Granite Construction Incorporated (NYSE:GVA) Stock Holdings Lessened by Fisher Asset Management LLC

Fisher Asset Management LLC trimmed its holdings in Granite Construction Incorporated (NYSE:GVA - Free Report) by 6.4% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 194,397 shares of the construction company's stock after selling 13,377 shares during the quarter. Fisher Asset Management LLC owned about 0.44% of Granite Construction worth $9,887,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. PNC Financial Services Group Inc. lifted its holdings in Granite Construction by 3.1% in the third quarter. PNC Financial Services Group Inc. now owns 8,192 shares of the construction company's stock valued at $311,000 after acquiring an additional 243 shares during the period. Toth Financial Advisory Corp grew its position in Granite Construction by 35.1% during the fourth quarter. Toth Financial Advisory Corp now owns 2,500 shares of the construction company's stock valued at $127,000 after buying an additional 650 shares during the period. Exchange Traded Concepts LLC purchased a new position in shares of Granite Construction during the 3rd quarter worth $27,000. GAMMA Investing LLC bought a new position in shares of Granite Construction in the fourth quarter worth about $43,000. Finally, Rock Point Advisors LLC lifted its stake in shares of Granite Construction by 0.9% during the 3rd quarter. Rock Point Advisors LLC now owns 138,430 shares of the construction company's stock valued at $5,263,000 after buying an additional 1,172 shares in the last quarter.

Insiders Place Their Bets

In related news, SVP Bradley Jay Williams sold 750 shares of the company's stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $61.21, for a total value of $45,907.50. Following the sale, the senior vice president now owns 7,423 shares in the company, valued at $454,361.83. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Louis E. Caldera sold 1,263 shares of Granite Construction stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $50.00, for a total transaction of $63,150.00. Following the completion of the transaction, the director now directly owns 8,528 shares in the company, valued at $426,400. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Bradley Jay Williams sold 750 shares of the company's stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $61.21, for a total value of $45,907.50. Following the completion of the sale, the senior vice president now owns 7,423 shares in the company, valued at approximately $454,361.83. The disclosure for this sale can be found here. Corporate insiders own 0.54% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on GVA shares. The Goldman Sachs Group raised their target price on shares of Granite Construction from $44.00 to $50.00 and gave the company a "sell" rating in a report on Tuesday, April 16th. DA Davidson lifted their price target on shares of Granite Construction from $60.00 to $64.00 and gave the stock a "buy" rating in a research note on Tuesday, February 27th.

Granite Construction Trading Down 0.4 %

Granite Construction stock traded down $0.22 during trading hours on Tuesday, hitting $59.56. The company had a trading volume of 946,792 shares, compared to its average volume of 379,948. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.51. The firm has a market cap of $2.63 billion, a P/E ratio of 101.39 and a beta of 1.45. The company has a 50-day moving average price of $54.85 and a two-hundred day moving average price of $49.40. Granite Construction Incorporated has a 1 year low of $33.74 and a 1 year high of $61.62.

Granite Construction (NYSE:GVA - Get Free Report) last issued its quarterly earnings data on Thursday, February 22nd. The construction company reported $0.82 earnings per share for the quarter, missing analysts' consensus estimates of $0.84 by ($0.02). Granite Construction had a return on equity of 14.91% and a net margin of 0.98%. The company had revenue of $933.70 million for the quarter. During the same period in the prior year, the business earned $0.56 EPS. On average, sell-side analysts anticipate that Granite Construction Incorporated will post 4.29 earnings per share for the current year.

Granite Construction Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend was Wednesday, March 27th. Granite Construction's dividend payout ratio is currently 88.14%.

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.