Occudo Quantitative Strategies LP Takes Position in Granite Construction Incorporated (NYSE:GVA)

Occudo Quantitative Strategies LP acquired a new stake in Granite Construction Incorporated (NYSE:GVA - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 8,145 shares of the construction company's stock, valued at approximately $714,000.

A number of other institutional investors also recently bought and sold shares of GVA. Millennium Management LLC increased its stake in Granite Construction by 11.0% during the 4th quarter. Millennium Management LLC now owns 2,651,676 shares of the construction company's stock valued at $232,579,000 after purchasing an additional 263,302 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Granite Construction by 5.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 530,971 shares of the construction company's stock worth $46,572,000 after purchasing an additional 28,245 shares during the last quarter. Jefferies Financial Group Inc. lifted its holdings in shares of Granite Construction by 22.5% during the fourth quarter. Jefferies Financial Group Inc. now owns 51,443 shares of the construction company's stock worth $4,512,000 after purchasing an additional 9,443 shares during the period. Gotham Asset Management LLC boosted its position in Granite Construction by 26.1% in the fourth quarter. Gotham Asset Management LLC now owns 14,326 shares of the construction company's stock valued at $1,257,000 after buying an additional 2,963 shares during the last quarter. Finally, Graham Capital Management L.P. boosted its position in Granite Construction by 83.7% in the fourth quarter. Graham Capital Management L.P. now owns 10,221 shares of the construction company's stock valued at $896,000 after buying an additional 4,657 shares during the last quarter.

Insiders Place Their Bets

In other Granite Construction news, COO James A. Radich sold 2,500 shares of the firm's stock in a transaction that occurred 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 sale, the chief operating officer now directly owns 28,256 shares of the company's stock, valued at approximately $2,462,227.84. This trade represents 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 accessible through this hyperlink. Also, CEO Kyle T. Larkin sold 2,790 shares of the business's stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $80.02, for a total value of $223,255.80. Following the completion of the sale, the chief executive officer now owns 136,384 shares of the company's stock, valued at $10,913,447.68. This trade represents a 2.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,932 shares of company stock worth $896,979. Company insiders own 0.81% of the company's stock.

Analyst Upgrades and Downgrades

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.

Granite Construction Stock Performance

Shares of GVA traded down $0.11 during mid-day trading on Tuesday, reaching $86.67. The company had a trading volume of 28,618 shares, compared to its average volume of 666,261. The stock has a 50 day moving average of $78.34 and a two-hundred day moving average of $85.96. The company has a quick ratio of 1.56, a current ratio of 1.66 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $3.79 billion, a P/E ratio of 35.09 and a beta of 1.33. Granite Construction Incorporated has a 52-week low of $58.23 and a 52-week high of $105.20.

Granite Construction (NYSE:GVA - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The construction company reported $0.01 EPS for the quarter, topping analysts' consensus estimates of ($0.43) by $0.44. The business 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 revenue was up 4.0% compared to the same quarter last year. On average, analysts expect that Granite Construction Incorporated will post 5.49 earnings per share for the current year.

Granite Construction Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a $0.13 dividend. The ex-dividend date was Monday, March 31st. This represents a $0.52 dividend on an annualized basis and a yield of 0.60%. Granite Construction's payout ratio is 21.67%.

About Granite Construction

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.