Xponance Inc. Grows Stake in Granite Construction Incorporated (NYSE:GVA)

Xponance Inc. boosted its holdings in shares of Granite Construction Incorporated (NYSE:GVA) by 9.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm 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 quarter.

A number of other hedge funds have also recently modified their holdings of GVA. Pacer Advisors Inc. purchased a new stake in shares of Granite Construction during the fourth quarter worth about $92,154,000. Hill City Capital LP increased its stake in Granite Construction by 5.2% during the third quarter. Hill City Capital LP now owns 978,938 shares of the construction company’s stock worth $77,610,000 after acquiring an additional 48,440 shares during the last quarter. Hennessy Advisors Inc. bought a new stake in Granite Construction in the fourth quarter worth $61,046,000. Systematic Financial Management LP boosted its stake in shares of Granite Construction by 3.2% during the 3rd quarter. Systematic Financial Management LP now owns 604,950 shares of the construction company’s stock worth $47,960,000 after purchasing an additional 18,586 shares during the period. Finally, Boston Partners boosted its position in shares of Granite Construction by 2.7% during the fourth quarter. Boston Partners now owns 584,398 shares of the construction company’s stock valued at $51,813,000 after buying an additional 15,597 shares during the period.

Insider Activity at Granite Construction

In related news, SVP Brian R. Dowd sold 2,025 shares of the stock in a transaction on 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO James A. Radich sold 2,500 shares of the 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 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 ownership of the stock. The disclosure for this sale can be found here. 0.81% of the stock is owned by insiders.

Granite Construction Trading Down 1.9 %

GVA stock opened at $75.75 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 company has a market capitalization of $3.29 billion, a PE ratio of 30.67 and a beta of 1.34. The firm’s 50-day moving average is $82.91 and its 200 day moving average is $86.17. Granite Construction Incorporated has a 12 month low of $52.99 and a 12 month high of $105.20.

Granite Construction (NYSE:GVA) last released its quarterly earnings data 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 business had revenue of $977.30 million for 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 company posted $0.82 EPS. On average, research analysts anticipate that Granite Construction Incorporated will post 5.49 EPS for the current year.

Granite Construction Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.52 dividend on an annualized basis and a yield of 0.69%. 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.