Mercer Global Advisors Inc. ADV Has $1.17 Million Holdings in Granite Construction Incorporated (NYSE:GVA)

Mercer Global Advisors Inc. ADV increased its position in Granite Construction Incorporated (NYSE:GVA - Free Report) by 119.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,297 shares of the construction company's stock after purchasing an additional 7,239 shares during the period. Mercer Global Advisors Inc. ADV's holdings in Granite Construction were worth $1,166,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of GVA. Pacer Advisors Inc. bought a new position in shares of Granite Construction in the fourth quarter valued at $92,154,000. Hennessy Advisors Inc. bought a new position in Granite Construction in the 4th quarter valued at about $61,046,000. Norges Bank acquired a new position in Granite Construction during the 4th quarter valued at about $31,855,000. First Trust Advisors LP increased its holdings in Granite Construction by 35.1% during the 4th quarter. First Trust Advisors LP now owns 1,131,419 shares of the construction company's stock worth $99,237,000 after purchasing an additional 294,200 shares in the last quarter. Finally, Voya Investment Management LLC raised its stake in shares of Granite Construction by 1,058.0% in the fourth quarter. Voya Investment Management LLC now owns 214,777 shares of the construction company's stock worth $18,838,000 after purchasing an additional 196,229 shares during the last quarter.

Wall Street Analysts Forecast Growth

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

Granite Construction Stock Performance

Shares of GVA stock opened at $82.56 on Friday. Granite Construction Incorporated has a one year low of $58.23 and a one year high of $105.20. The company has a market cap of $3.61 billion, a P/E ratio of 33.43 and a beta of 1.33. The firm has a 50-day moving average of $76.94 and a 200-day moving average of $85.80. 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 earnings results on Thursday, May 1st. The construction company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.43) by $0.44. The firm had revenue of $699.55 million for the quarter, compared to analysts' expectations of $706.15 million. Granite Construction had a net margin of 3.15% and a return on equity of 20.67%. The business's quarterly revenue was up 4.0% on a year-over-year basis. Equities research analysts forecast that Granite Construction Incorporated will post 5.49 EPS for the current fiscal year.

Granite Construction Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 0.63%. The ex-dividend date of this dividend was Monday, March 31st. Granite Construction's dividend payout ratio is presently 21.67%.

Insider Transactions at Granite Construction

In related news, CEO Kyle T. Larkin sold 3,617 shares of the company'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 transaction, the chief executive officer now owns 132,366 shares in the company, valued at approximately $10,639,579.08. This represents a 2.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Brian R. Dowd sold 2,025 shares of the firm's 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 directly owns 13,880 shares of the company's stock, valued at $1,131,914. This represents a 12.73 % 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 in the last ninety days. Company insiders own 0.81% of the company's stock.

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.

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