Jane Street Group LLC Trims Stock Position in Granite Construction Incorporated (NYSE:GVA)

Jane Street Group LLC lowered its position in Granite Construction Incorporated (NYSE:GVA - Free Report) by 58.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 28,696 shares of the construction company's stock after selling 40,671 shares during the period. Jane Street Group LLC owned approximately 0.07% of Granite Construction worth $2,517,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Gallo Partners LP bought a new stake in shares of Granite Construction in the fourth quarter valued at about $1,491,000. Schonfeld Strategic Advisors LLC lifted its holdings in Granite Construction by 80.2% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 97,480 shares of the construction company's stock worth $8,550,000 after buying an additional 43,380 shares during the period. Lido Advisors LLC boosted its position in Granite Construction by 24.3% during the 4th quarter. Lido Advisors LLC now owns 4,844 shares of the construction company's stock valued at $426,000 after acquiring an additional 946 shares in the last quarter. Northern Trust Corp raised its position in shares of Granite Construction by 17.9% in the 4th quarter. Northern Trust Corp now owns 579,384 shares of the construction company's stock worth $50,818,000 after acquiring an additional 87,783 shares in the last quarter. Finally, Tudor Investment Corp ET AL lifted its stake in shares of Granite Construction by 108.8% during the 4th quarter. Tudor Investment Corp ET AL now owns 152,807 shares of the construction company's stock worth $13,403,000 after purchasing an additional 79,637 shares during the last quarter.

Granite Construction Stock Performance

NYSE:GVA traded up $0.45 during trading hours on Tuesday, hitting $87.23. 7,467 shares of the company were exchanged, compared to its average volume of 649,957. Granite Construction Incorporated has a 52-week low of $58.23 and a 52-week high of $105.20. The company's 50 day moving average price is $78.34 and its 200-day moving average price is $85.96. 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 stock has a market capitalization of $3.82 billion, a price-to-earnings ratio of 35.22 and a beta of 1.33.

Granite Construction (NYSE:GVA - Get Free Report) last announced its quarterly earnings data 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. The business had revenue of $699.55 million for the quarter, compared to analyst estimates of $706.15 million. Granite Construction had a return on equity of 20.67% and a net margin of 3.15%. Granite Construction's quarterly revenue was up 4.0% compared to the same quarter last year. As a group, research analysts forecast that Granite Construction Incorporated will post 5.49 earnings per share for the current year.

Granite Construction Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a $0.13 dividend. 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 0.60%. Granite Construction's payout ratio is currently 21.67%.

Insider Activity at Granite Construction

In other 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 value of $217,850.00. Following the completion of the sale, the chief operating officer now directly owns 28,256 shares in the company, valued at $2,462,227.84. The trade was a 8.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Kyle T. Larkin sold 3,617 shares of the stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $80.38, for a total value of $290,734.46. Following the transaction, the chief executive officer now directly owns 132,366 shares of the company's stock, valued at $10,639,579.08. The trade was a 2.66% decrease in their position. The disclosure for this sale can be found here. Insiders sold 10,932 shares of company stock worth $896,979 over the last three months. Company insiders own 0.81% of the company's stock.

Wall Street Analyst Weigh In

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

Granite Construction Company 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.