Principal Financial Group Inc. Has $18.69 Million Stock Position in Granite Construction Incorporated (NYSE:GVA)

Principal Financial Group Inc. boosted its stake in shares of Granite Construction Incorporated (NYSE:GVA) by 3.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 213,100 shares of the construction company’s stock after purchasing an additional 6,275 shares during the period. Principal Financial Group Inc.’s holdings in Granite Construction were worth $18,691,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of GVA. Blue Trust Inc. raised its stake in shares of Granite Construction by 66.4% during the 3rd quarter. Blue Trust Inc. now owns 902 shares of the construction company’s stock worth $72,000 after purchasing an additional 360 shares in the last quarter. KBC Group NV increased its holdings in Granite Construction by 26.6% during the fourth quarter. KBC Group NV now owns 1,751 shares of the construction company’s stock worth $154,000 after buying an additional 368 shares during the last quarter. GAMMA Investing LLC raised its position in 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. R Squared Ltd acquired a new stake in Granite Construction in the fourth quarter valued at $211,000. Finally, Precision Wealth Strategies LLC bought a new position in shares of Granite Construction in the 4th quarter valued at about $215,000.

Granite Construction Stock Down 0.7 %

Granite Construction stock opened at $81.61 on Tuesday. Granite Construction Incorporated has a fifty-two week low of $48.51 and a fifty-two week high of $105.20. The firm has a market capitalization of $3.54 billion, a PE ratio of 33.04 and a beta of 1.42. The company’s 50-day moving average is $88.78 and its 200-day moving average is $85.58. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.66 and a quick ratio of 1.56.

Granite Construction (NYSE:GVA) last released its quarterly earnings data on Thursday, February 13th. The construction company reported $1.23 earnings per share (EPS) 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 business had revenue of $977.30 million during the quarter. During the same quarter last year, the company earned $0.82 EPS. Sell-side analysts anticipate that Granite Construction Incorporated will post 5.49 earnings per share for the current year.

Granite Construction Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a dividend of $0.13 per share. The ex-dividend date was Tuesday, December 31st. This represents a $0.52 dividend on an annualized basis and a yield of 0.64%. Granite Construction’s dividend payout ratio (DPR) is 21.05%.

Insider Buying and Selling at Granite Construction

In other news, COO James A. Radich sold 2,500 shares of the business’s stock in a transaction that occurred on 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 $2,462,227.84. The trade was 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. Corporate insiders own 0.81% of the company’s stock.

Granite Construction 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.