Empower Advisory Group LLC Has $26.34 Million Stock Position in Granite Construction Incorporated (NYSE:GVA)

Empower Advisory Group LLC lessened its position in Granite Construction Incorporated (NYSE:GVA) by 12.1% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 300,339 shares of the construction company’s stock after selling 41,402 shares during the period. Empower Advisory Group LLC owned approximately 0.69% of Granite Construction worth $26,343,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Pacer Advisors Inc. bought a new position in shares of Granite Construction in the fourth quarter valued at $92,154,000. Hennessy Advisors Inc. bought a new position in Granite Construction in the 4th quarter valued at about $61,046,000. Fisher Asset Management LLC boosted its stake in Granite Construction by 86.4% during the 3rd quarter. Fisher Asset Management LLC now owns 363,816 shares of the construction company’s stock valued at $28,843,000 after purchasing an additional 168,673 shares during the last quarter. Brightline Capital Management LLC bought a new stake in Granite Construction during the 3rd quarter worth approximately $11,971,000. Finally, Peregrine Asset Advisers Inc. purchased a new stake in shares of Granite Construction in the third quarter worth approximately $4,616,000.

Granite Construction Stock Down 0.5 %

GVA stock opened at $86.77 on Tuesday. The firm has a market capitalization of $3.79 billion, a PE ratio of 39.80 and a beta of 1.42. The company has a quick ratio of 1.46, a current ratio of 1.56 and a debt-to-equity ratio of 0.69. Granite Construction Incorporated has a twelve month low of $48.11 and a twelve month high of $105.20. The stock’s 50 day moving average is $89.82 and its 200-day moving average is $85.02.

Granite Construction (NYSE:GVA) last posted its quarterly earnings data on Thursday, February 13th. The construction company reported $1.23 earnings per share (EPS) 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 return on equity of 19.04% and a net margin of 2.80%. During the same quarter last year, the company earned $0.82 earnings per share. Sell-side analysts expect that Granite Construction Incorporated will post 4.98 EPS for the current fiscal year.

Granite Construction Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a $0.13 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.52 annualized dividend and a yield of 0.60%. Granite Construction’s dividend payout ratio (DPR) 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.