AlphaQuest LLC Lowers Stock Position in Granite Construction Incorporated (NYSE:GVA)

AlphaQuest LLC cut its stake in shares of Granite Construction Incorporated (NYSE:GVA) by 29.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 16,245 shares of the construction company’s stock after selling 6,795 shares during the period. AlphaQuest LLC’s holdings in Granite Construction were worth $1,425,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Steward Partners Investment Advisory LLC purchased a new stake in shares of Granite Construction during the 4th quarter valued at $89,000. Smartleaf Asset Management LLC grew its stake in shares of Granite Construction by 193.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,345 shares of the construction company’s stock valued at $119,000 after buying an additional 887 shares during the period. KBC Group NV grew its stake in shares of 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 buying an additional 368 shares during the period. GAMMA Investing LLC grew its stake in shares of Granite Construction by 8.5% during the 4th 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 period. Finally, R Squared Ltd purchased a new stake in shares of Granite Construction during the 4th quarter valued at $211,000.

Insider Activity at Granite Construction

In related news, COO James A. Radich sold 2,500 shares of Granite Construction stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $87.14, for a total transaction of $217,850.00. Following the transaction, the chief operating officer now 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 transaction of $165,138.75. Following the transaction, the senior vice president now owns 13,880 shares in the company, valued at $1,131,914. The trade was a 12.73 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.81% of the company’s stock.

Granite Construction Stock Down 3.0 %

Shares of NYSE GVA opened at $73.87 on Monday. Granite Construction Incorporated has a 52-week low of $52.88 and a 52-week high of $105.20. The firm has a fifty day moving average of $86.87 and a 200-day moving average of $86.20. The stock has a market capitalization of $3.21 billion, a PE ratio of 29.91 and a beta of 1.34. The company has a quick ratio of 1.56, a current ratio of 1.66 and a debt-to-equity ratio of 0.68.

Granite Construction (NYSE:GVA) last posted its 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). 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 last year, the firm earned $0.82 EPS. On average, analysts anticipate that Granite Construction Incorporated will post 5.49 EPS for the current year.

Granite Construction Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a dividend of $0.13 per share. The ex-dividend date was Tuesday, December 31st. This represents a $0.52 annualized dividend and a dividend yield of 0.70%. 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.