Zurcher Kantonalbank Zurich Cantonalbank Acquires 1,804 Shares of Granite Construction Incorporated (NYSE:GVA)

Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Granite Construction Incorporated (NYSE:GVA) by 18.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,723 shares of the construction company’s stock after acquiring an additional 1,804 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Granite Construction were worth $1,028,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Steward Partners Investment Advisory LLC acquired a new stake in shares of Granite Construction in the 4th quarter valued at $89,000. Smartleaf Asset Management LLC boosted its stake in shares of Granite Construction by 193.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,345 shares of the construction company’s stock worth $119,000 after acquiring an additional 887 shares in the last quarter. KBC Group NV boosted its holdings in Granite Construction by 26.6% during the fourth quarter. KBC Group NV now owns 1,751 shares of the construction company’s stock valued at $154,000 after acquiring an additional 368 shares during the period. GAMMA Investing LLC increased its stake in Granite Construction by 8.5% during the fourth quarter. GAMMA Investing LLC now owns 2,178 shares of the construction company’s stock valued at $191,000 after acquiring an additional 171 shares during the period. Finally, Point72 DIFC Ltd bought a new position in shares of Granite Construction during the 3rd quarter worth about $203,000.

Insider Transactions at Granite Construction

In other Granite Construction news, COO James A. Radich sold 2,500 shares of Granite Construction stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $87.14, for a total value of $217,850.00. Following the completion of the transaction, the chief operating officer now owns 28,256 shares in the company, valued at approximately $2,462,227.84. The trade was a 8.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Brian R. Dowd sold 2,025 shares of the stock in a transaction on Friday, February 28th. The stock was sold at an average price of $81.55, for a total value of $165,138.75. Following the sale, the senior vice president now owns 13,880 shares in the company, valued at $1,131,914. The trade was a 12.73 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.81% of the company’s stock.

Granite Construction Stock Up 3.9 %

NYSE GVA opened at $75.94 on Thursday. Granite Construction Incorporated has a 1-year low of $52.99 and a 1-year high of $105.20. The company has a current ratio of 1.66, a quick ratio of 1.56 and a debt-to-equity ratio of 0.68. The stock’s 50 day moving average is $84.41 and its two-hundred day moving average is $86.08. The company has a market capitalization of $3.30 billion, a price-to-earnings ratio of 30.75 and a beta of 1.34.

Granite Construction (NYSE:GVA) last announced its quarterly earnings results on Thursday, February 13th. The construction company reported $1.23 earnings per share for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.19). The company had revenue of $977.30 million during the quarter. Granite Construction had a net margin of 3.15% and a return on equity of 20.67%. During the same quarter last year, the business earned $0.82 EPS. Equities analysts forecast that Granite Construction Incorporated will post 5.49 earnings per share for the current fiscal year.

Granite Construction Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.13 per share. The ex-dividend date is Monday, March 31st. This represents a $0.52 annualized dividend and a yield of 0.68%. Granite Construction’s dividend payout ratio is 21.05%.

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.