Charles Schwab Investment Management Inc. Sells 19,356 Shares of Granite Construction Incorporated (NYSE:GVA)

Charles Schwab Investment Management Inc. reduced its holdings in Granite Construction Incorporated (NYSE:GVA) by 2.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 668,625 shares of the construction company’s stock after selling 19,356 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.53% of Granite Construction worth $58,645,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in GVA. Steward Partners Investment Advisory LLC bought a new position in Granite Construction in the 4th quarter worth approximately $89,000. Smartleaf Asset Management LLC increased its position in shares of Granite Construction by 193.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,345 shares of the construction company’s stock valued at $119,000 after purchasing an additional 887 shares during the period. KBC Group NV increased its position in shares of Granite Construction by 26.6% during the fourth quarter. KBC Group NV now owns 1,751 shares of the construction company’s stock valued at $154,000 after purchasing an additional 368 shares during the period. GAMMA Investing LLC increased its position in shares of Granite Construction by 8.5% during the fourth quarter. GAMMA Investing LLC now owns 2,178 shares of the construction company’s stock valued at $191,000 after purchasing an additional 171 shares during the period. Finally, Point72 DIFC Ltd bought a new stake in shares of Granite Construction during the third quarter valued at approximately $203,000.

Granite Construction Stock Performance

GVA opened at $73.15 on Thursday. The stock has a market cap of $3.18 billion, a PE ratio of 29.61 and a beta of 1.34. The company has a current ratio of 1.66, a quick ratio of 1.56 and a debt-to-equity ratio of 0.68. Granite Construction Incorporated has a 1 year low of $52.99 and a 1 year high of $105.20. The stock’s 50 day simple moving average is $86.19 and its 200-day simple moving average is $86.18.

Granite Construction (NYSE:GVA) last released its quarterly earnings data 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). The firm had revenue of $977.30 million for the quarter. Granite Construction had a net margin of 3.15% and a return on equity of 20.67%. During the same quarter in the previous year, the company posted $0.82 EPS. Sell-side analysts forecast that Granite Construction Incorporated will post 5.49 EPS for the current year.

Insider Activity

In related news, COO James A. Radich sold 2,500 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $87.14, for a total value of $217,850.00. Following the sale, the chief operating officer now owns 28,256 shares of the company’s stock, valued at $2,462,227.84. The trade was a 8.13 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Brian R. Dowd sold 2,025 shares of the business’s stock in a transaction 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 directly owns 13,880 shares in the company, valued at approximately $1,131,914. This represents a 12.73 % decrease in their position. The disclosure for this sale can be found here. 0.81% of the stock is currently owned by company insiders.

About Granite Construction

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.