Granite Construction Incorporated (NYSE:GVA) is First Washington CORP’s 9th Largest Position

First Washington CORP decreased its position in Granite Construction Incorporated (NYSE:GVA) by 0.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 81,216 shares of the construction company’s stock after selling 370 shares during the quarter. Granite Construction accounts for approximately 2.5% of First Washington CORP’s portfolio, making the stock its 9th largest position. First Washington CORP’s holdings in Granite Construction were worth $7,123,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Federated Hermes Inc. acquired a new position in Granite Construction in the 4th quarter valued at about $26,000. Aster Capital Management DIFC Ltd grew its holdings in shares of Granite Construction by 112.8% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 900 shares of the construction company’s stock valued at $79,000 after purchasing an additional 477 shares in the last quarter. Steward Partners Investment Advisory LLC purchased a new stake in Granite Construction during the 4th quarter worth approximately $89,000. Smartleaf Asset Management LLC lifted its holdings in Granite Construction by 193.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,345 shares of the construction company’s stock worth $119,000 after buying an additional 887 shares in the last quarter. Finally, KBC Group NV grew its stake in shares of Granite Construction by 26.6% in the fourth quarter. KBC Group NV now owns 1,751 shares of the construction company’s stock worth $154,000 after acquiring an additional 368 shares in the last quarter.

Insider Transactions at Granite Construction

In other Granite Construction news, COO James A. Radich sold 2,500 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $87.14, for a total value of $217,850.00. Following the sale, the chief operating officer now directly owns 28,256 shares in the company, valued at $2,462,227.84. This trade represents a 8.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Brian R. Dowd sold 2,025 shares of the company’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $81.55, for a total value of $165,138.75. Following the transaction, the senior vice president now directly owns 13,880 shares of the company’s stock, valued at approximately $1,131,914. This represents a 12.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.81% of the company’s stock.

Granite Construction Stock Down 0.2 %

Shares of NYSE GVA opened at $77.20 on Friday. The stock has a market cap of $3.35 billion, a P/E ratio of 31.25 and a beta of 1.26. The business’s fifty day simple moving average is $78.23 and its 200-day simple moving average is $85.93. Granite Construction Incorporated has a 12-month low of $53.00 and a 12-month high of $105.20. The company has a current ratio of 1.66, a quick ratio of 1.56 and a debt-to-equity ratio of 0.68.

Granite Construction (NYSE:GVA) last posted its quarterly earnings results 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). Granite Construction had a net margin of 3.15% and a return on equity of 20.67%. The company had revenue of $977.30 million during the quarter. During the same quarter in the prior year, the company earned $0.82 earnings per share. As a group, equities analysts predict that Granite Construction Incorporated will post 5.49 EPS for the current fiscal year.

Granite Construction Announces Dividend

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

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.