Advisors Asset Management Inc. Grows Position in Granite Construction Incorporated (NYSE:GVA)

Advisors Asset Management Inc. lifted its position in shares of Granite Construction Incorporated (NYSE:GVA) by 15.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 106,602 shares of the construction company’s stock after acquiring an additional 14,651 shares during the period. Advisors Asset Management Inc.’s holdings in Granite Construction were worth $9,350,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. William Blair Investment Management LLC grew its position in Granite Construction by 2.5% during the fourth quarter. William Blair Investment Management LLC now owns 339,167 shares of the construction company’s stock valued at $29,748,000 after buying an additional 8,230 shares during the period. Cibc World Markets Corp purchased a new stake in shares of Granite Construction during the 4th quarter worth about $361,000. Natixis Advisors LLC grew its position in shares of Granite Construction by 4.5% during the 4th quarter. Natixis Advisors LLC now owns 14,326 shares of the construction company’s stock valued at $1,257,000 after acquiring an additional 614 shares during the period. Commonwealth Equity Services LLC increased its stake in shares of Granite Construction by 3.8% in the 4th quarter. Commonwealth Equity Services LLC now owns 6,055 shares of the construction company’s stock valued at $531,000 after purchasing an additional 223 shares in the last quarter. Finally, RPg Family Wealth Advisory LLC raised its holdings in Granite Construction by 4.5% in the 4th quarter. RPg Family Wealth Advisory LLC now owns 54,789 shares of the construction company’s stock worth $4,813,000 after purchasing an additional 2,364 shares during the period.

Insider Buying and Selling

In other Granite Construction news, COO James A. Radich sold 2,500 shares of Granite Construction 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 of the company’s stock, valued at $2,462,227.84. The trade was a 8.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Brian R. Dowd sold 2,025 shares of the stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $81.55, for a total transaction of $165,138.75. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.81% of the company’s stock.

Granite Construction Stock Down 0.8 %

Shares of GVA opened at $73.19 on Wednesday. The firm has a market cap of $3.18 billion, a P/E ratio of 29.63 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. The stock’s 50 day moving average is $84.66 and its two-hundred day moving average is $86.15. 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 released its quarterly 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 company had revenue of $977.30 million during 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 prior year, the company earned $0.82 earnings per share. Analysts predict that Granite Construction Incorporated will post 5.49 earnings per share for the current fiscal year.

Granite Construction Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders 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 dividend yield of 0.71%. Granite Construction’s dividend payout ratio is currently 21.05%.

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.