• Granite Construction's stock recently traded down to $92.32 after a trading volume of 604,545 shares, with analysts expecting earnings per share to reach 5.49 for the current fiscal year.

R Squared Ltd raised its holdings in Granite Construction Incorporated (NYSE:GVA - Free Report) by 144.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,870 shares of the construction company's stock after acquiring an additional 3,470 shares during the period. R Squared Ltd's holdings in Granite Construction were worth $443,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GVA. PNC Financial Services Group Inc. boosted its position in shares of Granite Construction by 4.9% during the first quarter. PNC Financial Services Group Inc. now owns 8,539 shares of the construction company's stock worth $644,000 after buying an additional 398 shares during the period. Bayforest Capital Ltd raised its holdings in Granite Construction by 208.6% during the first quarter. Bayforest Capital Ltd now owns 9,212 shares of the construction company's stock worth $695,000 after acquiring an additional 6,227 shares in the last quarter. Vestcor Inc bought a new stake in Granite Construction during the first quarter worth about $270,000. XTX Topco Ltd raised its holdings in Granite Construction by 104.2% during the first quarter. XTX Topco Ltd now owns 19,205 shares of the construction company's stock worth $1,448,000 after acquiring an additional 9,801 shares in the last quarter. Finally, GSA Capital Partners LLP raised its holdings in Granite Construction by 112.9% during the first quarter. GSA Capital Partners LLP now owns 11,279 shares of the construction company's stock worth $850,000 after acquiring an additional 5,981 shares in the last quarter.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group upped their target price on Granite Construction from $69.00 to $76.00 and gave the stock a "sell" rating in a report on Monday, May 5th.

Insider Transactions at Granite Construction

In related news, SVP Brian R. Dowd sold 2,025 shares of the stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $91.76, for a total transaction of $185,814.00. Following the sale, the senior vice president owned 18,819 shares of the company's stock, valued at $1,726,831.44. This represents a 9.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.81% of the stock is owned by corporate insiders.

Granite Construction Stock Performance

NYSE:GVA traded down $2.15 on Friday, hitting $92.32. The company's stock had a trading volume of 604,545 shares, compared to its average volume of 444,270. The company has a current ratio of 1.57, a quick ratio of 1.44 and a debt-to-equity ratio of 0.71. The stock has a fifty day moving average of $92.00 and a two-hundred day moving average of $85.21. The firm has a market capitalization of $4.04 billion, a P/E ratio of 38.47 and a beta of 1.39. Granite Construction Incorporated has a one year low of $65.13 and a one year high of $105.20.

Granite Construction (NYSE:GVA - Get Free Report) last posted 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. Granite Construction had a return on equity of 21.40% and a net margin of 3.07%. The company had revenue of $699.55 million for the quarter, compared to the consensus estimate of $706.15 million. The company's revenue was up 4.0% compared to the same quarter last year. Research analysts predict that Granite Construction Incorporated will post 5.49 earnings per share for the current year.

Granite Construction Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $0.52 dividend on an annualized basis and a yield of 0.6%. Granite Construction's dividend payout ratio is currently 21.67%.

About Granite Construction

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.