Smartleaf Asset Management LLC Buys 887 Shares of Granite Construction Incorporated (NYSE:GVA)

Smartleaf Asset Management LLC raised its stake in shares of Granite Construction Incorporated (NYSE:GVA) by 193.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 1,345 shares of the construction company’s stock after purchasing an additional 887 shares during the quarter. Smartleaf Asset Management LLC’s holdings in Granite Construction were worth $119,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in GVA. KBC Group NV increased its holdings in shares of Granite Construction by 26.6% during the 4th quarter. KBC Group NV now owns 1,751 shares of the construction company’s stock worth $154,000 after purchasing an additional 368 shares during the period. GAMMA Investing LLC increased its stake in Granite Construction by 8.5% in the fourth quarter. GAMMA Investing LLC now owns 2,178 shares of the construction company’s stock valued at $191,000 after acquiring an additional 171 shares during the period. Point72 DIFC Ltd bought a new stake in Granite Construction in the third quarter valued at about $203,000. R Squared Ltd bought a new stake in Granite Construction in the fourth quarter valued at about $211,000. Finally, CIBC Asset Management Inc bought a new stake in Granite Construction in the third quarter valued at about $214,000.

Insider Buying and Selling at Granite Construction

In other Granite Construction news, 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 transaction, the chief operating officer now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Brian R. Dowd sold 2,025 shares of the business’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $81.55, for a total transaction of $165,138.75. Following the completion of the transaction, the senior vice president now owns 13,880 shares in the company, valued at approximately $1,131,914. This trade represents a 12.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.81% of the company’s stock.

Granite Construction Stock Performance

NYSE GVA opened at $73.87 on Friday. The stock has a market cap of $3.21 billion, a P/E ratio of 29.91 and a beta of 1.34. The company’s 50-day simple moving average is $87.17 and its 200 day simple moving average is $85.97. Granite Construction Incorporated has a twelve month low of $52.88 and a twelve month high of $105.20. The company has a quick ratio of 1.56, a current ratio of 1.66 and a debt-to-equity ratio of 0.68.

Granite Construction (NYSE:GVA) last posted its earnings results on Thursday, February 13th. The construction company reported $1.23 earnings per share for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.19). The business had revenue of $977.30 million during the quarter. Granite Construction had a net margin of 3.15% and a return on equity of 20.67%. During the same quarter in the prior year, the firm posted $0.82 earnings per share. As a group, research analysts forecast that Granite Construction Incorporated will post 5.49 earnings per share for the current fiscal year.

Granite Construction Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a $0.13 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.52 dividend on an annualized basis and a yield of 0.70%. Granite Construction’s dividend payout ratio (DPR) is presently 21.05%.

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.