Cwm LLC Grows Stake in Granite Construction Incorporated (NYSE:GVA)

Cwm LLC increased its position in shares of Granite Construction Incorporated (NYSE:GVA) by 26.5% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 674 shares of the construction company’s stock after purchasing an additional 141 shares during the quarter. Cwm LLC’s holdings in Granite Construction were worth $51,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the company. Principal Financial Group Inc. raised its stake in shares of Granite Construction by 1.8% during the 1st quarter. Principal Financial Group Inc. now owns 216,837 shares of the construction company’s stock worth $16,350,000 after buying an additional 3,737 shares during the last quarter. Golden State Wealth Management LLC increased its holdings in Granite Construction by 16.6% during the 1st quarter. Golden State Wealth Management LLC now owns 5,101 shares of the construction company’s stock valued at $385,000 after acquiring an additional 725 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in Granite Construction during the fourth quarter worth about $1,465,000. Blue Trust Inc. raised its position in Granite Construction by 40.5% during the first quarter. Blue Trust Inc. now owns 781 shares of the construction company’s stock worth $59,000 after acquiring an additional 225 shares during the last quarter. Finally, Asset Management One Co. Ltd. lifted its holdings in shares of Granite Construction by 16.6% in the first quarter. Asset Management One Co. Ltd. now owns 64,952 shares of the construction company’s stock valued at $4,897,000 after purchasing an additional 9,255 shares in the last quarter.

Insider Activity

In other Granite Construction news, SVP Brian R. Dowd sold 2,025 shares of Granite Construction stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $91.76, for a total value of $185,814.00. Following the completion of the sale, the senior vice president directly owned 18,819 shares of the company’s stock, valued at approximately $1,726,831.44. The trade was a 9.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.81% of the company’s stock.

Granite Construction Stock Performance

NYSE GVA opened at $92.32 on Friday. The company has a quick ratio of 1.44, a current ratio of 1.57 and a debt-to-equity ratio of 0.71. Granite Construction Incorporated has a fifty-two week low of $65.13 and a fifty-two week high of $105.20. The business has a fifty day moving average of $92.00 and a 200-day moving average of $85.21. The stock has a market cap of $4.04 billion, a price-to-earnings ratio of 38.47 and a beta of 1.39.

Granite Construction (NYSE:GVA) last announced its earnings results on Thursday, May 1st. The construction company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.43) by $0.44. Granite Construction had a net margin of 3.07% and a return on equity of 21.40%. The firm had revenue of $699.55 million during the quarter, compared to the consensus estimate of $706.15 million. The company’s revenue was up 4.0% compared to the same quarter last year. As a group, 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 disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $0.52 annualized dividend and a dividend yield of 0.6%. Granite Construction’s dividend payout ratio is presently 21.67%.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group raised their price objective on shares of Granite Construction from $69.00 to $76.00 and gave the stock a “sell” rating in a research note on Monday, May 5th.

Granite Construction 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.