Susquehanna Fundamental Investments LLC Takes $1.58 Million Position in Granite Construction Incorporated (NYSE:GVA)

Susquehanna Fundamental Investments LLC purchased a new stake in Granite Construction Incorporated (NYSE:GVA - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 18,026 shares of the construction company's stock, valued at approximately $1,581,000.

A number of other large investors have also recently added to or reduced their stakes in GVA. Fiduciary Financial Group LLC acquired a new stake in Granite Construction in the fourth quarter valued at $545,000. Pacer Advisors Inc. acquired a new position in shares of Granite Construction during the 4th quarter valued at $92,154,000. Teacher Retirement System of Texas increased its holdings in shares of Granite Construction by 35.2% during the fourth quarter. Teacher Retirement System of Texas now owns 26,319 shares of the construction company's stock valued at $2,308,000 after acquiring an additional 6,852 shares in the last quarter. Norges Bank purchased a new position in shares of Granite Construction in the 4th quarter worth about $31,855,000. Finally, Hennessy Advisors Inc. bought a new stake in shares of Granite Construction in the fourth quarter valued at approximately $61,046,000.

Insider Activity at Granite Construction

In other Granite Construction news, 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 completion of the transaction, the chief executive officer now directly owns 132,366 shares in the company, valued at $10,639,579.08. This represents a 2.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO James A. Radich sold 2,500 shares of the business's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $87.14, for a total value of $217,850.00. Following the completion of the transaction, the chief operating officer now owns 28,256 shares in the company, valued at $2,462,227.84. The trade was a 8.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,932 shares of company stock worth $896,979 in the last 90 days. Company insiders own 0.81% of the company's stock.

Granite Construction Price Performance

GVA stock traded up $0.21 during mid-day trading on Tuesday, hitting $83.20. 70,567 shares of the stock were exchanged, compared to its average volume of 646,206. Granite Construction Incorporated has a 12 month low of $58.23 and a 12 month high of $105.20. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.66 and a quick ratio of 1.56. The business has a fifty day moving average price of $76.86 and a 200 day moving average price of $85.86. The stock has a market capitalization of $3.64 billion, a price-to-earnings ratio of 33.75 and a beta of 1.33.

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 the consensus estimate of ($0.43) by $0.44. Granite Construction had a return on equity of 20.67% and a net margin of 3.15%. The firm had revenue of $699.55 million during the quarter, compared to the consensus estimate of $706.15 million. The business's revenue was up 4.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Granite Construction Incorporated will post 5.49 EPS for the current year.

Granite Construction Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a $0.13 dividend. The ex-dividend date was Monday, March 31st. This represents a $0.52 annualized dividend and a dividend yield of 0.63%. Granite Construction's payout ratio is presently 21.67%.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group boosted their price objective on shares of Granite Construction from $69.00 to $76.00 and gave the company a "sell" rating in a research note 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.