Granite Construction Incorporated (NYSE:GVA) Holdings Lessened by RPG Investment Advisory LLC

RPG Investment Advisory LLC trimmed its stake in Granite Construction Incorporated (NYSE:GVA) by 0.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 228,691 shares of the construction company’s stock after selling 1,942 shares during the period. Granite Construction comprises 2.7% of RPG Investment Advisory LLC’s investment portfolio, making the stock its 7th biggest holding. RPG Investment Advisory LLC’s holdings in Granite Construction were worth $20,059,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in GVA. HighTower Advisors LLC increased its stake 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 buying an additional 9,631 shares during the period. Fiduciary Financial Group LLC purchased a new stake in Granite Construction during the 4th quarter worth approximately $545,000. Pacer Advisors Inc. purchased a new stake in Granite Construction during the 4th quarter worth approximately $92,154,000. RPg Family Wealth Advisory LLC purchased a new stake in Granite Construction during the 3rd quarter worth approximately $4,163,000. Finally, Intech Investment Management LLC purchased a new stake in Granite Construction during the 3rd quarter worth approximately $1,312,000.

Granite Construction Price Performance

Shares of GVA opened at $82.15 on Monday. Granite Construction Incorporated has a fifty-two week low of $48.11 and a fifty-two week high of $105.20. The firm’s 50 day moving average price is $89.01 and its 200 day moving average price is $85.49. The company has a market cap of $3.57 billion, a P/E ratio of 33.26 and a beta of 1.42. The company has a quick ratio of 1.56, a current ratio of 1.66 and a debt-to-equity ratio of 0.68.

Granite Construction (NYSE:GVA) last announced 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 prior year, the firm posted $0.82 earnings per share. On average, research analysts forecast that Granite Construction Incorporated will post 5.49 earnings per share for the current fiscal year.

Granite Construction Dividend Announcement

The company 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. This represents a $0.52 annualized dividend and a yield of 0.63%. The ex-dividend date was Tuesday, December 31st. Granite Construction’s dividend payout ratio (DPR) is presently 21.05%.

Insiders Place Their Bets

In other Granite Construction news, COO James A. Radich sold 2,500 shares of the business’s 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 transaction, the chief operating officer now owns 28,256 shares in the company, valued at $2,462,227.84. The trade was a 8.13 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.81% of the stock is currently owned by company insiders.

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.