Investors Research Corp Cuts Stake in Granite Construction Incorporated (NYSE:GVA)

Investors Research Corp reduced its stake in shares of Granite Construction Incorporated (NYSE:GVA) by 69.3% during the 4th quarter, HoldingsChannel reports. The fund owned 2,744 shares of the construction company’s stock after selling 6,200 shares during the period. Investors Research Corp’s holdings in Granite Construction were worth $241,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. US Bancorp DE increased its position in Granite Construction by 77.5% during the 3rd quarter. US Bancorp DE now owns 2,730 shares of the construction company’s stock worth $216,000 after purchasing an additional 1,192 shares in the last quarter. Crossmark Global Holdings Inc. acquired a new stake in Granite Construction during the 3rd quarter worth approximately $247,000. Peregrine Asset Advisers Inc. acquired a new stake in Granite Construction during the 3rd quarter worth approximately $4,616,000. Entropy Technologies LP acquired a new stake in Granite Construction during the 3rd quarter worth approximately $408,000. Finally, CIBC Asset Management Inc acquired a new stake in Granite Construction during the 3rd quarter worth approximately $214,000.

Insider Buying and Selling at Granite Construction

In other Granite Construction news, SVP Brian R. Dowd sold 2,025 shares of the 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO James A. Radich sold 2,500 shares of the stock in a transaction that occurred 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 completion of the sale, the chief operating officer now directly owns 28,256 shares of the company’s stock, valued at $2,462,227.84. This trade represents a 8.13 % decrease in their position. The disclosure for this sale can be found here. 0.81% of the stock is owned by corporate insiders.

Granite Construction Stock Down 4.2 %

GVA opened at $70.97 on Tuesday. The firm has a 50 day moving average price of $86.87 and a 200 day moving average price of $86.20. The company has a market cap of $3.08 billion, a PE ratio of 28.73 and a beta of 1.34. Granite Construction Incorporated has a 1 year low of $52.89 and a 1 year high of $105.20. 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 (NYSE:GVA) last posted its 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). 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 period in the previous year, the business posted $0.82 earnings per share. Sell-side analysts expect that Granite Construction Incorporated will post 5.49 earnings per share for the current year.

Granite Construction Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 0.73%. The ex-dividend date was Tuesday, December 31st. Granite Construction’s dividend payout ratio (DPR) is 21.05%.

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.