Golden State Wealth Management LLC Takes $384,000 Position in Granite Construction Incorporated (NYSE:GVA)

Golden State Wealth Management LLC bought a new position in Granite Construction Incorporated (NYSE:GVA) during the fourth quarter, HoldingsChannel reports. The fund bought 4,376 shares of the construction company’s stock, valued at approximately $384,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. HighTower Advisors LLC raised its stake in shares of Granite Construction by 176.4% in the third quarter. HighTower Advisors LLC now owns 15,092 shares of the construction company’s stock worth $1,199,000 after buying an additional 9,631 shares during the period. Fiduciary Financial Group LLC purchased a new stake in Granite Construction in the 4th quarter worth approximately $545,000. Pacer Advisors Inc. bought a new stake in Granite Construction during the 4th quarter worth approximately $92,154,000. RPg Family Wealth Advisory LLC purchased a new position in Granite Construction during the third quarter valued at approximately $4,163,000. Finally, GAMMA Investing LLC boosted its position in shares of Granite Construction by 82.5% in the third quarter. GAMMA Investing LLC now owns 2,007 shares of the construction company’s stock worth $159,000 after purchasing an additional 907 shares during the period.

Granite Construction Stock Performance

Shares of NYSE GVA opened at $88.43 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.56 and a quick ratio of 1.46. Granite Construction Incorporated has a 1 year low of $46.67 and a 1 year high of $105.20. The firm has a fifty day moving average price of $91.38 and a 200-day moving average price of $83.81. The stock has a market cap of $3.87 billion, a PE ratio of 40.56 and a beta of 1.42.

Granite Construction Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.13 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.52 dividend on an annualized basis and a yield of 0.59%. Granite Construction’s dividend payout ratio is presently 23.85%.

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.