MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Buys 28,245 Shares of Granite Construction Incorporated (NYSE:GVA)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Granite Construction Incorporated (NYSE:GVA - Free Report) by 5.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 530,971 shares of the construction company's stock after purchasing an additional 28,245 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 1.21% of Granite Construction worth $46,572,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Federated Hermes Inc. bought a new stake in Granite Construction during the 4th quarter valued at $26,000. Quarry LP grew its position in Granite Construction by 68.4% during the fourth quarter. Quarry LP now owns 325 shares of the construction company's stock worth $29,000 after buying an additional 132 shares in the last quarter. Aster Capital Management DIFC Ltd raised its stake in shares of Granite Construction by 112.8% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 900 shares of the construction company's stock valued at $79,000 after buying an additional 477 shares in the last quarter. Steward Partners Investment Advisory LLC bought a new position in Granite Construction in the 4th quarter valued at $89,000. Finally, Smartleaf Asset Management LLC grew its holdings in Granite Construction by 193.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,345 shares of the construction company's stock worth $119,000 after acquiring an additional 887 shares during the period.

Granite Construction Stock Down 0.4%

GVA traded down $0.32 during midday trading on Monday, reaching $86.71. 34,461 shares of the company were exchanged, compared to its average volume of 651,388. Granite Construction Incorporated has a one year low of $58.23 and a one year high of $105.20. 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 company's fifty day moving average price is $78.07 and its 200 day moving average price is $85.95. The company has a market cap of $3.79 billion, a price-to-earnings ratio of 35.10 and a beta of 1.33.

Granite Construction (NYSE:GVA - Get Free Report) last released its earnings results on Thursday, May 1st. The construction company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.43) by $0.44. The firm had revenue of $699.55 million during the quarter, compared to analyst estimates of $706.15 million. Granite Construction had a net margin of 3.15% and a return on equity of 20.67%. The firm's revenue was up 4.0% compared to the same quarter last year. As a group, analysts expect that Granite Construction Incorporated will post 5.49 EPS for the current 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 given a dividend of $0.13 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.52 annualized dividend and a yield of 0.60%. Granite Construction's dividend payout ratio is presently 21.67%.

Wall Street Analyst Weigh In

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

Insider Activity

In other news, COO James A. Radich sold 2,500 shares of Granite Construction stock in a transaction 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 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, SVP Brian R. Dowd sold 2,025 shares of the stock in a transaction that occurred 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 sale, the senior vice president now owns 13,880 shares in the company, valued at $1,131,914. The trade was a 12.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,932 shares of company stock worth $896,979 over the last 90 days. 0.81% of the stock is currently owned by company insiders.

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.