Yousif Capital Management LLC Sells 493 Shares of Granite Construction Incorporated (NYSE:GVA)

Yousif Capital Management LLC reduced its holdings in Granite Construction Incorporated (NYSE:GVA) by 3.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 16,146 shares of the construction company’s stock after selling 493 shares during the quarter. Yousif Capital Management LLC’s holdings in Granite Construction were worth $1,217,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in GVA. Asset Management One Co. Ltd. bought a new stake in shares of Granite Construction during the 4th quarter valued at about $4,963,000. New York State Teachers Retirement System boosted its position in shares of Granite Construction by 4.0% during the fourth quarter. New York State Teachers Retirement System now owns 69,359 shares of the construction company’s stock valued at $6,083,000 after purchasing an additional 2,689 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Granite Construction by 3.0% during the fourth quarter. Principal Financial Group Inc. now owns 213,100 shares of the construction company’s stock valued at $18,691,000 after purchasing an additional 6,275 shares in the last quarter. D.A. Davidson & CO. boosted its position in shares of Granite Construction by 0.7% during the fourth quarter. D.A. Davidson & CO. now owns 65,861 shares of the construction company’s stock valued at $5,777,000 after purchasing an additional 477 shares in the last quarter. Finally, Convergence Investment Partners LLC boosted its holdings in shares of Granite Construction by 53.6% during the 4th quarter. Convergence Investment Partners LLC now owns 21,073 shares of the construction company’s stock valued at $1,848,000 after buying an additional 7,352 shares in the last quarter.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group boosted their target price on shares of Granite Construction from $69.00 to $76.00 and gave the company a “sell” rating in a report on Monday, May 5th.

Granite Construction Trading Down 0.6%

Granite Construction stock opened at $88.70 on Wednesday. The company has a current ratio of 1.57, a quick ratio of 1.44 and a debt-to-equity ratio of 0.71. The business’s fifty day simple moving average is $84.29 and its two-hundred day simple moving average is $84.93. Granite Construction Incorporated has a 12 month low of $58.23 and a 12 month high of $105.20. The company has a market capitalization of $3.88 billion, a price-to-earnings ratio of 36.96 and a beta of 1.34.

Granite Construction (NYSE:GVA) last announced its quarterly earnings results on Thursday, May 1st. The construction company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.44. The company had revenue of $699.55 million for the quarter, compared to analysts’ expectations of $706.15 million. Granite Construction had a net margin of 3.07% and a return on equity of 21.40%. The company’s revenue was up 4.0% on a year-over-year basis. As a group, equities analysts predict that Granite Construction Incorporated will post 5.49 earnings per share for the current fiscal year.

Granite Construction Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be paid a $0.13 dividend. The ex-dividend date is Monday, June 30th. This represents a $0.52 annualized dividend and a dividend yield of 0.59%. Granite Construction’s dividend payout ratio is presently 21.67%.

Insider Transactions at Granite Construction

In other Granite Construction news, CEO Kyle T. Larkin sold 2,790 shares of the company’s stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $80.02, for a total transaction of $223,255.80. Following the transaction, the chief executive officer now owns 136,384 shares in the company, valued at approximately $10,913,447.68. This represents a 2.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Brian R. Dowd sold 2,025 shares of the stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $91.76, for a total transaction of $185,814.00. Following the transaction, the senior vice president now owns 18,819 shares in the company, valued at approximately $1,726,831.44. This trade represents a 9.72% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 8,432 shares of company stock worth $699,804. Corporate insiders own 0.81% 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.