Wolverine Asset Management LLC Makes New Investment in Granite Construction Incorporated (NYSE:GVA)

Wolverine Asset Management LLC acquired a new position in shares of Granite Construction Incorporated (NYSE:GVA) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 33,605 shares of the construction company’s stock, valued at approximately $2,947,000. Wolverine Asset Management LLC owned 0.08% of Granite Construction as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of GVA. Pacer Advisors Inc. purchased a new position in shares of Granite Construction in the 4th quarter valued at $92,154,000. Hennessy Advisors Inc. purchased a new position in shares of Granite Construction in the 4th quarter valued at $61,046,000. Fisher Asset Management LLC increased its holdings in shares of Granite Construction by 86.4% in the 3rd quarter. Fisher Asset Management LLC now owns 363,816 shares of the construction company’s stock valued at $28,843,000 after acquiring an additional 168,673 shares during the period. Brightline Capital Management LLC acquired a new stake in shares of Granite Construction in the 3rd quarter worth $11,971,000. Finally, Peregrine Asset Advisers Inc. acquired a new stake in shares of Granite Construction in the 3rd quarter worth $4,616,000.

Insider Transactions at Granite Construction

In other Granite Construction news, COO James A. Radich sold 2,500 shares of Granite Construction stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $87.14, for a total transaction of $217,850.00. Following the completion of the sale, the chief operating officer now owns 28,256 shares of the company’s stock, valued at approximately $2,462,227.84. The trade was a 8.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.81% of the company’s stock.

Granite Construction Stock Down 2.9 %

Granite Construction stock opened at $82.15 on Friday. 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 stock has a market capitalization of $3.57 billion, a price-to-earnings ratio of 33.26 and a beta of 1.42. Granite Construction Incorporated has a 1-year low of $48.11 and a 1-year high of $105.20. The business has a fifty day moving average price of $89.01 and a 200-day moving average price of $85.25.

Granite Construction (NYSE:GVA) last posted its quarterly earnings data 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 return on equity of 20.67% and a net margin of 3.15%. During the same period last year, the firm earned $0.82 earnings per share. Equities research analysts forecast that Granite Construction Incorporated will post 5.49 EPS for the current fiscal year.

Granite Construction Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders 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 dividend yield of 0.63%. Granite Construction’s payout ratio is 21.05%.

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.