Teacher Retirement System of Texas Purchases 6,852 Shares of Granite Construction Incorporated (NYSE:GVA)

Teacher Retirement System of Texas grew its position in Granite Construction Incorporated (NYSE:GVA) by 35.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 26,319 shares of the construction company’s stock after purchasing an additional 6,852 shares during the quarter. Teacher Retirement System of Texas’ holdings in Granite Construction were worth $2,308,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of GVA. Steward Partners Investment Advisory LLC bought a new stake in Granite Construction during the fourth quarter valued at $89,000. Smartleaf Asset Management LLC boosted its position 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 purchasing an additional 887 shares in the last quarter. KBC Group NV boosted its position 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 purchasing an additional 368 shares in the last quarter. GAMMA Investing LLC increased its holdings in Granite Construction by 8.5% in the fourth quarter. GAMMA Investing LLC now owns 2,178 shares of the construction company’s stock worth $191,000 after purchasing an additional 171 shares in the last quarter. Finally, R Squared Ltd acquired a new position in Granite Construction in the fourth quarter valued at approximately $211,000.

Granite Construction Price Performance

Granite Construction stock opened at $77.29 on Thursday. The stock’s 50 day moving average price is $83.24 and its two-hundred day moving average price is $86.24. The stock has a market capitalization of $3.36 billion, a price-to-earnings ratio of 31.29 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.

Granite Construction (NYSE:GVA) last posted its quarterly earnings results on Thursday, February 13th. The construction company reported $1.23 EPS for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.19). Granite Construction had a return on equity of 20.67% and a net margin of 3.15%. The company had revenue of $977.30 million during the quarter. During the same period last year, the firm earned $0.82 EPS. On average, equities analysts predict that Granite Construction Incorporated will post 5.49 earnings per share for the current year.

Granite Construction Dividend Announcement

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

Insiders Place Their Bets

In related news, COO James A. Radich sold 2,500 shares of the stock in a transaction 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 transaction, the chief operating officer now directly owns 28,256 shares in the company, valued at $2,462,227.84. This trade represents a 8.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 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. This trade represents a 12.73 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.81% of the company’s stock.

About Granite Construction

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.