MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Buys 28,245 Shares of Granite Construction Incorporated (NYSE:GVA)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Granite Construction Incorporated (NYSE:GVA) by 5.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 530,971 shares of the construction company’s stock after acquiring an additional 28,245 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 1.21% of Granite Construction worth $46,572,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in GVA. Federated Hermes Inc. bought a new stake in Granite Construction during the 4th quarter worth about $26,000. Quarry LP grew its holdings in Granite Construction by 68.4% during the 4th quarter. Quarry LP now owns 325 shares of the construction company’s stock worth $29,000 after acquiring an additional 132 shares during the last quarter. Aster Capital Management DIFC Ltd grew its holdings in Granite Construction by 112.8% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 900 shares of the construction company’s stock worth $79,000 after acquiring an additional 477 shares during the last quarter. Steward Partners Investment Advisory LLC bought a new stake in Granite Construction during the 4th quarter worth about $89,000. Finally, Smartleaf Asset Management LLC grew 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 acquiring an additional 887 shares during the last quarter.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group increased their price objective on shares of Granite Construction from $69.00 to $76.00 and gave the stock a “sell” rating in a report on Monday, May 5th.

Granite Construction Stock Up 1.8%

Shares of NYSE GVA opened at $85.57 on Wednesday. The firm has a market capitalization of $3.74 billion, a PE ratio of 34.64 and a beta of 1.33. 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 Incorporated has a 1 year low of $58.23 and a 1 year high of $105.20. The firm’s 50-day moving average is $77.22 and its 200-day moving average is $85.85.

Granite Construction (NYSE:GVA) last issued its 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 company had revenue of $699.55 million for the quarter, compared to analyst estimates of $706.15 million. Granite Construction had a net margin of 3.15% and a return on equity of 20.67%. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. Equities analysts expect that Granite Construction Incorporated will post 5.49 EPS for the current year.

Granite Construction Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 0.61%. The ex-dividend date of this dividend was Monday, March 31st. Granite Construction’s dividend payout ratio (DPR) is presently 21.67%.

Insider Activity

In other news, CEO Kyle T. Larkin sold 2,790 shares of the firm’s stock in a transaction dated Thursday, April 24th. The shares were 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 of the company’s stock, valued at approximately $10,913,447.68. This trade represents a 2.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Brian R. Dowd sold 2,025 shares of the stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $81.55, for a total transaction of $165,138.75. Following the completion of the sale, the senior vice president now owns 13,880 shares in the company, valued at $1,131,914. This represents a 12.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 10,932 shares of company stock valued at $896,979. 0.81% of the stock is currently owned by insiders.

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.