Granite Construction Incorporated (NYSE:GVA) Shares Purchased by Virtu Financial LLC

Virtu Financial LLC boosted its stake in shares of Granite Construction Incorporated (NYSE:GVA) by 25.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 4,468 shares of the construction company’s stock after purchasing an additional 904 shares during the quarter. Virtu Financial LLC’s holdings in Granite Construction were worth $392,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in GVA. Natixis Advisors LLC boosted its stake in shares of Granite Construction by 6.2% during the 3rd quarter. Natixis Advisors LLC now owns 13,712 shares of the construction company’s stock worth $1,087,000 after acquiring an additional 806 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in Granite Construction by 20.4% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 14,354 shares of the construction company’s stock worth $1,138,000 after purchasing an additional 2,433 shares in the last quarter. Intech Investment Management LLC purchased a new stake in Granite Construction during the third quarter worth $1,312,000. Raymond James Trust N.A. acquired a new stake in Granite Construction in the third quarter valued at $239,000. Finally, Algert Global LLC increased its position in shares of Granite Construction by 560.9% in the third quarter. Algert Global LLC now owns 29,292 shares of the construction company’s stock valued at $2,322,000 after buying an additional 24,860 shares in the last quarter.

Granite Construction Price Performance

Granite Construction stock opened at $77.29 on Thursday. The firm has a market capitalization of $3.36 billion, a PE ratio of 31.29 and a beta of 1.34. 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 $83.24 and its 200 day simple moving average is $86.24. 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 announced its quarterly earnings results on Thursday, February 13th. The construction company reported $1.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.42 by ($0.19). Granite Construction had a net margin of 3.15% and a return on equity of 20.67%. The business had revenue of $977.30 million during the quarter. During the same quarter in the previous year, the business earned $0.82 earnings per share. On average, equities research analysts predict that Granite Construction Incorporated will post 5.49 EPS for the current fiscal year.

Granite Construction Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.13 per share. The ex-dividend date is Monday, March 31st. This represents a $0.52 dividend on an annualized basis and a yield of 0.67%. Granite Construction’s dividend payout ratio (DPR) is currently 21.05%.

Insiders Place Their Bets

In other news, 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 transaction of $165,138.75. Following the sale, the senior vice president now owns 13,880 shares in the company, valued at $1,131,914. This trade represents a 12.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO James A. Radich sold 2,500 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $87.14, for a total value of $217,850.00. Following the completion of the transaction, the chief operating officer now owns 28,256 shares of the company’s stock, valued at $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 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.