Nisa Investment Advisors LLC Sells 400 Shares of Granite Construction Incorporated (NYSE:GVA)

Nisa Investment Advisors LLC lowered its stake in Granite Construction Incorporated (NYSE:GVA) by 3.6% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 10,741 shares of the construction company’s stock after selling 400 shares during the period. Nisa Investment Advisors LLC’s holdings in Granite Construction were worth $546,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. PNC Financial Services Group Inc. lifted its position in shares of Granite Construction by 3.1% in the third quarter. PNC Financial Services Group Inc. now owns 8,192 shares of the construction company’s stock worth $311,000 after purchasing an additional 243 shares in the last quarter. Commonwealth Equity Services LLC lifted its position in shares of Granite Construction by 6.2% in the second quarter. Commonwealth Equity Services LLC now owns 6,332 shares of the construction company’s stock worth $252,000 after purchasing an additional 369 shares in the last quarter. MetLife Investment Management LLC lifted its position in shares of Granite Construction by 1.9% in the fourth quarter. MetLife Investment Management LLC now owns 23,019 shares of the construction company’s stock worth $807,000 after purchasing an additional 437 shares in the last quarter. Moors & Cabot Inc. raised its position in Granite Construction by 7.5% during the first quarter. Moors & Cabot Inc. now owns 7,161 shares of the construction company’s stock worth $235,000 after acquiring an additional 501 shares in the last quarter. Finally, Belpointe Asset Management LLC raised its position in Granite Construction by 320.6% during the first quarter. Belpointe Asset Management LLC now owns 673 shares of the construction company’s stock worth $28,000 after acquiring an additional 513 shares in the last quarter.

Granite Construction Price Performance

NYSE:GVA opened at $53.81 on Thursday. Granite Construction Incorporated has a one year low of $33.74 and a one year high of $57.93. The company has a market cap of $2.37 billion, a P/E ratio of 70.80 and a beta of 1.46. The firm’s fifty day moving average price is $53.21 and its two-hundred day moving average price is $47.65. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.60 and a quick ratio of 1.49.

Granite Construction (NYSE:GVA) last released its quarterly earnings data on Thursday, February 22nd. The construction company reported $0.82 EPS for the quarter, missing the consensus estimate of $0.84 by ($0.02). Granite Construction had a net margin of 1.24% and a return on equity of 14.15%. The company had revenue of $933.70 million during the quarter. During the same quarter in the prior year, the company posted $0.56 EPS. Equities analysts expect that Granite Construction Incorporated will post 4.29 earnings per share for the current year.

Granite Construction Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were issued a $0.13 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $0.52 annualized dividend and a dividend yield of 0.97%. Granite Construction’s dividend payout ratio is currently 68.42%.

Insider Buying and Selling at Granite Construction

In other Granite Construction news, Director Louis E. Caldera sold 1,263 shares of the company’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $50.00, for a total value of $63,150.00. Following the transaction, the director now directly owns 8,528 shares in the company, valued at $426,400. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. The Goldman Sachs Group upped their price target on shares of Granite Construction from $44.00 to $50.00 and gave the stock a “sell” rating in a research report on Tuesday. DA Davidson upped their price target on shares of Granite Construction from $60.00 to $64.00 and gave the stock a “buy” rating in a research report on Tuesday, February 27th.

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.