XTX Topco Ltd Has $1.45 Million Stock Holdings in Granite Construction Incorporated (NYSE:GVA)

Key Points

• XTX Topco Ltd increased its stake in Granite Construction by 104.2%, holding 19,205 shares valued at approximately $1.45 million as of its latest SEC filing.
• In the 1st quarter, several large investors also increased their positions, with Voya Investment Management's holdings seeing a massive growth of 1,058.0%.
• Granite Construction reported a net margin of 3.07% and beat earnings expectations with $0.01 EPS compared to estimates of ($0.43) during its last quarterly report.

XTX Topco Ltd grew its position in shares of Granite Construction Incorporated (NYSE:GVA - Free Report) by 104.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,205 shares of the construction company's stock after acquiring an additional 9,801 shares during the quarter. XTX Topco Ltd's holdings in Granite Construction were worth $1,448,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Commonwealth Equity Services LLC raised its stake in shares of Granite Construction by 3.8% during the 4th quarter. Commonwealth Equity Services LLC now owns 6,055 shares of the construction company's stock worth $531,000 after purchasing an additional 223 shares in the last quarter. Norges Bank bought a new stake in shares of Granite Construction during the 4th quarter worth approximately $31,855,000. Pictet Asset Management Holding SA raised its stake in shares of Granite Construction by 3.4% during the 4th quarter. Pictet Asset Management Holding SA now owns 5,626 shares of the construction company's stock worth $493,000 after purchasing an additional 183 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Granite Construction by 42.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 148,313 shares of the construction company's stock worth $13,009,000 after purchasing an additional 44,444 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC raised its stake in shares of Granite Construction by 3.1% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 8,461 shares of the construction company's stock worth $742,000 after purchasing an additional 254 shares in the last quarter.

Granite Construction Stock Performance

GVA traded down $0.16 during trading hours on Monday, reaching $92.12. The company's stock had a trading volume of 52,054 shares, compared to its average volume of 607,188. Granite Construction Incorporated has a 52 week low of $65.13 and a 52 week high of $105.20. The company's 50-day moving average is $92.00 and its 200-day moving average is $85.16. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.44 and a current ratio of 1.57. The firm has a market cap of $4.03 billion, a PE ratio of 38.36 and a beta of 1.39.

Granite Construction (NYSE:GVA - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The construction company reported $0.01 earnings per share for the quarter, beating 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 business had revenue of $699.55 million for the quarter, compared to analysts' expectations of $706.15 million. The company's revenue for the quarter was up 4.0% on a year-over-year basis. On average, equities analysts forecast that Granite Construction Incorporated will post 5.49 EPS for the current year.

Granite Construction Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Monday, June 30th. Granite Construction's dividend payout ratio is 21.67%.

Insiders Place Their Bets

In related news, SVP Brian R. Dowd sold 2,025 shares of the 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 sale, the senior vice president owned 18,819 shares in the company, valued at approximately $1,726,831.44. This represents a 9.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.81% of the company's stock.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group upped their price objective on Granite Construction from $69.00 to $76.00 and gave the stock 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.