17,004 Shares in Granite Construction Incorporated (NYSE:GVA) Bought by Gallo Partners LP

Gallo Partners LP bought a new position in Granite Construction Incorporated (NYSE:GVA - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 17,004 shares of the construction company's stock, valued at approximately $1,491,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in 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 raised its holdings in Granite Construction by 68.4% in the fourth 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 position 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 in the last quarter. Steward Partners Investment Advisory LLC purchased a new stake in Granite Construction during the fourth quarter worth approximately $89,000. Finally, Smartleaf Asset Management LLC increased its position in shares of Granite Construction by 193.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,345 shares of the construction company's stock worth $119,000 after acquiring an additional 887 shares in the last quarter.

Insider Activity

In other news, CEO Kyle T. Larkin sold 3,617 shares of Granite Construction stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $80.38, for a total transaction of $290,734.46. Following the sale, the chief executive officer now directly owns 132,366 shares of the company's stock, valued at approximately $10,639,579.08. The trade was a 2.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO James A. Radich sold 2,500 shares of the company's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $87.14, for a total value of $217,850.00. Following the completion of the transaction, the chief operating officer now directly owns 28,256 shares in the company, valued at approximately $2,462,227.84. The trade was a 8.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 10,932 shares of company stock worth $896,979 over the last 90 days. Company insiders own 0.81% of the company's stock.

Granite Construction Stock Up 2.1 %

Shares of NYSE:GVA traded up $1.63 during midday trading on Friday, hitting $81.00. 1,043,018 shares of the company's stock traded hands, compared to its average volume of 649,063. The firm's fifty day moving average price is $76.85 and its two-hundred day moving average price is $85.81. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.56 and a current ratio of 1.66. Granite Construction Incorporated has a twelve month low of $58.00 and a twelve month high of $105.20. The company has a market cap of $3.54 billion, a PE ratio of 32.79 and a beta of 1.26.

Granite Construction (NYSE:GVA - Get Free Report) last released its quarterly earnings data 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 return on equity of 20.67% and a net margin of 3.15%. The company had revenue of $699.55 million for the quarter, compared to analyst estimates of $706.15 million. Granite Construction's revenue for the quarter 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 EPS for the current fiscal year.

Granite Construction Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.64%. Granite Construction's dividend payout ratio is currently 21.05%.

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.