William Blair Investment Management LLC Boosts Stock Holdings in Granite Construction Incorporated (NYSE:GVA)

William Blair Investment Management LLC lifted its stake in shares of Granite Construction Incorporated (NYSE:GVA) by 2.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 339,167 shares of the construction company’s stock after acquiring an additional 8,230 shares during the quarter. William Blair Investment Management LLC’s holdings in Granite Construction were worth $29,748,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Pacer Advisors Inc. purchased a new stake in shares of Granite Construction during the fourth quarter worth $92,154,000. Hill City Capital LP increased its holdings in Granite Construction by 5.2% in the third quarter. Hill City Capital LP now owns 978,938 shares of the construction company’s stock valued at $77,610,000 after buying an additional 48,440 shares during the last quarter. Hennessy Advisors Inc. purchased a new position in Granite Construction in the fourth quarter valued at $61,046,000. Systematic Financial Management LP increased its holdings in Granite Construction by 3.2% in the third quarter. Systematic Financial Management LP now owns 604,950 shares of the construction company’s stock valued at $47,960,000 after buying an additional 18,586 shares during the last quarter. Finally, Fisher Asset Management LLC increased its holdings in Granite Construction by 86.4% in the third quarter. Fisher Asset Management LLC now owns 363,816 shares of the construction company’s stock valued at $28,843,000 after buying an additional 168,673 shares during the last quarter.

Insider Buying and Selling at Granite Construction

In other Granite Construction news, SVP Brian R. Dowd sold 2,025 shares of the company’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $81.55, for a total value of $165,138.75. Following the completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO James A. Radich sold 2,500 shares of the company’s stock in a transaction on 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 transaction, the chief operating officer now owns 28,256 shares of the company’s stock, valued at $2,462,227.84. This represents a 8.13 % decrease in their position. The disclosure for this sale can be found here. 0.81% of the stock is currently owned by insiders.

Granite Construction Stock Performance

NYSE:GVA opened at $73.19 on Wednesday. The firm has a market capitalization of $3.18 billion, a PE ratio of 29.63 and a beta of 1.34. The business’s fifty day moving average price is $84.66 and its 200 day moving average price is $86.15. 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 Incorporated has a 12 month low of $52.99 and a 12 month high of $105.20.

Granite Construction (NYSE:GVA) last posted its 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 business had revenue of $977.30 million during the quarter. Granite Construction had a net margin of 3.15% and a return on equity of 20.67%. During the same quarter in the previous year, the business earned $0.82 earnings per share. On average, sell-side analysts anticipate that Granite Construction Incorporated will post 5.49 earnings per share for the current fiscal year.

Granite Construction Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 0.71%. Granite Construction’s dividend payout ratio is presently 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.