Orion Portfolio Solutions LLC Sells 890 Shares of Granite Construction Incorporated (NYSE:GVA)

Orion Portfolio Solutions LLC lowered its position in Granite Construction Incorporated (NYSE:GVA) by 3.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,856 shares of the construction company’s stock after selling 890 shares during the quarter. Orion Portfolio Solutions LLC owned approximately 0.05% of Granite Construction worth $2,005,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. HighTower Advisors LLC increased its holdings in shares of Granite Construction by 176.4% during the 3rd quarter. HighTower Advisors LLC now owns 15,092 shares of the construction company’s stock worth $1,199,000 after acquiring an additional 9,631 shares during the last quarter. Fiduciary Financial Group LLC acquired a new position in shares of Granite Construction in the fourth quarter valued at $545,000. Pacer Advisors Inc. bought a new position in shares of Granite Construction in the fourth quarter valued at about $92,154,000. Teacher Retirement System of Texas raised its position in shares of Granite Construction by 35.2% in the fourth quarter. Teacher Retirement System of Texas now owns 26,319 shares of the construction company’s stock valued at $2,308,000 after purchasing an additional 6,852 shares during the period. Finally, Hennessy Advisors Inc. acquired a new stake in shares of Granite Construction during the 4th quarter worth about $61,046,000.

Granite Construction Stock Up 2.2 %

Shares of GVA opened at $77.98 on Thursday. The firm has a market cap of $3.39 billion, a P/E ratio of 31.57 and a beta of 1.34. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.56 and a current ratio of 1.66. Granite Construction Incorporated has a 52 week low of $52.99 and a 52 week high of $105.20. The firm’s 50-day simple moving average is $81.54 and its 200 day simple moving average is $86.33.

Granite Construction (NYSE:GVA) last announced its earnings results on Thursday, February 13th. The construction company reported $1.23 earnings per share for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.19). The firm had revenue of $977.30 million for the quarter. Granite Construction had a return on equity of 20.67% and a net margin of 3.15%. During the same quarter in the prior year, the business posted $0.82 EPS. On average, analysts forecast that Granite Construction Incorporated will post 5.49 earnings per share for the current 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 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 0.67%. Granite Construction’s payout ratio is presently 21.05%.

Insider Activity at Granite Construction

In related news, COO James A. Radich sold 2,500 shares of the stock in a transaction that occurred on 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 owns 28,256 shares of the company’s stock, valued at $2,462,227.84. This represents a 8.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Brian R. Dowd sold 2,025 shares of the firm’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $81.55, for a total value of $165,138.75. Following the transaction, the senior vice president now owns 13,880 shares in the company, valued at approximately $1,131,914. This trade 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 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.