Principal Financial Group Inc. Has $18.69 Million Stock Holdings in Granite Construction Incorporated (NYSE:GVA)

Principal Financial Group Inc. grew its position in Granite Construction Incorporated (NYSE:GVA) by 3.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 213,100 shares of the construction company’s stock after buying an additional 6,275 shares during the period. Principal Financial Group Inc. owned 0.49% of Granite Construction worth $18,691,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in GVA. Creative Planning boosted its holdings in Granite Construction by 168.3% during the third quarter. Creative Planning now owns 8,827 shares of the construction company’s stock worth $700,000 after buying an additional 5,537 shares during the last quarter. Blue Trust Inc. raised its position in shares of Granite Construction by 66.4% in the 3rd quarter. Blue Trust Inc. now owns 902 shares of the construction company’s stock valued at $72,000 after acquiring an additional 360 shares during the period. Hedges Asset Management LLC bought a new position in Granite Construction during the 3rd quarter worth approximately $238,000. Pinnacle Associates Ltd. grew its holdings in Granite Construction by 3.2% during the third quarter. Pinnacle Associates Ltd. now owns 179,355 shares of the construction company’s stock valued at $14,219,000 after purchasing an additional 5,528 shares during the period. Finally, US Bancorp DE increased its stake in Granite Construction by 77.5% in the third quarter. US Bancorp DE now owns 2,730 shares of the construction company’s stock valued at $216,000 after purchasing an additional 1,192 shares in the last quarter.

Insider Transactions at Granite Construction

In other news, COO James A. Radich sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $87.14, for a total transaction 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 trade represents a 8.13 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.81% of the stock is owned by insiders.

Granite Construction Trading Down 0.7 %

Shares of NYSE GVA opened at $81.61 on Tuesday. Granite Construction Incorporated has a twelve month low of $48.51 and a twelve month high of $105.20. The stock has a market cap of $3.54 billion, a price-to-earnings ratio of 33.04 and a beta of 1.42. 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 company’s fifty day moving average is $88.78 and its 200-day moving average is $85.58.

Granite Construction (NYSE:GVA) last announced its earnings results on Thursday, February 13th. The construction company reported $1.23 EPS for the quarter, missing the consensus estimate 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 business earned $0.82 EPS. Equities research analysts predict that Granite Construction Incorporated will post 5.49 EPS for the current year.

Granite Construction Dividend Announcement

The company also recently declared 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 of this dividend was Tuesday, December 31st. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.64%. Granite Construction’s dividend payout ratio (DPR) is 21.05%.

Granite Construction Company 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.