Granite Construction Incorporated (NYSE:GVA) Shares Acquired by Invesco Ltd.

Invesco Ltd. boosted its stake in shares of Granite Construction Incorporated (NYSE:GVA - Free Report) by 22.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 580,584 shares of the construction company's stock after acquiring an additional 105,420 shares during the period. Invesco Ltd. owned 1.33% of Granite Construction worth $50,923,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of GVA. Federated Hermes Inc. purchased a new stake in Granite Construction during the fourth quarter valued at approximately $26,000. Aster Capital Management DIFC Ltd lifted its stake in Granite Construction by 112.8% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 900 shares of the construction company's stock worth $79,000 after purchasing an additional 477 shares during the last quarter. Steward Partners Investment Advisory LLC purchased a new position in shares of Granite Construction during the fourth quarter valued at approximately $89,000. Smartleaf Asset Management LLC grew its stake in shares of Granite Construction by 193.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,345 shares of the construction company's stock valued at $119,000 after buying an additional 887 shares during the last quarter. Finally, KBC Group NV raised its holdings in shares of Granite Construction by 26.6% in the fourth quarter. KBC Group NV now owns 1,751 shares of the construction company's stock worth $154,000 after buying an additional 368 shares during the period.

Granite Construction Trading Down 1.8 %

Shares of NYSE:GVA traded down $1.41 on Monday, hitting $75.84. 10,105 shares of the company's stock were exchanged, compared to its average volume of 634,069. The stock has a market capitalization of $3.29 billion, a price-to-earnings ratio of 30.74 and a beta of 1.26. Granite Construction Incorporated has a 12 month low of $53.16 and a 12 month high of $105.20. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.66 and a quick ratio of 1.56. The business's 50 day simple moving average is $78.03 and its two-hundred day simple moving average is $86.00.

Granite Construction (NYSE:GVA - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The construction company reported $1.23 earnings per share for the quarter, missing analysts' consensus estimates of $1.42 by ($0.19). The company had revenue of $977.30 million for the quarter. Granite Construction had a net margin of 3.15% and a return on equity of 20.67%. During the same period last year, the firm earned $0.82 EPS. Analysts anticipate that Granite Construction Incorporated will post 5.49 EPS for the current fiscal year.

Granite Construction Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a $0.13 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.52 annualized dividend and a dividend yield of 0.69%. Granite Construction's payout ratio is currently 21.05%.

Insider Buying and Selling

In other Granite Construction news, COO James A. Radich sold 2,500 shares of the business's stock in a transaction dated 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Brian R. Dowd sold 2,025 shares of Granite Construction stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $81.55, for a total transaction of $165,138.75. Following the completion of the transaction, the senior vice president now directly owns 13,880 shares in the company, valued at approximately $1,131,914. The trade was a 12.73 % decrease in their position. The disclosure for this sale can be found here. 0.81% of the stock is owned by insiders.

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.