10,315 Shares in Granite Construction Incorporated (NYSE:GVA) Acquired by Quadrature Capital Ltd

Quadrature Capital Ltd acquired a new position in Granite Construction Incorporated (NYSE:GVA) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 10,315 shares of the construction company’s stock, valued at approximately $525,000.

Several other hedge funds also recently added to or reduced their stakes in GVA. GAMMA Investing LLC acquired a new position in Granite Construction during the fourth quarter worth $43,000. Toth Financial Advisory Corp lifted its stake in Granite Construction by 35.1% during the fourth quarter. Toth Financial Advisory Corp now owns 2,500 shares of the construction company’s stock worth $127,000 after purchasing an additional 650 shares in the last quarter. Connable Office Inc. acquired a new position in Granite Construction during the fourth quarter worth $221,000. Caxton Associates LP acquired a new position in Granite Construction during the third quarter worth $241,000. Finally, Teton Advisors Inc. acquired a new position in Granite Construction during the fourth quarter worth $254,000.

Wall Street Analyst Weigh In

GVA has been the topic of several analyst reports. DA Davidson increased their price objective on Granite Construction from $60.00 to $64.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. The Goldman Sachs Group increased their price objective on Granite Construction from $44.00 to $50.00 and gave the company a “sell” rating in a research note on Tuesday, April 16th.

Insider Activity at Granite Construction

In other Granite Construction news, SVP Bradley Jay Williams sold 750 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $61.21, for a total transaction of $45,907.50. Following the transaction, the senior vice president now owns 7,423 shares of the company’s stock, valued at $454,361.83. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.81% of the stock is currently owned by corporate insiders.

Granite Construction Stock Up 0.0 %

Shares of NYSE GVA opened at $62.47 on Friday. The stock has a market cap of $2.76 billion, a P/E ratio of 105.88 and a beta of 1.46. The company has a current ratio of 1.51, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51. Granite Construction Incorporated has a 12-month low of $33.74 and a 12-month high of $65.08. The business’s fifty day simple moving average is $59.72 and its 200-day simple moving average is $53.78.

Granite Construction (NYSE:GVA) last posted its earnings results on Thursday, May 2nd. The construction company reported ($0.21) EPS for the quarter, beating the consensus estimate of ($0.49) by $0.28. The firm had revenue of $672.28 million for the quarter. Granite Construction had a return on equity of 14.91% and a net margin of 0.98%. As a group, equities analysts predict that Granite Construction Incorporated will post 4.76 EPS for the current fiscal year.

Granite Construction Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 0.83%. The ex-dividend date of this dividend is Friday, June 28th. Granite Construction’s dividend payout ratio (DPR) is presently 88.14%.

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.