Geneos Wealth Management Inc. Sells 601 Shares of Granite Construction Incorporated (NYSE:GVA)

Geneos Wealth Management Inc. reduced its position in shares of Granite Construction Incorporated (NYSE:GVAFree Report) by 10.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,888 shares of the construction company’s stock after selling 601 shares during the quarter. Geneos Wealth Management Inc.’s holdings in Granite Construction were worth $429,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Atomi Financial Group Inc. raised its holdings in shares of Granite Construction by 6.7% in the 4th quarter. Atomi Financial Group Inc. now owns 4,769 shares of the construction company’s stock valued at $418,000 after purchasing an additional 301 shares during the period. Ballentine Partners LLC bought a new stake in Granite Construction in the fourth quarter valued at approximately $242,000. Hennessy Advisors Inc. bought a new stake in Granite Construction in the fourth quarter valued at approximately $61,046,000. Fiduciary Financial Group LLC acquired a new stake in shares of Granite Construction in the fourth quarter valued at approximately $545,000. Finally, Harbor Capital Advisors Inc. boosted its stake in shares of Granite Construction by 8.8% during the 4th quarter. Harbor Capital Advisors Inc. now owns 19,946 shares of the construction company’s stock worth $1,749,000 after acquiring an additional 1,620 shares during the period.

Granite Construction Stock Performance

Shares of GVA stock opened at $85.45 on Wednesday. Granite Construction Incorporated has a 52 week low of $43.92 and a 52 week high of $105.20. The company has a market capitalization of $3.74 billion, a price-to-earnings ratio of 39.20 and a beta of 1.43. The company has a 50-day simple moving average of $92.89 and a 200 day simple moving average of $82.95. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.46 and a current ratio of 1.56.

Granite Construction (NYSE:GVAGet Free Report) last issued its quarterly earnings data on Thursday, October 31st. The construction company reported $2.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.46). The firm had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.29 billion. Granite Construction had a return on equity of 19.04% and a net margin of 2.80%. The company’s revenue was up 14.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.69 EPS. On average, sell-side analysts predict that Granite Construction Incorporated will post 4.98 earnings per share for the current year.

Granite Construction Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date of this dividend was Tuesday, December 31st. Granite Construction’s dividend payout ratio is 23.85%.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group increased their price target on Granite Construction from $61.00 to $70.00 and gave the company a “sell” rating in a research note on Wednesday, October 9th.

Read Our Latest Research Report on GVA

Granite Construction Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Granite Construction (NYSE:GVA)

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