PDT Partners LLC Has $1.14 Million Stock Position in Granite Construction Incorporated (NYSE:GVA)

PDT Partners LLC decreased its stake in shares of Granite Construction Incorporated (NYSE:GVA - Free Report) by 57.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,038 shares of the construction company's stock after selling 17,799 shares during the quarter. PDT Partners LLC's holdings in Granite Construction were worth $1,144,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Pacer Advisors Inc. bought a new position in shares of Granite Construction during the fourth quarter worth approximately $92,154,000. Hennessy Advisors Inc. bought a new stake in Granite Construction in the 4th quarter valued at about $61,046,000. Norges Bank acquired a new position in shares of Granite Construction during the 4th quarter worth approximately $31,855,000. First Trust Advisors LP increased its holdings in shares of 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 purchasing an additional 294,200 shares during the period. Finally, Voya Investment Management LLC raised its position in shares of Granite Construction by 1,058.0% in the fourth quarter. Voya Investment Management LLC now owns 214,777 shares of the construction company's stock valued at $18,838,000 after buying an additional 196,229 shares in the last quarter.

Insider Activity at Granite Construction

In other Granite Construction news, SVP Brian R. Dowd sold 2,025 shares of the company's stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $81.55, for a total value of $165,138.75. Following the completion of the transaction, the senior vice president now owns 13,880 shares of the company's stock, valued at $1,131,914. This represents a 12.73 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Kyle T. Larkin sold 2,790 shares of the stock in a transaction dated 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 transaction, the chief executive officer now owns 136,384 shares of the company's stock, valued at $10,913,447.68. This represents a 2.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 10,932 shares of company stock valued at $896,979 in the last quarter. Insiders own 0.81% of the company's stock.

Granite Construction Price Performance

Shares of NYSE GVA traded up $0.29 during trading hours on Tuesday, hitting $83.28. 140,240 shares of the stock were exchanged, compared to its average volume of 646,420. The company's fifty day simple moving average is $76.86 and its two-hundred day simple moving average is $85.86. The company has a market cap of $3.64 billion, a PE ratio of 33.74 and a beta of 1.33. Granite Construction Incorporated has a 1-year low of $58.23 and a 1-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.

Granite Construction (NYSE:GVA - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The construction company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.43) by $0.44. The business had revenue of $699.55 million for the quarter, compared to analyst estimates of $706.15 million. Granite Construction had a return on equity of 20.67% and a net margin of 3.15%. The firm's revenue for the quarter was up 4.0% compared to the same quarter last year. On average, sell-side analysts predict that Granite Construction Incorporated will post 5.49 EPS for the current year.

Granite Construction Dividend Announcement

The business also recently disclosed 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. This represents a $0.52 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date was Monday, March 31st. Granite Construction's dividend payout ratio is 21.67%.

Analyst Upgrades and Downgrades

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

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.