Russell Investments Group Ltd. Raises Stock Position in Granite Construction Incorporated (NYSE:GVA)

Russell Investments Group Ltd. boosted its position in Granite Construction Incorporated (NYSE:GVA) by 11.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,312 shares of the construction company’s stock after purchasing an additional 2,276 shares during the quarter. Russell Investments Group Ltd.’s holdings in Granite Construction were worth $1,957,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Envestnet Asset Management Inc. boosted its stake in Granite Construction by 36.4% during the fourth quarter. Envestnet Asset Management Inc. now owns 11,952 shares of the construction company’s stock valued at $1,048,000 after buying an additional 3,190 shares during the period. Integrated Quantitative Investments LLC bought a new position in shares of Granite Construction in the fourth quarter worth approximately $1,423,000. Leeward Financial Partners LLC purchased a new stake in Granite Construction in the fourth quarter valued at approximately $219,000. ExodusPoint Capital Management LP bought a new stake in Granite Construction during the fourth quarter valued at approximately $5,847,000. Finally, Trexquant Investment LP increased its holdings in shares of Granite Construction by 343.7% in the 4th quarter. Trexquant Investment LP now owns 75,058 shares of the construction company’s stock worth $6,583,000 after buying an additional 58,143 shares during the last quarter.

Granite Construction Stock Performance

NYSE GVA opened at $77.20 on Friday. The company has a market capitalization of $3.35 billion, a P/E ratio of 31.25 and a beta of 1.26. 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 $53.00 and a 52-week high of $105.20. The company has a fifty day moving average of $78.23 and a 200-day moving average of $85.93.

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

Granite Construction Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a $0.13 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.67%. Granite Construction’s dividend payout ratio (DPR) is 21.05%.

Insider Buying and Selling

In other Granite Construction news, COO James A. Radich sold 2,500 shares of the 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 completion of the sale, the chief operating officer now owns 28,256 shares of the company’s stock, valued at $2,462,227.84. This represents a 8.13 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Brian R. Dowd sold 2,025 shares of the firm’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 directly owns 13,880 shares in the company, valued at approximately $1,131,914. This trade represents a 12.73 % decrease in their position. The disclosure for this sale can be found here. 0.81% of the stock is owned by corporate insiders.

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.