US Bancorp DE Raises Position in Granite Construction Incorporated (NYSE:GVA)

US Bancorp DE increased its holdings in Granite Construction Incorporated (NYSE:GVA) by 56.4% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,270 shares of the construction company’s stock after buying an additional 1,540 shares during the period. US Bancorp DE’s holdings in Granite Construction were worth $375,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in GVA. Versor Investments LP bought a new position in Granite Construction in the fourth quarter valued at $866,000. Proficio Capital Partners LLC bought a new position in Granite Construction in the fourth quarter valued at $3,170,000. Illinois Municipal Retirement Fund increased its stake in Granite Construction by 0.5% in the fourth quarter. Illinois Municipal Retirement Fund now owns 23,747 shares of the construction company’s stock valued at $2,083,000 after acquiring an additional 115 shares during the last quarter. Los Angeles Capital Management LLC increased its stake in Granite Construction by 147.0% in the fourth quarter. Los Angeles Capital Management LLC now owns 43,251 shares of the construction company’s stock valued at $3,794,000 after acquiring an additional 25,738 shares during the last quarter. Finally, Wolverine Asset Management LLC bought a new position in Granite Construction in the fourth quarter valued at $2,947,000.

Granite Construction Stock Down 1.0 %

GVA opened at $72.44 on Friday. The stock has a market cap of $3.15 billion, a PE ratio of 29.33 and a beta of 1.34. 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 Incorporated has a 52 week low of $52.99 and a 52 week high of $105.20. The business’s fifty day simple moving average is $85.90 and its 200 day simple moving average is $86.09.

Granite Construction (NYSE:GVA) last announced 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). Granite Construction had a net margin of 3.15% and a return on equity of 20.67%. The company had revenue of $977.30 million for the quarter. During the same quarter in the prior year, the business earned $0.82 earnings per share. As a group, research analysts expect that Granite Construction Incorporated will post 5.49 earnings per share for the current fiscal year.

Insider Activity

In other news, COO James A. Radich sold 2,500 shares of the firm’s stock in a transaction dated 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. This trade represents a 8.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Brian R. Dowd sold 2,025 shares of the firm’s stock in a transaction dated Friday, February 28th. The shares were 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. This trade represents 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.

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.