PNC Financial Services Group Inc. Sells 308 Shares of Granite Construction Incorporated (NYSE:GVA)

PNC Financial Services Group Inc. lessened its stake in shares of Granite Construction Incorporated (NYSE:GVA) by 3.6% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 8,141 shares of the construction company’s stock after selling 308 shares during the period. PNC Financial Services Group Inc.’s holdings in Granite Construction were worth $714,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Crossmark Global Holdings Inc. purchased a new stake in Granite Construction in the 3rd quarter worth approximately $247,000. CIBC Asset Management Inc purchased a new stake in shares of Granite Construction in the third quarter worth $214,000. Natixis Advisors LLC increased its stake in shares of Granite Construction by 6.2% in the third quarter. Natixis Advisors LLC now owns 13,712 shares of the construction company’s stock worth $1,087,000 after purchasing an additional 806 shares in the last quarter. Chesapeake Capital Corp IL lifted its stake in shares of Granite Construction by 27.9% during the 3rd quarter. Chesapeake Capital Corp IL now owns 5,936 shares of the construction company’s stock valued at $470,000 after buying an additional 1,295 shares in the last quarter. Finally, Quest Partners LLC boosted its holdings in Granite Construction by 2,303,900.0% in the 3rd quarter. Quest Partners LLC now owns 23,040 shares of the construction company’s stock worth $1,827,000 after buying an additional 23,039 shares during the period.

Insider Buying and Selling at Granite Construction

In related news, COO James A. Radich sold 2,500 shares of the firm’s stock in a transaction on Thursday, February 20th. The shares were 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 directly owns 28,256 shares of the company’s stock, valued at approximately $2,462,227.84. This trade represents a 8.13 % decrease in their ownership of the stock. The transaction 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 business’s stock in a transaction 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 sale, the senior vice president now owns 13,880 shares in the company, valued at $1,131,914. This represents a 12.73 % decrease in their position. The disclosure for this sale can be found here. 0.81% of the stock is currently owned by insiders.

Granite Construction Price Performance

Shares of Granite Construction stock opened at $73.65 on Tuesday. The company has a market capitalization of $3.20 billion, a price-to-earnings ratio of 29.82 and a beta of 1.34. The company has a quick ratio of 1.56, a current ratio of 1.66 and a debt-to-equity ratio of 0.68. The stock’s 50-day simple moving average is $84.96 and its 200-day simple moving average is $86.17. 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 data on Thursday, February 13th. The construction company reported $1.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 period in the prior year, the business posted $0.82 earnings per share. As a group, analysts expect that Granite Construction Incorporated will post 5.49 earnings per share for the current fiscal year.

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.