SG Americas Securities LLC Invests $309,000 in Granite Construction Incorporated (NYSE:GVA)

SG Americas Securities LLC acquired a new stake in Granite Construction Incorporated (NYSE:GVA - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 4,103 shares of the construction company's stock, valued at approximately $309,000.

Other hedge funds have also recently bought and sold shares of the company. Illinois Municipal Retirement Fund increased its stake in Granite Construction by 0.5% in the fourth quarter. Illinois Municipal Retirement Fund now owns 23,747 shares of the construction company's stock valued at $2,083,000 after purchasing an additional 115 shares during the last quarter. Mariner LLC grew its stake in Granite Construction by 1.0% during the 4th quarter. Mariner LLC now owns 12,408 shares of the construction company's stock worth $1,088,000 after buying an additional 119 shares during the last quarter. Quarry LP grew its stake in Granite Construction by 68.4% during the 4th quarter. Quarry LP now owns 325 shares of the construction company's stock worth $29,000 after buying an additional 132 shares during the last quarter. Dorsey & Whitney Trust CO LLC grew its stake in Granite Construction by 1.4% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 10,376 shares of the construction company's stock worth $910,000 after buying an additional 139 shares during the last quarter. Finally, OneDigital Investment Advisors LLC lifted its stake in Granite Construction by 3.4% in the fourth quarter. OneDigital Investment Advisors LLC now owns 4,299 shares of the construction company's stock valued at $377,000 after buying an additional 142 shares during the last quarter.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group upped their price target 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.

Insider Activity at Granite Construction

In related news, CEO Kyle T. Larkin sold 3,617 shares of the firm's stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $80.38, for a total value of $290,734.46. Following the completion of the sale, the chief executive officer now owns 132,366 shares in the company, valued at $10,639,579.08. This trade represents a 2.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Brian R. Dowd sold 2,025 shares of Granite Construction stock in a transaction that occurred 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 now directly owns 18,819 shares in the company, valued at $1,726,831.44. This represents a 9.72% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 8,432 shares of company stock worth $699,804 in the last three months. Insiders own 0.81% of the company's stock.

Granite Construction Price Performance

Shares of GVA opened at $91.35 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.44 and a current ratio of 1.57. Granite Construction Incorporated has a fifty-two week low of $58.23 and a fifty-two week high of $105.20. The firm has a 50-day simple moving average of $86.06 and a 200-day simple moving average of $84.63. The company has a market capitalization of $4.00 billion, a price-to-earnings ratio of 38.06 and a beta of 1.34.

Granite Construction (NYSE:GVA - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The construction company reported $0.01 earnings per share for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $706.15 million. The firm's revenue was up 4.0% compared to the same quarter last year. On average, equities research analysts anticipate that Granite Construction Incorporated will post 5.49 earnings per share for the current year.

Granite Construction Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 0.57%. The ex-dividend date is Monday, June 30th. Granite Construction's dividend payout ratio is presently 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.

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