Granite Construction Incorporated (NYSE:GVA) Shares Bought by Quantbot Technologies LP

Quantbot Technologies LP raised its stake in Granite Construction Incorporated (NYSE:GVA) by 635.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 33,624 shares of the construction company’s stock after buying an additional 29,049 shares during the quarter. Quantbot Technologies LP’s holdings in Granite Construction were worth $2,949,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. HighTower Advisors LLC boosted its stake in Granite Construction by 176.4% in the third quarter. HighTower Advisors LLC now owns 15,092 shares of the construction company’s stock valued at $1,199,000 after acquiring an additional 9,631 shares during the period. Fiduciary Financial Group LLC acquired a new position in Granite Construction in the fourth quarter valued at approximately $545,000. Pacer Advisors Inc. acquired a new position in Granite Construction in the fourth quarter valued at approximately $92,154,000. RPg Family Wealth Advisory LLC acquired a new position in Granite Construction in the third quarter valued at approximately $4,163,000. Finally, Intech Investment Management LLC acquired a new position in Granite Construction in the third quarter valued at approximately $1,312,000.

Insider Activity

In related news, SVP Brian R. Dowd sold 2,025 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at $1,131,914. The trade was a 12.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO James A. Radich sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $87.14, for a total value of $217,850.00. Following the sale, the chief operating officer now directly 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 disclosure for this sale can be found here. Corporate insiders own 0.81% of the company’s stock.

Granite Construction Stock Performance

GVA opened at $76.13 on Friday. The business’s 50 day moving average is $83.95 and its 200-day moving average is $86.11. The stock has a market cap of $3.31 billion, a PE ratio of 30.82 and a beta of 1.34. 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 Incorporated has a twelve month low of $52.99 and a twelve month high of $105.20.

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 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 quarter in the previous year, the business posted $0.82 earnings per share. On average, analysts predict that Granite Construction Incorporated will post 5.49 earnings per share for the current year.

Granite Construction Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.13 per share. 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 0.68%. Granite Construction’s dividend payout ratio (DPR) is presently 21.05%.

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.