Granite Construction Incorporated (NYSE:GVA) Shares Sold by Fisher Asset Management LLC

Fisher Asset Management LLC lessened its stake in shares of Granite Construction Incorporated (NYSE:GVA) by 6.4% in the 4th quarter, Holdings Channel reports. The firm owned 194,397 shares of the construction company’s stock after selling 13,377 shares during the period. Fisher Asset Management LLC’s holdings in Granite Construction were worth $9,887,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Adage Capital Partners GP L.L.C. acquired a new position in shares of Granite Construction during the 3rd quarter worth about $8,554,000. Empower Advisory Group LLC raised its holdings in Granite Construction by 2.0% in the 3rd quarter. Empower Advisory Group LLC now owns 378,995 shares of the construction company’s stock valued at $14,409,000 after acquiring an additional 7,298 shares during the last quarter. Illinois Municipal Retirement Fund acquired a new stake in Granite Construction in the 3rd quarter valued at about $978,000. Rock Point Advisors LLC raised its holdings in Granite Construction by 0.9% in the 3rd quarter. Rock Point Advisors LLC now owns 138,430 shares of the construction company’s stock valued at $5,263,000 after acquiring an additional 1,172 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in Granite Construction by 8.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 391,957 shares of the construction company’s stock valued at $14,902,000 after acquiring an additional 31,438 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. The Goldman Sachs Group boosted their price objective on Granite Construction from $44.00 to $50.00 and gave the stock a “sell” rating in a research note on Tuesday, April 16th. DA Davidson upped their price objective on shares of Granite Construction from $60.00 to $64.00 and gave the company a “buy” rating in a report on Tuesday, February 27th.

Granite Construction Trading Up 0.7 %

GVA opened at $59.82 on Tuesday. The stock has a market capitalization of $2.64 billion, a PE ratio of 101.39 and a beta of 1.45. Granite Construction Incorporated has a one year low of $33.74 and a one year high of $61.62. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.51. The business’s 50 day moving average price is $54.85 and its 200 day moving average price is $49.40.

Granite Construction (NYSE:GVA) last posted its earnings results on Thursday, February 22nd. The construction company reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.02). The business had revenue of $933.70 million during the quarter. Granite Construction had a net margin of 0.98% and a return on equity of 14.91%. During the same quarter in the prior year, the company earned $0.56 EPS. As a group, equities research analysts expect that Granite Construction Incorporated will post 4.29 EPS for the current year.

Granite Construction Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend was Wednesday, March 27th. Granite Construction’s dividend payout ratio (DPR) is presently 88.14%.

Insider Buying and Selling at Granite Construction

In other news, Director Louis E. Caldera sold 1,263 shares of the company’s stock in a transaction that occurred 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 approximately $426,400. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.54% of the company’s stock.

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.