Amundi Acquires 14,758 Shares of Granite Construction Incorporated (NYSE:GVA)

Amundi increased its stake in shares of Granite Construction Incorporated (NYSE:GVA) by 191.9% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 22,449 shares of the construction company’s stock after buying an additional 14,758 shares during the quarter. Amundi’s holdings in Granite Construction were worth $1,984,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. Steward Partners Investment Advisory LLC purchased a new position in shares of Granite Construction in the fourth quarter worth about $89,000. Smartleaf Asset Management LLC grew its stake in Granite Construction by 193.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,345 shares of the construction company’s stock valued at $119,000 after buying an additional 887 shares in the last quarter. KBC Group NV raised its holdings in Granite Construction by 26.6% during the 4th 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 lifted its position in shares of Granite Construction by 8.5% during the fourth quarter. GAMMA Investing LLC now owns 2,178 shares of the construction company’s stock worth $191,000 after acquiring an additional 171 shares in the last quarter. Finally, Point72 DIFC Ltd bought a new position in shares of Granite Construction in the third quarter worth $203,000.

Granite Construction Stock Performance

NYSE:GVA opened at $73.65 on Tuesday. The business’s fifty day moving average is $84.96 and its 200 day moving average is $86.17. The firm has a market cap of $3.20 billion, a price-to-earnings ratio of 29.82 and a beta of 1.34. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.56 and a current ratio of 1.66. Granite Construction Incorporated has a 52-week low of $52.99 and a 52-week high of $105.20.

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 the consensus estimate of $1.42 by ($0.19). Granite Construction had a net margin of 3.15% and a return on equity of 20.67%. The company had revenue of $977.30 million for the quarter. During the same quarter in the previous year, the company posted $0.82 EPS. Research analysts predict that Granite Construction Incorporated will post 5.49 EPS for the current year.

Insiders Place Their Bets

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

About Granite Construction

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.