State of New Jersey Common Pension Fund D Decreases Stake in Granite Construction Incorporated (NYSE:GVA)

State of New Jersey Common Pension Fund D lessened its position in shares of Granite Construction Incorporated (NYSE:GVA) by 20.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,525 shares of the construction company’s stock after selling 5,451 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Granite Construction were worth $1,888,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Blue Trust Inc. grew its stake in shares of Granite Construction by 66.4% during the third quarter. Blue Trust Inc. now owns 902 shares of the construction company’s stock worth $72,000 after purchasing an additional 360 shares in the last quarter. KBC Group NV boosted its holdings 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 purchasing an additional 368 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Granite Construction by 8.5% in the fourth quarter. GAMMA Investing LLC now owns 2,178 shares of the construction company’s stock valued at $191,000 after purchasing an additional 171 shares in the last quarter. Point72 DIFC Ltd purchased a new position in Granite Construction in the third quarter valued at approximately $203,000. Finally, R Squared Ltd acquired a new stake in Granite Construction during the fourth quarter worth approximately $211,000.

Insider Activity at Granite Construction

In other Granite Construction news, COO James A. Radich sold 2,500 shares of the company’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 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. This represents a 8.13 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.81% of the stock is owned by insiders.

Granite Construction Price Performance

Shares of NYSE:GVA opened at $81.61 on Tuesday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.66 and a quick ratio of 1.56. Granite Construction Incorporated has a 12 month low of $48.51 and a 12 month high of $105.20. The firm has a market capitalization of $3.54 billion, a P/E ratio of 33.04 and a beta of 1.42. The company’s fifty day moving average price is $88.78 and its 200 day moving average price is $85.58.

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 analysts’ consensus estimates of $1.42 by ($0.19). Granite Construction had a return on equity of 20.67% and a net margin of 3.15%. The firm had revenue of $977.30 million for the quarter. During the same quarter in the previous year, the company earned $0.82 EPS. As a group, sell-side analysts predict that Granite Construction Incorporated will post 5.49 earnings per share for the current fiscal year.

Granite Construction Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a $0.13 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.64%. Granite Construction’s payout ratio is 21.05%.

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.