MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $46.57 Million Position in Granite Construction Incorporated (NYSE:GVA)

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

A number of other institutional investors have also modified their holdings of the stock. First Trust Advisors LP raised its stake in Granite Construction by 35.1% during the fourth quarter. First Trust Advisors LP now owns 1,131,419 shares of the construction company's stock worth $99,237,000 after acquiring an additional 294,200 shares during the period. Pacer Advisors Inc. bought a new position in shares of Granite Construction in the fourth quarter valued at approximately $92,154,000. Hennessy Advisors Inc. bought a new position in shares of Granite Construction in the fourth quarter valued at approximately $61,046,000. Boston Partners boosted its holdings in shares of Granite Construction by 2.7% in the fourth quarter. Boston Partners now owns 584,398 shares of the construction company's stock valued at $51,813,000 after acquiring an additional 15,597 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in Granite Construction by 22.2% during the fourth quarter. Invesco Ltd. now owns 580,584 shares of the construction company's stock worth $50,923,000 after buying an additional 105,420 shares in the last quarter.

Granite Construction Trading Up 0.8%

Granite Construction stock traded up $0.70 during midday trading on Friday, reaching $87.03. The stock had a trading volume of 511,864 shares, compared to its average volume of 652,133. The firm's fifty day simple moving average is $78.07 and its two-hundred day simple moving average is $85.91. Granite Construction Incorporated has a twelve month low of $58.23 and a twelve 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 firm has a market cap of $3.81 billion, a price-to-earnings ratio of 35.24 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, topping analysts' consensus estimates of ($0.43) by $0.44. Granite Construction had a net margin of 3.15% and a return on equity of 20.67%. The company had revenue of $699.55 million during the quarter, compared to the consensus estimate of $706.15 million. The company's revenue was up 4.0% on a year-over-year basis. Equities analysts anticipate that Granite Construction Incorporated will post 5.49 EPS for the current fiscal year.

Granite Construction Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a dividend of $0.13 per share. 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 dividend payout ratio is currently 21.67%.

Wall Street Analyst Weigh In

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

Insider Activity

In other Granite Construction news, COO James A. Radich sold 2,500 shares of the firm's stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $87.14, for a total value of $217,850.00. Following the sale, the chief operating officer now directly owns 28,256 shares in the company, valued at $2,462,227.84. This trade represents a 8.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Kyle T. Larkin sold 3,617 shares of the firm's stock in a transaction on Monday, April 28th. The stock was sold at an average price of $80.38, for a total transaction of $290,734.46. Following the completion of the sale, the chief executive officer now owns 132,366 shares in the company, valued at $10,639,579.08. This represents a 2.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,932 shares of company stock worth $896,979. 0.81% of the stock is owned by corporate insiders.

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.