Two Sigma Advisers LP Purchases New Stake in Granite Construction Incorporated (NYSE:GVA)

Two Sigma Advisers LP acquired a new stake in Granite Construction Incorporated (NYSE:GVA - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 11,306 shares of the construction company's stock, valued at approximately $992,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Federated Hermes Inc. acquired a new position in shares of Granite Construction in the 4th quarter valued at about $26,000. Quarry LP lifted 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 buying an additional 132 shares during the period. Aster Capital Management DIFC Ltd lifted its holdings in shares of Granite Construction by 112.8% in the 4th 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. Steward Partners Investment Advisory LLC acquired a new position in shares of Granite Construction in the 4th quarter valued at about $89,000. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of Granite Construction by 193.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,345 shares of the construction company's stock valued at $119,000 after buying an additional 887 shares during the period.

Granite Construction Price Performance

NYSE GVA traded up $0.90 during trading hours on Thursday, reaching $90.61. The company's stock had a trading volume of 493,134 shares, compared to its average volume of 664,247. The firm has a market capitalization of $3.96 billion, a price-to-earnings ratio of 36.68 and a beta of 1.34. Granite Construction Incorporated has a 1-year low of $58.23 and a 1-year high of $105.20. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.66 and a quick ratio of 1.56. The company's 50-day moving average is $81.80 and its two-hundred day moving average is $85.51.

Granite Construction (NYSE:GVA - Get Free Report) last released its quarterly earnings results 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. The company had revenue of $699.55 million during the quarter, compared to analysts' expectations of $706.15 million. Granite Construction had a return on equity of 20.67% and a net margin of 3.15%. The business's revenue was up 4.0% compared to the same quarter last year. On average, equities analysts predict that Granite Construction Incorporated will post 5.49 EPS for the current year.

Granite Construction Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a $0.13 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.52 annualized dividend and a dividend yield of 0.57%. Granite Construction's dividend payout ratio (DPR) is presently 21.67%.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group upped their price target 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 other Granite Construction news, SVP Brian R. Dowd sold 2,025 shares of the firm's stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $91.76, for a total value of $185,814.00. Following the transaction, the senior vice president now owns 18,819 shares in the company, valued at approximately $1,726,831.44. This trade represents a 9.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Kyle T. Larkin sold 3,617 shares of the firm's stock in a transaction on 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 transaction, the chief executive officer now owns 132,366 shares in the company, 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 have sold 8,432 shares of company stock valued at $699,804 over the last ninety days. Insiders own 0.81% of the company's stock.

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.