Golden State Wealth Management LLC Buys Shares of 4,376 Granite Construction Incorporated (NYSE:GVA)

Golden State Wealth Management LLC purchased a new position in Granite Construction Incorporated (NYSE:GVA) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,376 shares of the construction company’s stock, valued at approximately $384,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Pacer Advisors Inc. purchased a new position in shares of Granite Construction during the fourth quarter valued at approximately $92,154,000. Hennessy Advisors Inc. bought a new stake in Granite Construction in the 4th quarter worth approximately $61,046,000. Fisher Asset Management LLC raised its stake in Granite Construction by 86.4% during the 3rd quarter. Fisher Asset Management LLC now owns 363,816 shares of the construction company’s stock valued at $28,843,000 after buying an additional 168,673 shares during the last quarter. Brightline Capital Management LLC bought a new position in shares of Granite Construction during the 3rd quarter valued at $11,971,000. Finally, Peregrine Asset Advisers Inc. purchased a new position in shares of Granite Construction in the 3rd quarter worth $4,616,000.

Granite Construction Stock Performance

Shares of GVA opened at $88.43 on Friday. Granite Construction Incorporated has a one year low of $46.67 and a one year high of $105.20. The business has a fifty day moving average of $91.38 and a 200 day moving average of $83.81. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.56 and a quick ratio of 1.46. The firm has a market capitalization of $3.87 billion, a P/E ratio of 40.56 and a beta of 1.42.

Granite Construction Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 0.59%. The ex-dividend date was Tuesday, December 31st. Granite Construction’s payout ratio is currently 23.85%.

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.