Granite Construction Incorporated (NYSE:GVA) Shares Bought by Xponance Inc.

Xponance Inc. grew its position in Granite Construction Incorporated (NYSE:GVA) by 9.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 3,168 shares of the construction company’s stock after buying an additional 285 shares during the quarter. Xponance Inc.’s holdings in Granite Construction were worth $278,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC purchased a new position in Granite Construction during the fourth quarter worth approximately $89,000. Smartleaf Asset Management LLC lifted its stake in Granite Construction by 193.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,345 shares of the construction company’s stock worth $119,000 after purchasing an additional 887 shares in the last quarter. KBC Group NV boosted its holdings in Granite Construction by 26.6% during the 4th quarter. KBC Group NV now owns 1,751 shares of the construction company’s stock valued at $154,000 after acquiring an additional 368 shares during the period. GAMMA Investing LLC boosted its stake in shares of 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 purchasing an additional 171 shares during the period. Finally, Point72 DIFC Ltd purchased a new position in Granite Construction in the 3rd quarter valued at approximately $203,000.

Granite Construction Trading Down 1.9 %

GVA opened at $75.75 on Friday. Granite Construction Incorporated has a 12 month low of $52.99 and a 12 month high of $105.20. The stock has a market capitalization of $3.29 billion, a price-to-earnings ratio of 30.67 and a beta of 1.34. 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 $82.91 and a 200 day moving average price of $86.17.

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

Granite Construction Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 0.69%. The ex-dividend date is Monday, March 31st. Granite Construction’s payout ratio is 21.05%.

Insiders Place Their Bets

In related news, SVP Brian R. Dowd sold 2,025 shares of Granite Construction stock in a transaction on Friday, February 28th. The shares were sold at an average price of $81.55, for a total value of $165,138.75. Following the transaction, the senior vice president now directly owns 13,880 shares in the company, valued at $1,131,914. This trade represents a 12.73 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO James A. Radich sold 2,500 shares of Granite Construction 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 directly owns 28,256 shares in the company, valued at approximately $2,462,227.84. The trade was a 8.13 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.81% of the company’s stock.

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.