CenterBook Partners LP Buys New Shares in Granite Construction Incorporated (NYSE:GVA)

CenterBook Partners LP purchased a new stake in shares of Granite Construction Incorporated (NYSE:GVA) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 18,428 shares of the construction company’s stock, valued at approximately $1,616,000.

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

Insider Buying and Selling

In related news, SVP Brian R. Dowd sold 2,025 shares of the company’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $81.55, for a total transaction of $165,138.75. Following the transaction, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO James A. Radich sold 2,500 shares of the firm’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $87.14, for a total transaction of $217,850.00. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. 0.81% of the stock is owned by corporate insiders.

Granite Construction Price Performance

Shares of GVA stock opened at $77.31 on Friday. The stock’s fifty day simple moving average is $79.29 and its 200 day simple moving average is $86.03. Granite Construction Incorporated has a one year low of $52.99 and a one year high of $105.20. The firm has a market cap of $3.36 billion, a price-to-earnings ratio of 31.30 and a beta of 1.26. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.66 and a quick ratio of 1.56.

Granite Construction (NYSE:GVA) last posted its earnings results on Thursday, February 13th. The construction company reported $1.23 earnings per share for the quarter, missing the consensus estimate of $1.42 by ($0.19). Granite Construction had a return on equity of 20.67% and a net margin of 3.15%. The firm had revenue of $977.30 million during the quarter. During the same quarter last year, the firm posted $0.82 earnings per share. On average, 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 issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 0.67%. The ex-dividend date is Monday, March 31st. Granite Construction’s payout ratio is currently 21.05%.

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.