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

Corebridge Financial Inc. reduced its stake in Granite Construction Incorporated (NYSE:GVA) by 7.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 23,436 shares of the construction company’s stock after selling 1,828 shares during the period. Corebridge Financial Inc. owned 0.05% of Granite Construction worth $2,056,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. KLP Kapitalforvaltning AS bought a new position in Granite Construction during the fourth quarter worth about $764,000. Virtu Financial LLC raised its position in shares of Granite Construction by 25.4% in the 4th quarter. Virtu Financial LLC now owns 4,468 shares of the construction company’s stock valued at $392,000 after acquiring an additional 904 shares during the period. Quantbot Technologies LP boosted its stake in Granite Construction by 635.0% during the 4th quarter. Quantbot Technologies LP now owns 33,624 shares of the construction company’s stock worth $2,949,000 after acquiring an additional 29,049 shares during the last quarter. Magnetar Financial LLC acquired a new position in Granite Construction during the fourth quarter valued at approximately $510,000. Finally, Teacher Retirement System of Texas increased its stake in Granite Construction by 35.2% in the fourth quarter. Teacher Retirement System of Texas now owns 26,319 shares of the construction company’s stock valued at $2,308,000 after purchasing an additional 6,852 shares in the last quarter.

Granite Construction Trading Up 1.2 %

Shares of NYSE GVA opened at $76.28 on Wednesday. The company has a quick ratio of 1.56, a current ratio of 1.66 and a debt-to-equity ratio of 0.68. Granite Construction Incorporated has a twelve month low of $52.99 and a twelve month high of $105.20. The company’s fifty day moving average is $81.86 and its 200-day moving average is $86.39. The stock has a market cap of $3.31 billion, a price-to-earnings ratio of 30.88 and a beta of 1.34.

Granite Construction (NYSE:GVA) last posted its earnings results 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 business had revenue of $977.30 million during the quarter. During the same period last year, the firm posted $0.82 earnings per share. Equities research analysts predict that Granite Construction Incorporated will post 5.49 EPS for the current year.

Granite Construction Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued 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 (DPR) is currently 21.05%.

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 transaction of $217,850.00. Following 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 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 directly owns 13,880 shares of the company’s stock, valued at approximately $1,131,914. The trade was a 12.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.81% of the company’s stock.

Granite Construction Company 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.