Proficio Capital Partners LLC Invests $3.17 Million in Granite Construction Incorporated (NYSE:GVA)

Proficio Capital Partners LLC purchased a new stake in Granite Construction Incorporated (NYSE:GVA) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 36,137 shares of the construction company’s stock, valued at approximately $3,170,000. Proficio Capital Partners LLC owned 0.08% of Granite Construction at the end of the most recent quarter.

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

Granite Construction Trading Down 0.8 %

Shares of NYSE:GVA opened at $73.19 on Wednesday. Granite Construction Incorporated has a 12-month low of $52.99 and a 12-month high of $105.20. The business has a 50 day moving average of $84.66 and a 200-day moving average of $86.15. The company has a quick ratio of 1.56, a current ratio of 1.66 and a debt-to-equity ratio of 0.68. The stock has a market cap of $3.18 billion, a PE ratio of 29.63 and a beta of 1.34.

Granite Construction (NYSE:GVA) last released its quarterly earnings results on Thursday, February 13th. The construction company reported $1.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.42 by ($0.19). The firm had revenue of $977.30 million during the quarter. Granite Construction had a net margin of 3.15% and a return on equity of 20.67%. During the same period in the previous year, the business earned $0.82 EPS. As a group, equities research analysts forecast that Granite Construction Incorporated will post 5.49 earnings per share for the current year.

Granite Construction Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 0.71%. Granite Construction’s dividend payout ratio is 21.05%.

Insider Buying and Selling

In other Granite Construction news, SVP Brian R. Dowd sold 2,025 shares of the firm’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $81.55, for a total transaction of $165,138.75. Following the transaction, the senior vice president now owns 13,880 shares in the company, valued at $1,131,914. This trade represents a 12.73 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO James A. Radich sold 2,500 shares of Granite Construction stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $87.14, for a total value of $217,850.00. Following the completion of the transaction, the chief operating officer now directly owns 28,256 shares of the company’s stock, valued at $2,462,227.84. This represents a 8.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.81% of the stock is owned by 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.