Intech Investment Management LLC Purchases 25,666 Shares of Granite Construction Incorporated (NYSE:GVA)

Intech Investment Management LLC increased its position in Granite Construction Incorporated (NYSE:GVA) by 155.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 42,215 shares of the construction company’s stock after purchasing an additional 25,666 shares during the quarter. Intech Investment Management LLC owned approximately 0.10% of Granite Construction worth $3,703,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Illinois Municipal Retirement Fund lifted its position in Granite Construction by 0.5% in the fourth quarter. Illinois Municipal Retirement Fund now owns 23,747 shares of the construction company’s stock worth $2,083,000 after purchasing an additional 115 shares during the period. Dorsey & Whitney Trust CO LLC lifted its holdings in shares of Granite Construction by 1.4% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 10,376 shares of the construction company’s stock valued at $910,000 after acquiring an additional 139 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Granite Construction by 8.5% during the fourth quarter. GAMMA Investing LLC now owns 2,178 shares of the construction company’s stock valued at $191,000 after acquiring an additional 171 shares during the period. Commonwealth Equity Services LLC lifted its holdings in shares of Granite Construction by 3.8% during the fourth quarter. Commonwealth Equity Services LLC now owns 6,055 shares of the construction company’s stock valued at $531,000 after acquiring an additional 223 shares during the period. Finally, Atomi Financial Group Inc. lifted its holdings in shares of Granite Construction by 6.7% during the fourth quarter. Atomi Financial Group Inc. now owns 4,769 shares of the construction company’s stock valued at $418,000 after acquiring an additional 301 shares during the period.

Insider Activity

In other news, SVP Brian R. Dowd sold 2,025 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $1,131,914. The trade was a 12.73 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO James A. Radich sold 2,500 shares of the business’s 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 $2,462,227.84. The trade was a 8.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.81% of the stock is currently owned by corporate insiders.

Granite Construction Stock Up 3.9 %

Shares of NYSE GVA opened at $75.94 on Thursday. The stock has a market cap of $3.30 billion, a PE ratio of 30.75 and a beta of 1.34. The business has a fifty day moving average of $84.41 and a two-hundred day moving average of $86.08. Granite Construction Incorporated has a 52-week low of $52.99 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.

Granite Construction (NYSE:GVA) last issued its quarterly earnings data 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). The company 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 period in the previous year, the firm posted $0.82 earnings per share. As a group, equities research analysts expect that Granite Construction Incorporated will post 5.49 earnings per share for the current fiscal year.

Granite Construction Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $0.13 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.68%. Granite Construction’s dividend payout ratio (DPR) is presently 21.05%.

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.