Granite Construction Incorporated (NYSE:GVA) Shares Sold by Peregrine Asset Advisers Inc.

Peregrine Asset Advisers Inc. decreased its holdings in shares of Granite Construction Incorporated (NYSE:GVA) by 2.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 56,940 shares of the construction company’s stock after selling 1,279 shares during the quarter. Granite Construction makes up approximately 1.8% of Peregrine Asset Advisers Inc.’s portfolio, making the stock its 17th biggest position. Peregrine Asset Advisers Inc.’s holdings in Granite Construction were worth $4,994,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. HighTower Advisors LLC lifted its position in shares of Granite Construction by 176.4% during the 3rd quarter. HighTower Advisors LLC now owns 15,092 shares of the construction company’s stock worth $1,199,000 after buying an additional 9,631 shares during the last quarter. Fiduciary Financial Group LLC acquired a new stake in Granite Construction during the 4th quarter worth $545,000. Pacer Advisors Inc. purchased a new stake in Granite Construction in the fourth quarter valued at $92,154,000. RPg Family Wealth Advisory LLC acquired a new position in Granite Construction in the third quarter valued at $4,163,000. Finally, Intech Investment Management LLC acquired a new position in Granite Construction in the third quarter valued at $1,312,000.

Insider Buying and Selling

In related news, 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 value of $217,850.00. Following the transaction, the chief operating officer now owns 28,256 shares in the company, valued at $2,462,227.84. The trade was a 8.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.81% of the stock is owned by company insiders.

Granite Construction Stock Down 2.9 %

GVA opened at $82.15 on Friday. Granite Construction Incorporated has a one year low of $48.11 and a one year high of $105.20. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.56 and a current ratio of 1.66. The stock has a market capitalization of $3.57 billion, a P/E ratio of 33.26 and a beta of 1.42. The business’s 50-day simple moving average is $89.01 and its 200-day simple moving average is $85.25.

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

Granite Construction Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given 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 0.63%. Granite Construction’s dividend payout ratio (DPR) is 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.