Vanguard Personalized Indexing Management LLC Sells 174 Shares of Granite Construction Incorporated (NYSE:GVA)

Vanguard Personalized Indexing Management LLC trimmed its holdings in shares of Granite Construction Incorporated (NYSE:GVA) by 4.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,607 shares of the construction company’s stock after selling 174 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Granite Construction were worth $224,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of GVA. Frontier Capital Management Co. LLC increased its position in shares of Granite Construction by 21.6% during the 4th quarter. Frontier Capital Management Co. LLC now owns 1,388,044 shares of the construction company’s stock valued at $70,596,000 after purchasing an additional 246,154 shares during the last quarter. Wasatch Advisors LP increased its holdings in Granite Construction by 637.4% during the first quarter. Wasatch Advisors LP now owns 936,858 shares of the construction company’s stock worth $53,523,000 after buying an additional 809,803 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Granite Construction by 8.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 639,849 shares of the construction company’s stock worth $32,543,000 after acquiring an additional 49,610 shares during the period. First Trust Advisors LP boosted its stake in Granite Construction by 15.4% in the fourth quarter. First Trust Advisors LP now owns 533,324 shares of the construction company’s stock valued at $27,125,000 after acquiring an additional 71,099 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Granite Construction during the 4th quarter valued at approximately $13,755,000.

Insider Transactions at Granite Construction

In related news, SVP Michael G. Tatusko sold 5,000 shares of the stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $69.22, for a total transaction of $346,100.00. Following the sale, the senior vice president now owns 21,943 shares of the company’s stock, valued at approximately $1,518,894.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.81% of the company’s stock.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group lifted their price target on shares of Granite Construction from $55.00 to $61.00 and gave the stock a “sell” rating in a report on Friday, August 2nd.

Granite Construction Trading Up 0.1 %

Shares of GVA opened at $79.11 on Monday. Granite Construction Incorporated has a fifty-two week low of $33.74 and a fifty-two week high of $81.38. The business has a 50-day moving average of $72.37 and a 200 day moving average of $63.93. The firm has a market cap of $3.49 billion, a P/E ratio of 134.08 and a beta of 1.39. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.56 and a current ratio of 1.68.

Granite Construction (NYSE:GVA) last posted its earnings results on Thursday, August 1st. The construction company reported $1.73 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.41. The firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.01 billion. Granite Construction had a net margin of 2.35% and a return on equity of 17.82%. The company’s revenue was up 20.5% on a year-over-year basis. During the same quarter last year, the company earned $1.03 earnings per share. As a group, research analysts forecast that Granite Construction Incorporated will post 5.24 EPS for the current year.

Granite Construction Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.52 annualized dividend and a dividend yield of 0.66%. Granite Construction’s dividend payout ratio is currently 88.14%.

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.