RPg Family Wealth Advisory LLC Has $5.81 Million Stake in Granite Construction Incorporated $GVA

Key Points

• RPg Family Wealth Advisory trimmed its Granite Construction stake by 13.7% in the fourth quarter, but still held 50,314 shares worth about $5.81 million.
• Granite Construction posted a strong quarter, with EPS of $0.26 versus an expected loss of $0.77 and revenue of $912.47 million, up 30.4% year over year.
• The company announced a quarterly dividend of $0.13 per share and has seen mixed sentiment from analysts, with the consensus rating at Hold despite some higher price targets.

RPg Family Wealth Advisory LLC decreased its stake in Granite Construction Incorporated (NYSE:GVA - Free Report) by 13.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 50,314 shares of the construction company's stock after selling 8,000 shares during the quarter. RPg Family Wealth Advisory LLC owned 0.12% of Granite Construction worth $5,810,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. 12th Street Asset Management Company LLC acquired a new position in Granite Construction in the third quarter valued at about $6,799,000. Oliver Luxxe Assets LLC acquired a new position in Granite Construction in the fourth quarter valued at about $1,783,000. Boothbay Fund Management LLC lifted its stake in Granite Construction by 9.1% in the third quarter. Boothbay Fund Management LLC now owns 160,331 shares of the construction company's stock valued at $17,580,000 after buying an additional 13,401 shares during the period. Leuthold Group LLC raised its position in shares of Granite Construction by 1,591.8% during the fourth quarter. Leuthold Group LLC now owns 45,223 shares of the construction company's stock worth $5,216,000 after purchasing an additional 42,550 shares during the period. Finally, Elo Mutual Pension Insurance Co acquired a new stake in shares of Granite Construction during the third quarter worth about $2,013,000.

Granite Construction Trading Up 1.2%

NYSE GVA opened at $140.59 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.09 and a quick ratio of 0.97. The firm has a market cap of $6.15 billion, a P/E ratio of 40.52 and a beta of 1.32. Granite Construction Incorporated has a one year low of $87.72 and a one year high of $145.00. The stock's 50-day moving average is $132.28 and its 200-day moving average is $124.93.

Granite Construction (NYSE:GVA - Get Free Report) last released its earnings results on Thursday, April 30th. The construction company reported $0.26 EPS for the quarter, beating the consensus estimate of ($0.77) by $1.03. Granite Construction had a return on equity of 24.90% and a net margin of 3.99%.The firm had revenue of $912.47 million for the quarter, compared to analysts' expectations of $782.26 million. During the same quarter in the previous year, the business posted $0.01 EPS. The business's quarterly revenue was up 30.4% compared to the same quarter last year. Sell-side analysts anticipate that Granite Construction Incorporated will post 5.13 earnings per share for the current fiscal year.

Granite Construction Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be issued a $0.13 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.4%. Granite Construction's dividend payout ratio (DPR) is 14.99%.

Analyst Ratings Changes

A number of research firms have recently commented on GVA. Weiss Ratings lowered Granite Construction from a "buy (b)" rating to a "hold (c+)" rating in a research report on Wednesday, May 6th. Wall Street Zen lowered Granite Construction from a "buy" rating to a "hold" rating in a research report on Saturday, May 30th. DA Davidson raised their price target on Granite Construction from $130.00 to $155.00 and gave the stock a "buy" rating in a research report on Friday, February 13th. Zacks Research raised Granite Construction to a "hold" rating in a research report on Friday, May 29th. Finally, Oppenheimer began coverage on Granite Construction in a research report on Thursday, May 28th. They set an "outperform" rating and a $170.00 price target on the stock. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $149.67.

Insider Buying and Selling at Granite Construction

In other Granite Construction news, SVP Michael G. Tatusko sold 7,500 shares of Granite Construction stock in a transaction on Monday, June 8th. The shares were sold at an average price of $141.00, for a total value of $1,057,500.00. Following the sale, the senior vice president directly owned 29,787 shares in the company, valued at approximately $4,199,967. The trade was a 20.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Kyle T. Larkin sold 26,651 shares of Granite Construction stock in a transaction on Friday, March 27th. The shares were sold at an average price of $118.12, for a total transaction of $3,148,016.12. Following the completion of the sale, the chief executive officer owned 114,881 shares in the company, valued at $13,569,743.72. The trade was a 18.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 49,722 shares of company stock worth $6,214,036. Company insiders own 0.88% of the company's stock.

Granite Construction Profile

Granite Construction Inc is a publicly traded heavy civil contractor and construction materials producer based in Watsonville, California. The company specializes in delivering large-scale infrastructure projects for government and private clients, focusing on the development, rehabilitation and maintenance of transportation, water resource and industrial facilities. Its turnkey solutions span the full project lifecycle, from preconstruction and design-build to construction management and facilities maintenance.

In its construction segment, Granite undertakes highway and bridge building, airport runway and taxiway construction, marine terminal and port improvements, dam and reservoir projects, transit systems and underground utilities.

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