SG Americas Securities LLC Purchases Shares of 4,103 Granite Construction Incorporated (NYSE:GVA)

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

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Federated Hermes Inc. bought a new position in Granite Construction during the 4th quarter worth about $26,000. Quarry LP raised its holdings 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 purchasing an additional 132 shares in the last quarter. Rothschild Investment LLC boosted its stake in shares of Granite Construction by 80.3% during the first quarter. Rothschild Investment LLC now owns 640 shares of the construction company's stock valued at $48,000 after purchasing an additional 285 shares in the last quarter. Versant Capital Management Inc boosted its stake in shares of Granite Construction by 53.0% during the first quarter. Versant Capital Management Inc now owns 855 shares of the construction company's stock valued at $64,000 after purchasing an additional 296 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd increased its holdings in Granite Construction by 112.8% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 900 shares of the construction company's stock valued at $79,000 after buying an additional 477 shares during the period.

Insider Buying and Selling at Granite Construction

In other news, SVP Brian R. Dowd sold 2,025 shares of the company's stock in a transaction 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 transaction, the senior vice president directly owned 18,819 shares of the company's stock, valued at approximately $1,726,831.44. This represents a 9.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Kyle T. Larkin sold 3,617 shares of the firm's stock in a transaction on Monday, April 28th. The stock was 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 directly owned 132,366 shares of the company's stock, valued at $10,639,579.08. The trade was a 2.66% decrease in their position. The disclosure for this sale can be found here. Insiders sold 8,432 shares of company stock worth $699,804 over the last ninety days. Corporate insiders own 0.81% of the company's stock.

Granite Construction Stock Up 0.7%

Shares of NYSE GVA traded up $0.65 during mid-day trading on Monday, reaching $93.53. 491,056 shares of the company were exchanged, compared to its average volume of 650,496. Granite Construction Incorporated has a 1 year low of $58.23 and a 1 year high of $105.20. The firm has a 50-day moving average of $86.74 and a 200 day moving average of $84.45. The stock has a market cap of $4.09 billion, a price-to-earnings ratio of 38.97 and a beta of 1.34. 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 (NYSE:GVA - Get Free Report) last released its quarterly 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 net margin of 3.07% and a return on equity of 21.40%. The business had revenue of $699.55 million during the quarter, compared to analyst estimates of $706.15 million. The firm's revenue was up 4.0% on a year-over-year basis. On average, research analysts expect that Granite Construction Incorporated will post 5.49 earnings per share for the current year.

Granite Construction Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be paid a $0.13 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $0.52 annualized dividend and a yield of 0.56%. Granite Construction's dividend payout ratio (DPR) is 21.67%.

Analyst Upgrades and Downgrades

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.

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.