ExodusPoint Capital Management LP Invests $5.85 Million in Granite Construction Incorporated (NYSE:GVA)

ExodusPoint Capital Management LP acquired a new position in Granite Construction Incorporated (NYSE:GVA) in the 4th quarter, HoldingsChannel reports. The fund acquired 66,660 shares of the construction company’s stock, valued at approximately $5,847,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in GVA. Pacer Advisors Inc. purchased a new position in shares of Granite Construction in the fourth quarter worth about $92,154,000. Hennessy Advisors Inc. bought a new position in Granite Construction in the 4th quarter worth approximately $61,046,000. Norges Bank purchased a new position in Granite Construction in the 4th quarter valued at approximately $31,855,000. Trexquant Investment LP raised its holdings in Granite Construction by 343.7% during the 4th quarter. Trexquant Investment LP now owns 75,058 shares of the construction company’s stock valued at $6,583,000 after acquiring an additional 58,143 shares during the period. Finally, Asset Management One Co. Ltd. bought a new position in shares of Granite Construction in the fourth quarter worth $4,963,000.

Granite Construction Stock Performance

Shares of GVA opened at $71.85 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.56 and a current ratio of 1.66. The stock has a market capitalization of $3.12 billion, a price-to-earnings ratio of 29.09 and a beta of 1.26. Granite Construction Incorporated has a 52-week low of $52.99 and a 52-week high of $105.20. The stock’s 50-day simple moving average is $80.79 and its 200 day simple moving average is $86.28.

Granite Construction (NYSE:GVA) last issued its quarterly earnings data on Thursday, February 13th. The construction company reported $1.23 EPS for the quarter, missing the consensus estimate of $1.42 by ($0.19). Granite Construction had a net margin of 3.15% and a return on equity of 20.67%. The firm had revenue of $977.30 million for the quarter. During the same period in the prior year, the company posted $0.82 earnings per share. 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 will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a $0.13 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.72%. Granite Construction’s dividend payout ratio (DPR) is presently 21.05%.

Insider Activity at Granite Construction

In other Granite Construction news, SVP Brian R. Dowd sold 2,025 shares of the firm’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $81.55, for a total transaction of $165,138.75. Following the sale, the senior vice president now owns 13,880 shares in the company, valued at $1,131,914. This trade represents a 12.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO James A. Radich sold 2,500 shares of the company’s stock in a transaction dated Thursday, February 20th. The stock was 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 of the company’s stock, 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. 0.81% of the stock is owned by corporate insiders.

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.