Granite Construction Incorporated (NYSE:GVA) Stock Holdings Lifted by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. raised its position in Granite Construction Incorporated (NYSE:GVA - Free Report) by 129.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 125,633 shares of the construction company's stock after acquiring an additional 70,770 shares during the period. Balyasny Asset Management L.P. owned approximately 0.29% of Granite Construction worth $11,019,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GVA. Fiduciary Financial Group LLC acquired a new stake in shares of Granite Construction in the fourth quarter valued at about $545,000. Pacer Advisors Inc. purchased a new position in shares of Granite Construction during the fourth quarter valued at approximately $92,154,000. Teacher Retirement System of Texas boosted its position in Granite Construction by 35.2% during the fourth quarter. Teacher Retirement System of Texas now owns 26,319 shares of the construction company's stock worth $2,308,000 after acquiring an additional 6,852 shares during the last quarter. Norges Bank purchased a new stake in Granite Construction in the 4th quarter worth approximately $31,855,000. Finally, Hennessy Advisors Inc. acquired a new position in Granite Construction in the 4th quarter valued at $61,046,000.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In related news, COO James A. Radich sold 2,500 shares of the business's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $87.14, for a total transaction of $217,850.00. Following the sale, the chief operating officer now owns 28,256 shares of the company's stock, valued at $2,462,227.84. The trade was a 8.13% 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 3,617 shares of the business's stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $80.38, for a total value of $290,734.46. Following the sale, the chief executive officer now directly owns 132,366 shares in the company, valued at approximately $10,639,579.08. The trade was a 2.66% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 10,932 shares of company stock worth $896,979. Corporate insiders own 0.81% of the company's stock.

Granite Construction Trading Up 1.8%

Shares of GVA traded up $1.54 during trading hours on Tuesday, hitting $85.57. The stock had a trading volume of 622,819 shares, compared to its average volume of 652,184. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.56 and a current ratio of 1.66. The firm has a market cap of $3.74 billion, a P/E ratio of 34.64 and a beta of 1.33. The company's fifty day simple moving average is $77.03 and its 200 day simple moving average is $85.86. Granite Construction Incorporated has a 12-month low of $58.23 and a 12-month high of $105.20.

Granite Construction (NYSE:GVA - Get Free Report) last announced its earnings results on Thursday, May 1st. The construction company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.43) by $0.44. The company had revenue of $699.55 million during the quarter, compared to the consensus estimate of $706.15 million. Granite Construction had a return on equity of 20.67% and a net margin of 3.15%. The firm's quarterly revenue was up 4.0% compared to the same quarter last year. Equities research analysts forecast that Granite Construction Incorporated will post 5.49 EPS for the current fiscal year.

Granite Construction Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a $0.13 dividend. The ex-dividend date was Monday, March 31st. This represents a $0.52 dividend on an annualized basis and a yield of 0.61%. Granite Construction's dividend payout ratio (DPR) is 21.67%.

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.