SG Americas Securities LLC cut its holdings in shares of Granite Construction Incorporated (NYSE:GVA - Free Report) by 87.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,313 shares of the construction company's stock after selling 22,359 shares during the period. SG Americas Securities LLC's holdings in Granite Construction were worth $168,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Granite Construction by 0.9% during the first quarter. Vanguard Group Inc. now owns 5,107,922 shares of the construction company's stock worth $167,539,000 after purchasing an additional 44,497 shares during the last quarter. State Street Corp lifted its stake in Granite Construction by 58.4% during the third quarter. State Street Corp now owns 2,764,283 shares of the construction company's stock worth $70,544,000 after purchasing an additional 1,019,112 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Granite Construction by 2.0% during the first quarter. Dimensional Fund Advisors LP now owns 2,390,934 shares of the construction company's stock worth $78,422,000 after purchasing an additional 47,937 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Granite Construction by 4.4% during the third quarter. Bank of New York Mellon Corp now owns 989,161 shares of the construction company's stock worth $37,608,000 after purchasing an additional 41,575 shares during the last quarter. Finally, Bank of America Corp DE lifted its stake in Granite Construction by 5.1% during the first quarter. Bank of America Corp DE now owns 918,536 shares of the construction company's stock worth $37,733,000 after purchasing an additional 44,227 shares during the last quarter.
Granite Construction Price Performance
Shares of NYSE:GVA traded down $0.73 during trading on Monday, hitting $54.61. 253,058 shares of the company were exchanged, compared to its average volume of 380,299. The business's 50 day moving average is $52.90 and its 200-day moving average is $47.49. The company has a market capitalization of $2.40 billion, a P/E ratio of 71.86 and a beta of 1.46. The company has a quick ratio of 1.49, a current ratio of 1.60 and a debt-to-equity ratio of 0.60. Granite Construction Incorporated has a 1-year low of $33.74 and a 1-year high of $57.93.
Granite Construction (NYSE:GVA - Get Free Report) last announced its quarterly earnings results on Thursday, February 22nd. The construction company reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.84 by ($0.02). The company had revenue of $933.70 million for the quarter. Granite Construction had a return on equity of 14.15% and a net margin of 1.24%. During the same period in the previous year, the business earned $0.56 EPS. Equities analysts forecast that Granite Construction Incorporated will post 4.29 earnings per share for the current year.
Granite Construction Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Thursday, March 28th will be issued a $0.13 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $0.52 dividend on an annualized basis and a yield of 0.95%. Granite Construction's payout ratio is 68.42%.
Insider Activity at Granite Construction
In related news, Director Louis E. Caldera sold 1,263 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $50.00, for a total value of $63,150.00. Following the completion of the sale, the director now directly owns 8,528 shares in the company, valued at $426,400. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.54% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
Separately, DA Davidson upped their price target on shares of Granite Construction from $60.00 to $64.00 and gave the stock a "buy" rating in a report on Tuesday, February 27th.
Get Our Latest Stock Report on GVA
Granite Construction Company Profile
(
Free Report)
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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