Victory Capital Management Inc. Has $12.10 Million Holdings in Granite Construction Incorporated (NYSE:GVA)

Victory Capital Management Inc. boosted its position in Granite Construction Incorporated (NYSE:GVA - Free Report) by 13.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 160,462 shares of the construction company's stock after purchasing an additional 18,707 shares during the period. Victory Capital Management Inc. owned 0.37% of Granite Construction worth $12,099,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Millennium Management LLC boosted its holdings in Granite Construction by 11.0% in the fourth quarter. Millennium Management LLC now owns 2,651,676 shares of the construction company's stock worth $232,579,000 after acquiring an additional 263,302 shares in the last quarter. First Trust Advisors LP grew its position in Granite Construction by 35.1% during the fourth quarter. First Trust Advisors LP now owns 1,131,419 shares of the construction company's stock worth $99,237,000 after buying an additional 294,200 shares in the last quarter. Invesco Ltd. lifted its stake in Granite Construction by 22.2% during the fourth quarter. Invesco Ltd. now owns 580,584 shares of the construction company's stock worth $50,923,000 after purchasing an additional 105,420 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Granite Construction by 17.9% in the 4th quarter. Northern Trust Corp now owns 579,384 shares of the construction company's stock valued at $50,818,000 after acquiring an additional 87,783 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its position in shares of Granite Construction by 10.6% in the 4th quarter. Ameriprise Financial Inc. now owns 535,318 shares of the construction company's stock worth $46,959,000 after buying an additional 51,520 shares during the last quarter.

Granite Construction Stock Up 1.0%

Shares of GVA stock traded up $0.91 during trading hours on Friday, reaching $95.78. 852,742 shares of the company's stock were exchanged, compared to its average volume of 615,934. 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's 50 day moving average is $91.09 and its 200-day moving average is $85.00. Granite Construction Incorporated has a fifty-two week low of $65.13 and a fifty-two week high of $105.20. The company has a market cap of $4.19 billion, a price-to-earnings ratio of 39.91 and a beta of 1.32.

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. The firm had revenue of $699.55 million for the quarter, compared to analyst estimates of $706.15 million. Granite Construction had a net margin of 3.07% and a return on equity of 21.40%. The business's revenue was up 4.0% on a year-over-year basis. Analysts predict that Granite Construction Incorporated will post 5.49 earnings per share for the current fiscal year.

Granite Construction Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date of this dividend was Monday, June 30th. Granite Construction's dividend payout ratio is currently 21.67%.

Insiders Place Their Bets

In other Granite Construction news, SVP Brian R. Dowd sold 2,025 shares of the stock in a transaction on Wednesday, May 28th. The shares were 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 in the company, valued at $1,726,831.44. This represents a 9.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Kyle T. Larkin sold 3,617 shares of Granite Construction stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $80.38, for a total transaction of $290,734.46. Following the completion of the transaction, the chief executive officer directly owned 132,366 shares in the company, valued at $10,639,579.08. This represents a 2.66% decrease in their position. The disclosure for this sale can be found here. 0.81% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group raised their price objective on shares of Granite Construction from $69.00 to $76.00 and gave the company a "sell" rating in a research note on Monday, May 5th.

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.