Envestnet Asset Management Inc. Has $1.05 Million Stock Holdings in Granite Construction Incorporated (NYSE:GVA)

Envestnet Asset Management Inc. lifted its holdings in Granite Construction Incorporated (NYSE:GVA) by 36.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 11,952 shares of the construction company’s stock after purchasing an additional 3,190 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Granite Construction were worth $1,048,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in GVA. Integrated Quantitative Investments LLC bought a new position in shares of Granite Construction in the fourth quarter worth about $1,423,000. Leeward Financial Partners LLC acquired a new stake in shares of Granite Construction in the fourth quarter valued at approximately $219,000. ExodusPoint Capital Management LP acquired a new stake in shares of Granite Construction in the fourth quarter valued at approximately $5,847,000. Trexquant Investment LP raised its position in 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 purchasing an additional 58,143 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC lifted its holdings in Granite Construction by 3.1% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 8,461 shares of the construction company’s stock worth $742,000 after buying an additional 254 shares in the last quarter.

Granite Construction Stock Down 2.3 %

Shares of GVA opened at $79.44 on Friday. The firm has a market capitalization of $3.47 billion, a price-to-earnings ratio of 32.16 and a beta of 1.26. Granite Construction Incorporated has a 52 week low of $55.57 and a 52 week high of $105.20. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.56 and a current ratio of 1.66. The business’s fifty day moving average price is $76.86 and its two-hundred day moving average price is $85.81.

Granite Construction (NYSE:GVA) last posted its quarterly earnings results on Thursday, May 1st. The construction company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.43) by $0.44. The business had revenue of $699.55 million for the quarter, compared to analysts’ expectations of $706.15 million. Granite Construction had a return on equity of 20.67% and a net margin of 3.15%. The business’s quarterly revenue was up 4.0% on a year-over-year basis. On average, analysts predict that Granite Construction Incorporated will post 5.49 earnings per share for the current year.

Granite Construction Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date of this dividend was Monday, March 31st. Granite Construction’s dividend payout ratio (DPR) is 21.05%.

Insider Activity at Granite Construction

In other Granite Construction news, COO James A. Radich sold 2,500 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $87.14, for a total value of $217,850.00. Following the transaction, the chief operating officer now owns 28,256 shares of the company’s stock, valued at approximately $2,462,227.84. This represents a 8.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Kyle T. Larkin sold 2,790 shares of the firm’s stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $80.02, for a total value of $223,255.80. Following the transaction, the chief executive officer now owns 136,384 shares in the company, valued at approximately $10,913,447.68. This trade represents a 2.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,932 shares of company stock worth $896,979 over the last ninety days. Company 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.