Sei Investments Co. Trims Holdings in Granite Construction Incorporated (NYSE:GVA)

Sei Investments Co. trimmed its stake in shares of Granite Construction Incorporated (NYSE:GVA) by 79.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 7,095 shares of the construction company’s stock after selling 27,992 shares during the quarter. Sei Investments Co.’s holdings in Granite Construction were worth $622,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in GVA. Virtu Financial LLC increased its position in shares of Granite Construction by 25.4% during the fourth quarter. Virtu Financial LLC now owns 4,468 shares of the construction company’s stock valued at $392,000 after buying an additional 904 shares during the period. Quantbot Technologies LP lifted its stake in Granite Construction by 635.0% in the 4th quarter. Quantbot Technologies LP now owns 33,624 shares of the construction company’s stock worth $2,949,000 after purchasing an additional 29,049 shares in the last quarter. Magnetar Financial LLC bought a new position in Granite Construction in the 4th quarter valued at $510,000. Teacher Retirement System of Texas grew its position in shares of Granite Construction by 35.2% during the 4th quarter. Teacher Retirement System of Texas now owns 26,319 shares of the construction company’s stock valued at $2,308,000 after purchasing an additional 6,852 shares in the last quarter. Finally, Xponance Inc. boosted its stake in Granite Construction by 9.9% during the fourth quarter. Xponance Inc. now owns 3,168 shares of the construction company’s stock valued at $278,000 after buying an additional 285 shares during the period.

Insider Activity at Granite Construction

In other 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 value of $165,138.75. Following the sale, the senior vice president now directly owns 13,880 shares of the company’s stock, valued at $1,131,914. This represents a 12.73 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO James A. Radich sold 2,500 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $87.14, for a total transaction of $217,850.00. Following the sale, the chief operating officer now directly owns 28,256 shares in the company, 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 company insiders.

Granite Construction Price Performance

Shares of NYSE GVA opened at $77.49 on Thursday. The stock’s 50-day simple moving average is $79.48 and its two-hundred day simple moving average is $86.05. Granite Construction Incorporated has a twelve month low of $52.99 and a twelve month high of $105.20. The firm has a market capitalization of $3.37 billion, a P/E ratio of 31.37 and a beta of 1.26. The company has a quick ratio of 1.56, a current ratio of 1.66 and a debt-to-equity ratio of 0.68.

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

Granite Construction Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a $0.13 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.52 annualized dividend and a dividend yield of 0.67%. Granite Construction’s payout ratio is presently 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.