5,361 Shares in Granite Construction Incorporated (NYSE:GVA) Bought by Wealthcare Advisory Partners LLC

Wealthcare Advisory Partners LLC acquired a new stake in shares of Granite Construction Incorporated (NYSE:GVA) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 5,361 shares of the construction company’s stock, valued at approximately $306,000.

Other institutional investors have also modified their holdings of the company. Riverview Trust Co purchased a new stake in Granite Construction during the 1st quarter worth approximately $107,000. Westend Capital Management LLC purchased a new stake in shares of Granite Construction during the first quarter worth approximately $217,000. Los Angeles Capital Management LLC raised its stake in Granite Construction by 100.2% in the 1st quarter. Los Angeles Capital Management LLC now owns 21,035 shares of the construction company’s stock valued at $1,202,000 after purchasing an additional 10,530 shares during the last quarter. Quadrature Capital Ltd purchased a new position in Granite Construction in the 4th quarter valued at $525,000. Finally, PNC Financial Services Group Inc. boosted its stake in Granite Construction by 2.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 8,379 shares of the construction company’s stock worth $426,000 after purchasing an additional 187 shares during the last quarter.

Granite Construction Price Performance

GVA stock opened at $61.97 on Monday. Granite Construction Incorporated has a 1 year low of $33.74 and a 1 year high of $65.08. The firm has a market capitalization of $2.74 billion, a PE ratio of 105.03 and a beta of 1.46. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.51 and a quick ratio of 1.39. The business has a 50 day simple moving average of $60.52 and a 200-day simple moving average of $54.31.

Granite Construction (NYSE:GVA) last posted its quarterly earnings results on Thursday, May 2nd. The construction company reported ($0.21) EPS for the quarter, topping the consensus estimate of ($0.49) by $0.28. The business had revenue of $672.28 million for the quarter. Granite Construction had a return on equity of 14.91% and a net margin of 0.98%. Equities research analysts anticipate that Granite Construction Incorporated will post 4.76 earnings per share for the current fiscal year.

Granite Construction Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be issued a $0.13 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.52 annualized dividend and a yield of 0.84%. Granite Construction’s payout ratio is 88.14%.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group increased their target price on shares of Granite Construction from $44.00 to $50.00 and gave the company a “sell” rating in a research report on Tuesday, April 16th.

Insider Buying and Selling at Granite Construction

In other news, SVP Bradley Jay Williams sold 750 shares of Granite Construction stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $61.21, for a total transaction of $45,907.50. Following the sale, the senior vice president now owns 7,423 shares of the company’s stock, valued at approximately $454,361.83. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.81% of the stock is currently owned by company insiders.

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.