Granite Construction Incorporated (NYSE:GVA) Shares Sold by AlphaQuest LLC

AlphaQuest LLC lowered its position in Granite Construction Incorporated (NYSE:GVA) by 29.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 16,245 shares of the construction company’s stock after selling 6,795 shares during the quarter. AlphaQuest LLC’s holdings in Granite Construction were worth $1,425,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Amundi raised its stake in shares of Granite Construction by 191.9% in the 4th quarter. Amundi now owns 22,449 shares of the construction company’s stock valued at $1,984,000 after purchasing an additional 14,758 shares in the last quarter. Dorsey & Whitney Trust CO LLC raised its stake in shares of Granite Construction by 1.4% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 10,376 shares of the construction company’s stock valued at $910,000 after purchasing an additional 139 shares in the last quarter. Aigen Investment Management LP acquired a new stake in shares of Granite Construction in the 4th quarter valued at about $573,000. Proficio Capital Partners LLC acquired a new stake in shares of Granite Construction in the 4th quarter valued at about $3,170,000. Finally, Steward Partners Investment Advisory LLC acquired a new stake in shares of Granite Construction in the 4th quarter valued at about $89,000.

Granite Construction Stock Performance

Shares of Granite Construction stock opened at $73.87 on Monday. The firm has a market cap of $3.21 billion, a PE ratio of 29.91 and a beta of 1.34. The firm’s 50-day simple moving average is $86.87 and its 200-day simple moving average is $86.20. 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 Incorporated has a 1 year low of $52.88 and a 1 year high of $105.20.

Granite Construction (NYSE:GVA) last issued its earnings results on Thursday, February 13th. The construction company reported $1.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.19). The company 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 previous year, the business posted $0.82 EPS. Equities analysts forecast that Granite Construction Incorporated will post 5.49 earnings per share for the current fiscal year.

Granite Construction Announces Dividend

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

Insider Activity at Granite Construction

In related 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 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 $2,462,227.84. This represents a 8.13 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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 sale, the senior vice president now directly owns 13,880 shares of the company’s stock, valued at approximately $1,131,914. This represents a 12.73 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.81% of the company’s stock.

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.