Envestnet Asset Management Inc. Has $1.05 Million Holdings in Granite Construction Incorporated (NYSE:GVA)

Envestnet Asset Management Inc. increased its position in Granite Construction Incorporated (NYSE:GVA) by 36.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,952 shares of the construction company’s stock after acquiring an additional 3,190 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Granite Construction were worth $1,048,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Integrated Quantitative Investments LLC bought a new position in Granite Construction during the fourth quarter worth $1,423,000. Leeward Financial Partners LLC acquired a new stake in Granite Construction in the 4th quarter worth $219,000. ExodusPoint Capital Management LP bought a new position in shares of Granite Construction during the 4th quarter worth about $5,847,000. Trexquant Investment LP raised its position in shares of Granite Construction by 343.7% during the fourth quarter. Trexquant Investment LP now owns 75,058 shares of the construction company’s stock valued at $6,583,000 after buying an additional 58,143 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC lifted its stake in shares of Granite Construction by 3.1% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 8,461 shares of the construction company’s stock valued at $742,000 after buying an additional 254 shares during the period.

Insider Activity

In other Granite Construction news, COO James A. Radich sold 2,500 shares of the stock in a transaction on Thursday, February 20th. The stock was 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 directly owns 28,256 shares in the company, valued at $2,462,227.84. This represents a 8.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Brian R. Dowd sold 2,025 shares of the business’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $81.55, for a total transaction of $165,138.75. Following the completion of the sale, 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 disclosure for this sale can be found here. In the last three months, insiders have sold 10,932 shares of company stock worth $896,979. Corporate insiders own 0.81% of the company’s stock.

Granite Construction Trading Down 2.3 %

Shares of GVA opened at $79.44 on Friday. The stock’s 50-day moving average price is $76.86 and its 200 day moving average price is $85.81. The company has a quick ratio of 1.56, a current ratio of 1.66 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $3.47 billion, a price-to-earnings ratio of 32.16 and a beta of 1.26. Granite Construction Incorporated has a 12-month low of $55.57 and a 12-month high of $105.20.

Granite Construction (NYSE:GVA) last released its quarterly earnings data on Thursday, May 1st. The construction company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.44. The business had revenue of $699.55 million for the quarter, compared to analysts’ expectations of $706.15 million. Granite Construction had a return on equity of 20.67% and a net margin of 3.15%. The firm’s quarterly revenue was up 4.0% on a year-over-year basis. As a group, research analysts predict that Granite Construction Incorporated will post 5.49 earnings per share for the current year.

Granite Construction Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date was Monday, March 31st. Granite Construction’s payout ratio is 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.