Granite Construction Incorporated (NYSE:GVA) Shares Bought by Gotham Asset Management LLC

Gotham Asset Management LLC boosted its position in shares of Granite Construction Incorporated (NYSE:GVA - Free Report) by 26.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 14,326 shares of the construction company's stock after purchasing an additional 2,963 shares during the quarter. Gotham Asset Management LLC's holdings in Granite Construction were worth $1,257,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Federated Hermes Inc. acquired a new position in shares of Granite Construction during the 4th quarter worth $26,000. Quarry LP increased its holdings in Granite Construction by 68.4% during the 4th quarter. Quarry LP now owns 325 shares of the construction company's stock valued at $29,000 after acquiring an additional 132 shares in the last quarter. Aster Capital Management DIFC Ltd raised 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 worth $79,000 after acquiring an additional 477 shares during the last quarter. Steward Partners Investment Advisory LLC purchased a new stake in shares of Granite Construction in the fourth quarter valued at about $89,000. Finally, Smartleaf Asset Management LLC lifted its holdings 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 valued at $119,000 after purchasing an additional 887 shares in the last quarter.

Insider Activity at Granite Construction

In other news, SVP Brian R. Dowd sold 2,025 shares of Granite Construction stock in a transaction on Friday, February 28th. The stock was sold at an average price of $81.55, for a total value of $165,138.75. Following the completion of the sale, the senior vice president now owns 13,880 shares of the company's stock, valued at $1,131,914. The trade was a 12.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Kyle T. Larkin sold 2,790 shares of the stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $80.02, for a total value of $223,255.80. Following the transaction, the chief executive officer now owns 136,384 shares in the company, valued at $10,913,447.68. This trade represents a 2.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 8,432 shares of company stock valued at $679,129. Company insiders own 0.81% of the company's stock.

Granite Construction Price Performance

Granite Construction stock traded down $0.95 during mid-day trading on Thursday, hitting $85.37. 68,608 shares of the company were exchanged, compared to its average volume of 660,746. Granite Construction Incorporated has a 12-month low of $58.23 and a 12-month high of $105.20. The company has a market capitalization of $3.73 billion, a P/E ratio of 34.56 and a beta of 1.33. The business's 50 day simple moving average is $78.88 and its two-hundred day simple moving average is $85.97. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.66 and a quick ratio of 1.56.

Granite Construction (NYSE:GVA - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The construction company reported $0.01 EPS for the quarter, topping analysts' consensus estimates of ($0.43) by $0.44. The firm 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 company's quarterly revenue was up 4.0% on a year-over-year basis. Analysts forecast that Granite Construction Incorporated will post 5.49 earnings per share 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 given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date of this dividend was Monday, March 31st. Granite Construction's dividend payout ratio is presently 21.67%.

Wall Street Analysts Forecast Growth

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

Granite Construction 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.