Corebridge Financial Inc. Sells 1,828 Shares of Granite Construction Incorporated (NYSE:GVA)

Corebridge Financial Inc. cut its holdings in shares of Granite Construction Incorporated (NYSE:GVA) by 7.2% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 23,436 shares of the construction company’s stock after selling 1,828 shares during the period. Corebridge Financial Inc.’s holdings in Granite Construction were worth $2,056,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Steward Partners Investment Advisory LLC bought a new stake in Granite Construction during the fourth quarter worth about $89,000. Smartleaf Asset Management LLC raised 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 purchasing an additional 887 shares in the last quarter. KBC Group NV boosted its holdings in shares of Granite Construction by 26.6% in the 4th quarter. KBC Group NV now owns 1,751 shares of the construction company’s stock valued at $154,000 after buying an additional 368 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Granite Construction by 8.5% in the fourth quarter. GAMMA Investing LLC now owns 2,178 shares of the construction company’s stock valued at $191,000 after buying an additional 171 shares in the last quarter. Finally, Point72 DIFC Ltd acquired a new position in Granite Construction during the third quarter worth $203,000.

Insider Buying and Selling at Granite Construction

In other Granite Construction news, COO James A. Radich sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $87.14, for a total transaction of $217,850.00. Following the completion of the sale, the chief operating officer now directly owns 28,256 shares in the company, valued at $2,462,227.84. This trade represents a 8.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Brian R. Dowd sold 2,025 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $81.55, for a total value of $165,138.75. Following the completion of the transaction, the senior vice president now directly 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. Insiders own 0.81% of the company’s stock.

Granite Construction Stock Performance

Shares of GVA stock opened at $76.28 on Wednesday. The company has a fifty day moving average price of $81.86 and a two-hundred day moving average price of $86.39. Granite Construction Incorporated has a one year low of $52.99 and a one year high of $105.20. The stock has a market cap of $3.31 billion, a P/E ratio of 30.88 and a beta of 1.34. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.66 and a quick ratio of 1.56.

Granite Construction (NYSE:GVA) last posted its quarterly earnings results on Thursday, February 13th. The construction company reported $1.23 EPS for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.19). The business had revenue of $977.30 million for the quarter. Granite Construction had a return on equity of 20.67% and a net margin of 3.15%. During the same period in the prior year, the firm earned $0.82 EPS. As a group, equities analysts predict that Granite Construction Incorporated will post 5.49 EPS for the current year.

Granite Construction Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date of this dividend is Monday, March 31st. Granite Construction’s dividend payout ratio (DPR) is presently 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.