Price T Rowe Associates Inc. MD Acquires 3,130 Shares of Granite Construction Incorporated (NYSE:GVA)

Price T Rowe Associates Inc. MD grew its holdings in shares of Granite Construction Incorporated (NYSE:GVA - Free Report) by 8.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 41,787 shares of the construction company's stock after purchasing an additional 3,130 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 0.10% of Granite Construction worth $3,666,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in GVA. Virtu Financial LLC bought a new position in shares of Granite Construction during the 3rd quarter worth $283,000. Tidal Investments LLC boosted its holdings in Granite Construction by 195.8% in the 3rd quarter. Tidal Investments LLC now owns 13,730 shares of the construction company's stock valued at $1,089,000 after purchasing an additional 9,089 shares during the period. GAMMA Investing LLC boosted its holdings in Granite Construction by 8.5% in the 4th quarter. GAMMA Investing LLC now owns 2,178 shares of the construction company's stock valued at $191,000 after purchasing an additional 171 shares during the period. Harbor Capital Advisors Inc. grew its position in shares of Granite Construction by 8.8% during the 4th quarter. Harbor Capital Advisors Inc. now owns 19,946 shares of the construction company's stock valued at $1,749,000 after purchasing an additional 1,620 shares in the last quarter. Finally, Fiduciary Financial Group LLC purchased a new stake in shares of Granite Construction in the fourth quarter worth $545,000.

Granite Construction Price Performance

NYSE:GVA opened at $81.00 on Monday. The firm has a market capitalization of $3.54 billion, a price-to-earnings ratio of 32.79 and a beta of 1.26. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.56 and a current ratio of 1.66. The stock has a fifty day moving average of $76.85 and a 200 day moving average of $85.86. 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 announced its quarterly earnings data on Thursday, May 1st. The construction company reported $0.01 earnings per share for the quarter, beating analysts' consensus estimates of ($0.43) by $0.44. The company had revenue of $699.55 million for the quarter, compared to analysts' expectations of $706.15 million. Granite Construction had a return on equity of 20.67% and a net margin of 3.15%. Granite Construction's quarterly revenue was up 4.0% on a year-over-year basis. On average, research analysts expect that Granite Construction Incorporated will post 5.49 EPS for the current fiscal year.

Granite Construction Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a $0.13 dividend. The ex-dividend date was Monday, March 31st. This represents a $0.52 annualized dividend and a yield of 0.64%. Granite Construction's payout ratio is currently 21.05%.

Insider Activity

In other news, COO James A. Radich sold 2,500 shares of Granite Construction 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 in the company, valued at approximately $2,462,227.84. This trade represents a 8.13 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Kyle T. Larkin sold 3,617 shares of the company's stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $80.38, for a total value of $290,734.46. Following the transaction, the chief executive officer now owns 132,366 shares of the company's stock, valued at approximately $10,639,579.08. This represents a 2.66 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,932 shares of company stock valued at $896,979. 0.81% of the stock is currently owned by company 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.

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