Norges Bank Takes $31.86 Million Position in Granite Construction Incorporated (NYSE:GVA)

Norges Bank bought a new stake in Granite Construction Incorporated (NYSE:GVA) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 363,180 shares of the construction company’s stock, valued at approximately $31,855,000. Norges Bank owned approximately 0.83% of Granite Construction as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC purchased a new stake in shares of Granite Construction in the 4th quarter valued at approximately $89,000. Smartleaf Asset Management LLC increased its holdings in Granite Construction by 193.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,345 shares of the construction company’s stock valued at $119,000 after buying an additional 887 shares during the last quarter. KBC Group NV raised its stake in Granite Construction by 26.6% in the fourth 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 in the last quarter. GAMMA Investing LLC lifted its holdings in Granite Construction by 8.5% during the 4th quarter. GAMMA Investing LLC now owns 2,178 shares of the construction company’s stock worth $191,000 after buying an additional 171 shares during the last quarter. Finally, Point72 DIFC Ltd acquired a new position in shares of Granite Construction during the 3rd quarter worth about $203,000.

Granite Construction Trading Down 4.1 %

GVA opened at $71.85 on Friday. The business’s 50-day simple moving average is $80.79 and its 200-day simple moving average is $86.28. The company has a market cap of $3.12 billion, a P/E ratio of 29.09 and a beta of 1.26. Granite Construction Incorporated has a one year low of $52.99 and a one year high of $105.20. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.56 and a current ratio of 1.66.

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

Granite Construction Announces Dividend

The business 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 $0.13 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.52 dividend on an annualized basis and a yield of 0.72%. Granite Construction’s dividend payout ratio (DPR) is presently 21.05%.

Insider Buying and Selling at Granite Construction

In other Granite Construction news, COO James A. Radich sold 2,500 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief operating officer now owns 28,256 shares in the company, valued at approximately $2,462,227.84. The trade was 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 that occurred 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 approximately $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. 0.81% of the stock is currently 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.