Arizona State Retirement System increased its position in Granite Construction Inc. (NYSE:GVA) by 26.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,684 shares of the construction company’s stock after purchasing an additional 6,086 shares during the period. Arizona State Retirement System owned approximately 0.07% of Granite Construction worth $1,819,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the stock. Public Employees Retirement System of Ohio boosted its stake in Granite Construction by 7.1% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 3,282 shares of the construction company’s stock worth $158,000 after purchasing an additional 218 shares in the last quarter. Royal Bank of Canada boosted its stake in Granite Construction by 56.3% in the 2nd quarter. Royal Bank of Canada now owns 2,441 shares of the construction company’s stock worth $118,000 after purchasing an additional 879 shares in the last quarter. ING Groep NV lifted its stake in Granite Construction by 23.2% during the 4th quarter. ING Groep NV now owns 6,013 shares of the construction company’s stock valued at $381,000 after acquiring an additional 1,134 shares during the period. American Century Companies Inc. lifted its stake in Granite Construction by 0.7% during the 3rd quarter. American Century Companies Inc. now owns 160,872 shares of the construction company’s stock valued at $9,323,000 after acquiring an additional 1,135 shares during the period. Finally, Advisor Group Inc. lifted its stake in Granite Construction by 169.1% during the 3rd quarter. Advisor Group Inc. now owns 1,862 shares of the construction company’s stock valued at $108,000 after acquiring an additional 1,170 shares during the period. Institutional investors own 96.05% of the company’s stock.
In other news, Director Claes Bjork sold 1,264 shares of the company’s stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $63.05, for a total transaction of $79,695.20. Following the completion of the sale, the director now owns 50,972 shares of the company’s stock, valued at approximately $3,213,784.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.30% of the stock is owned by corporate insiders.
Granite Construction Inc. (NYSE GVA) opened at $61.94 on Tuesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.78 and a current ratio of 1.88. The stock has a market cap of $2,470.00, a PE ratio of 38.47, a price-to-earnings-growth ratio of 2.77 and a beta of 1.30. Granite Construction Inc. has a one year low of $45.14 and a one year high of $68.58.
Granite Construction (NYSE:GVA) last posted its earnings results on Friday, February 16th. The construction company reported $0.72 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.04. The business had revenue of $801.30 million for the quarter, compared to analysts’ expectations of $753.83 million. Granite Construction had a net margin of 2.31% and a return on equity of 6.97%. The business’s revenue for the quarter was up 20.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.40 EPS. equities research analysts forecast that Granite Construction Inc. will post 3.2 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, April 13th. Stockholders of record on Friday, March 30th will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 0.84%. The ex-dividend date is Wednesday, March 28th. Granite Construction’s payout ratio is currently 32.30%.
Granite Construction Profile
Granite Construction Incorporated is a heavy civil contractor and construction materials producer in the United States. The Company operates through three segments: Construction, Large Project Construction and Construction Materials. The Company operates across the nation, serving both public and private sector clients.
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