Granite Construction Incorporated (NYSE:GVA) Shares Sold by Inceptionr LLC

Inceptionr LLC trimmed its position in Granite Construction Incorporated (NYSE:GVA) by 49.0% during the 4th quarter, Holdings Channel.com reports. The fund owned 3,329 shares of the construction company’s stock after selling 3,202 shares during the period. Inceptionr LLC’s holdings in Granite Construction were worth $292,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Aigen Investment Management LP purchased a new stake in Granite Construction during the 4th quarter valued at about $573,000. Proficio Capital Partners LLC acquired a new stake in shares of Granite Construction during the fourth quarter worth about $3,170,000. Steward Partners Investment Advisory LLC purchased a new stake in Granite Construction in the fourth quarter valued at approximately $89,000. Smartleaf Asset Management LLC increased its holdings in Granite Construction by 193.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,345 shares of the construction company’s stock worth $119,000 after buying an additional 887 shares during the period. Finally, US Bancorp DE raised its position in Granite Construction by 56.4% during the 4th quarter. US Bancorp DE now owns 4,270 shares of the construction company’s stock worth $375,000 after buying an additional 1,540 shares during the last quarter.

Granite Construction Stock Performance

Shares of NYSE GVA opened at $73.87 on Monday. The stock has a market cap of $3.21 billion, a price-to-earnings ratio of 29.91 and a beta of 1.34. Granite Construction Incorporated has a 12 month low of $52.88 and a 12 month high of $105.20. The company has a 50 day simple moving average of $86.87 and a two-hundred day simple moving average of $86.20. The company has a current ratio of 1.66, a quick ratio of 1.56 and a debt-to-equity ratio of 0.68.

Granite Construction (NYSE:GVA) last posted its earnings results 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 period in the previous year, the company earned $0.82 EPS. As a group, analysts predict that Granite Construction Incorporated will post 5.49 earnings per share for the current year.

Granite Construction Announces Dividend

The business 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. This represents a $0.52 annualized dividend and a yield of 0.70%. The ex-dividend date of this dividend was Tuesday, December 31st. Granite Construction’s dividend payout ratio (DPR) is 21.05%.

Insider Activity at Granite Construction

In related news, SVP Brian R. Dowd sold 2,025 shares of the business’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $81.55, for a total value of $165,138.75. Following the completion of the transaction, the senior vice president now directly owns 13,880 shares in the company, valued at $1,131,914. The trade was a 12.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO James A. Radich sold 2,500 shares of the firm’s 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 sale, 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 position. The disclosure for this sale can be found here. 0.81% of the stock is owned by company 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.