Granite Construction Incorporated (NYSE:GVA) Shares Sold by Rhumbline Advisers

Rhumbline Advisers decreased its position in shares of Granite Construction Incorporated (NYSE:GVA) by 1.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 132,986 shares of the construction company’s stock after selling 2,172 shares during the period. Rhumbline Advisers owned about 0.30% of Granite Construction worth $11,664,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. HighTower Advisors LLC lifted its position in shares of Granite Construction by 176.4% during the third quarter. HighTower Advisors LLC now owns 15,092 shares of the construction company’s stock worth $1,199,000 after purchasing an additional 9,631 shares in the last quarter. Fiduciary Financial Group LLC acquired a new stake in Granite Construction during the 4th quarter worth approximately $545,000. Pacer Advisors Inc. acquired a new stake in Granite Construction during the 4th quarter worth approximately $92,154,000. RPg Family Wealth Advisory LLC purchased a new position in Granite Construction in the 3rd quarter valued at approximately $4,163,000. Finally, Intech Investment Management LLC acquired a new position in shares of Granite Construction in the third quarter worth $1,312,000.

Granite Construction Stock Down 2.9 %

Granite Construction stock opened at $82.15 on Monday. The firm has a market capitalization of $3.57 billion, a P/E ratio of 33.26 and a beta of 1.42. The stock’s fifty day simple moving average is $89.01 and its 200-day simple moving average is $85.49. Granite Construction Incorporated has a twelve month low of $48.11 and a twelve month high of $105.20. 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 (NYSE:GVA) last posted its quarterly earnings results 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 during the quarter. During the same quarter in the prior year, the company earned $0.82 earnings per share. As a group, equities analysts expect that Granite Construction Incorporated will post 5.49 earnings per share for the current fiscal year.

Granite Construction Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 0.63%. The ex-dividend date was Tuesday, December 31st. Granite Construction’s dividend payout ratio (DPR) is presently 21.05%.

Insiders Place Their Bets

In other Granite Construction news, COO James A. Radich sold 2,500 shares of Granite Construction 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 completion of the sale, the chief operating officer now directly 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 at this link. 0.81% of the stock is currently owned by company 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.