Vanguard Group Inc. Sells 19,732 Shares of Granite Construction Incorporated (NYSE:GVA)

Vanguard Group Inc. cut its holdings in Granite Construction Incorporated (NYSE:GVA) by 0.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,933,608 shares of the construction company’s stock after selling 19,732 shares during the quarter. Vanguard Group Inc. owned approximately 11.22% of Granite Construction worth $250,923,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Goldman Sachs Group Inc. increased its position in Granite Construction by 8.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 639,849 shares of the construction company’s stock valued at $32,543,000 after acquiring an additional 49,610 shares in the last quarter. G2 Investment Partners Management LLC bought a new position in Granite Construction in the 4th quarter worth approximately $2,197,000. Frontier Capital Management Co. LLC raised its position in Granite Construction by 21.6% in the 4th quarter. Frontier Capital Management Co. LLC now owns 1,388,044 shares of the construction company’s stock worth $70,596,000 after purchasing an additional 246,154 shares during the last quarter. Wasatch Advisors LP acquired a new position in Granite Construction during the 4th quarter worth $6,462,000. Finally, Teton Advisors Inc. bought a new position in Granite Construction in the 4th quarter valued at $254,000.

Insider Buying and Selling at Granite Construction

In other news, SVP Bradley Jay Williams sold 750 shares of the company’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $61.21, for a total value of $45,907.50. Following the completion of the sale, the senior vice president now directly owns 7,423 shares of the company’s stock, valued at approximately $454,361.83. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.81% of the company’s stock.

Granite Construction Trading Up 0.6 %

GVA opened at $61.97 on Monday. The firm has a 50 day simple moving average of $60.52 and a 200 day simple moving average of $54.31. Granite Construction Incorporated has a fifty-two week low of $33.74 and a fifty-two week high of $65.08. The company has a market cap of $2.74 billion, a price-to-earnings 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.

Granite Construction (NYSE:GVA) last released its earnings results on Thursday, May 2nd. The construction company reported ($0.21) EPS for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.28. The firm had revenue of $672.28 million during the quarter. Granite Construction had a net margin of 0.98% and a return on equity of 14.91%. On average, sell-side analysts anticipate that Granite Construction Incorporated will post 4.76 earnings per share for the current year.

Granite Construction Announces Dividend

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

Analyst Upgrades and Downgrades

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

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.