ExodusPoint Capital Management LP Purchases Shares of 66,660 Granite Construction Incorporated (NYSE:GVA)

ExodusPoint Capital Management LP acquired a new stake in Granite Construction Incorporated (NYSE:GVA) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 66,660 shares of the construction company’s stock, valued at approximately $5,847,000. ExodusPoint Capital Management LP owned approximately 0.15% of Granite Construction at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Steward Partners Investment Advisory LLC bought a new position in Granite Construction in the 4th quarter valued at about $89,000. Smartleaf Asset Management LLC raised its stake in shares of Granite Construction by 193.7% in 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 during the last quarter. KBC Group NV lifted its holdings in shares of Granite Construction by 26.6% in the fourth quarter. KBC Group NV now owns 1,751 shares of the construction company’s stock valued at $154,000 after purchasing an additional 368 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Granite Construction by 8.5% during the fourth quarter. GAMMA Investing LLC now owns 2,178 shares of the construction company’s stock valued at $191,000 after buying an additional 171 shares during the last quarter. Finally, R Squared Ltd bought a new stake in Granite Construction during the fourth quarter worth $211,000.

Granite Construction Price Performance

Shares of NYSE:GVA opened at $71.85 on Friday. Granite Construction Incorporated has a 1-year low of $52.99 and a 1-year high of $105.20. The company has a current ratio of 1.66, a quick ratio of 1.56 and a debt-to-equity ratio of 0.68. The stock has a market cap of $3.12 billion, a PE ratio of 29.09 and a beta of 1.26. The stock’s fifty day simple moving average is $80.79 and its two-hundred day simple moving average is $86.28.

Granite Construction (NYSE:GVA) last released its quarterly earnings results on Thursday, February 13th. The construction company reported $1.23 earnings per share for the quarter, missing the consensus estimate 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 quarter in the previous year, the business posted $0.82 EPS. As a group, analysts forecast that Granite Construction Incorporated will post 5.49 EPS for the current fiscal year.

Granite Construction Announces Dividend

The firm 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 0.72%. The ex-dividend date of this dividend is Monday, March 31st. Granite Construction’s dividend payout ratio is presently 21.05%.

Insider Buying and Selling

In related news, COO James A. Radich sold 2,500 shares of the 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 transaction, the chief operating officer now owns 28,256 shares in the company, valued at approximately $2,462,227.84. This represents a 8.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Brian R. Dowd sold 2,025 shares of Granite Construction 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 completion of the sale, the senior vice president now directly owns 13,880 shares in the company, valued at approximately $1,131,914. This represents a 12.73 % decrease in their position. The disclosure for this sale can be found here. 0.81% of the stock is currently 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.