Connable Office Inc. Trims Stock Position in Granite Construction Incorporated (NYSE:GVA)

Connable Office Inc. cut its holdings in shares of Granite Construction Incorporated (NYSE:GVA) by 6.6% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 3,067 shares of the construction company’s stock after selling 217 shares during the quarter. Connable Office Inc.’s holdings in Granite Construction were worth $269,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in GVA. KBC Group NV lifted its position in Granite Construction by 26.6% during the fourth quarter. KBC Group NV now owns 1,751 shares of the construction company’s stock worth $154,000 after buying an additional 368 shares during the period. GAMMA Investing LLC lifted its position in Granite Construction by 8.5% during the fourth quarter. GAMMA Investing LLC now owns 2,178 shares of the construction company’s stock worth $191,000 after buying an additional 171 shares during the period. Point72 DIFC Ltd acquired a new stake in Granite Construction during the third quarter worth about $203,000. R Squared Ltd acquired a new stake in Granite Construction during the fourth quarter worth about $211,000. Finally, CIBC Asset Management Inc acquired a new stake in Granite Construction during the third quarter worth about $214,000.

Insider Activity

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

Granite Construction Stock Performance

Shares of NYSE:GVA opened at $82.51 on Friday. The firm has a market capitalization of $3.58 billion, a PE ratio of 33.40 and a beta of 1.42. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.66 and a quick ratio of 1.56. The business has a 50-day moving average of $88.26 and a two-hundred day moving average of $85.61. Granite Construction Incorporated has a 12 month low of $50.81 and a 12 month high of $105.20.

Granite Construction (NYSE:GVA) last announced its quarterly earnings results on Thursday, February 13th. The construction company reported $1.23 EPS for the quarter, missing the consensus estimate of $1.42 by ($0.19). The firm had revenue of $977.30 million for the quarter. Granite Construction had a return on equity of 20.67% and a net margin of 3.15%. During the same period in the previous year, the company earned $0.82 EPS. As a group, research analysts forecast that Granite Construction Incorporated will post 5.49 earnings per share for the current year.

Granite Construction Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a $0.13 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.63%. Granite Construction’s dividend payout ratio (DPR) is currently 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.