Granite Construction Incorporated (NYSE:GVA) Shares Sold by Swiss National Bank

Swiss National Bank lowered its stake in Granite Construction Incorporated (NYSE:GVA) by 0.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 86,000 shares of the construction company’s stock after selling 200 shares during the period. Swiss National Bank owned approximately 0.20% of Granite Construction worth $7,543,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of GVA. Pacer Advisors Inc. acquired a new position in Granite Construction during the fourth quarter worth $92,154,000. Hennessy Advisors Inc. acquired a new position in Granite Construction during the fourth quarter worth $61,046,000. Fisher Asset Management LLC grew its holdings in Granite Construction by 86.4% during the third quarter. Fisher Asset Management LLC now owns 363,816 shares of the construction company’s stock worth $28,843,000 after acquiring an additional 168,673 shares during the period. Brightline Capital Management LLC acquired a new position in Granite Construction during the third quarter worth $11,971,000. Finally, Asset Management One Co. Ltd. acquired a new position in Granite Construction during the fourth quarter worth $4,963,000.

Insiders Place Their Bets

In other news, SVP Brian R. Dowd sold 2,025 shares of the stock in a transaction dated Friday, February 28th. The stock was 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 owns 13,880 shares in the company, valued at approximately $1,131,914. This trade represents a 12.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO James A. Radich sold 2,500 shares of the stock in a transaction dated 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 sale, the chief operating officer now 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 position. The disclosure for this sale can be found here. 0.81% of the stock is currently owned by insiders.

Granite Construction Stock Down 0.2 %

GVA opened at $76.13 on Friday. The business’s fifty day moving average is $83.95 and its two-hundred day moving average is $86.11. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.56 and a current ratio of 1.66. The company has a market cap of $3.31 billion, a price-to-earnings ratio of 30.82 and a beta of 1.34. Granite Construction Incorporated has a one year low of $52.99 and a one year high of $105.20.

Granite Construction (NYSE:GVA) last issued its quarterly earnings data 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). 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 during the quarter. During the same quarter in the prior year, the company earned $0.82 EPS. Analysts anticipate that Granite Construction Incorporated will post 5.49 EPS for the current fiscal year.

Granite Construction Announces Dividend

The firm also recently announced 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. The ex-dividend date is Monday, March 31st. This represents a $0.52 annualized dividend and a yield of 0.68%. Granite Construction’s dividend payout ratio (DPR) is presently 21.05%.

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.