Leeward Financial Partners LLC Purchases New Position in Granite Construction Incorporated (NYSE:GVA)

Leeward Financial Partners LLC purchased a new position in shares of Granite Construction Incorporated (NYSE:GVA) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 2,500 shares of the construction company’s stock, valued at approximately $219,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of GVA. HighTower Advisors LLC lifted its position in 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 period. Fiduciary Financial Group LLC purchased a new position in shares of Granite Construction in the 4th quarter valued at about $545,000. Pacer Advisors Inc. acquired a new stake in shares of Granite Construction in the fourth quarter valued at about $92,154,000. Teacher Retirement System of Texas grew its position in Granite Construction by 35.2% during the fourth quarter. Teacher Retirement System of Texas now owns 26,319 shares of the construction company’s stock worth $2,308,000 after buying an additional 6,852 shares during the period. Finally, Hennessy Advisors Inc. acquired a new stake in shares of Granite Construction during the fourth quarter valued at $61,046,000.

Granite Construction Stock Performance

Shares of NYSE GVA opened at $75.11 on Friday. The company has a 50-day simple moving average of $81.18 and a 200-day simple moving average of $86.25. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.66 and a quick ratio of 1.56. The company has a market cap of $3.26 billion, a PE ratio of 30.41 and a beta of 1.34. Granite Construction Incorporated has a 12 month low of $52.99 and a 12 month high of $105.20.

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

Granite Construction Dividend Announcement

The company 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 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 0.69%. Granite Construction’s payout ratio is currently 21.05%.

Insider Activity

In other 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 directly owns 28,256 shares in the company, valued at approximately $2,462,227.84. This represents a 8.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Brian R. Dowd sold 2,025 shares of the business’s stock in a transaction that occurred 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 transaction, the senior vice president now owns 13,880 shares of the company’s stock, valued at $1,131,914. This represents a 12.73 % decrease in their position. The disclosure for this sale can be found here. 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.