Intech Investment Management LLC Acquires 25,666 Shares of Granite Construction Incorporated (NYSE:GVA)

Intech Investment Management LLC increased its holdings in shares of Granite Construction Incorporated (NYSE:GVA) by 155.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,215 shares of the construction company’s stock after purchasing an additional 25,666 shares during the period. Intech Investment Management LLC’s holdings in Granite Construction were worth $3,703,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. HighTower Advisors LLC lifted its holdings in shares of Granite Construction by 176.4% during the 3rd quarter. HighTower Advisors LLC now owns 15,092 shares of the construction company’s stock valued at $1,199,000 after purchasing an additional 9,631 shares in the last quarter. Fiduciary Financial Group LLC bought a new stake in Granite Construction in the 4th quarter valued at approximately $545,000. Pacer Advisors Inc. bought a new stake in Granite Construction in the 4th quarter valued at approximately $92,154,000. RPg Family Wealth Advisory LLC bought a new stake in Granite Construction in the 3rd quarter valued at approximately $4,163,000. Finally, Algert Global LLC lifted its stake in Granite Construction by 560.9% in the 3rd quarter. Algert Global LLC now owns 29,292 shares of the construction company’s stock valued at $2,322,000 after acquiring an additional 24,860 shares in the last quarter.

Granite Construction Trading Up 3.9 %

NYSE GVA opened at $75.94 on Thursday. The stock has a market capitalization of $3.30 billion, a price-to-earnings ratio of 30.75 and a beta of 1.34. The stock’s 50 day moving average price is $84.41 and its two-hundred day moving average price is $86.08. 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 earnings per share for the quarter, missing the consensus estimate of $1.42 by ($0.19). The company had revenue of $977.30 million for the quarter. Granite Construction had a return on equity of 20.67% and a net margin of 3.15%. During the same quarter last year, the business earned $0.82 earnings per share. As a group, analysts anticipate that Granite Construction Incorporated will post 5.49 earnings per share for the current fiscal year.

Granite Construction Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 0.68%. The ex-dividend date is Monday, March 31st. Granite Construction’s dividend payout ratio (DPR) is 21.05%.

Insiders Place Their Bets

In related news, 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 transaction of $217,850.00. Following the transaction, the chief operating officer now directly owns 28,256 shares of the company’s stock, valued at approximately $2,462,227.84. The trade was a 8.13 % decrease in their position. The transaction was disclosed in a legal filing 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 stock was sold at an average price of $81.55, for a total value of $165,138.75. Following the transaction, the senior vice president now directly owns 13,880 shares in the company, valued at $1,131,914. The trade was 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 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.