Inceptionr LLC Lowers Holdings in Granite Construction Incorporated (NYSE:GVA)

Inceptionr LLC reduced its position in shares of Granite Construction Incorporated (NYSE:GVA) by 49.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,329 shares of the construction company’s stock after selling 3,202 shares during the quarter. Inceptionr LLC’s holdings in Granite Construction were worth $292,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Pacer Advisors Inc. purchased a new position in shares of Granite Construction during the fourth quarter valued at $92,154,000. Hill City Capital LP grew its holdings in Granite Construction by 5.2% during the 3rd quarter. Hill City Capital LP now owns 978,938 shares of the construction company’s stock worth $77,610,000 after acquiring an additional 48,440 shares in the last quarter. Hennessy Advisors Inc. purchased a new position in Granite Construction during the 4th quarter valued at about $61,046,000. Systematic Financial Management LP increased its position in Granite Construction by 3.2% during the 3rd quarter. Systematic Financial Management LP now owns 604,950 shares of the construction company’s stock valued at $47,960,000 after purchasing an additional 18,586 shares during the period. Finally, Mizuho Markets Americas LLC raised its holdings in shares of Granite Construction by 2.5% in the 3rd quarter. Mizuho Markets Americas LLC now owns 596,158 shares of the construction company’s stock valued at $47,263,000 after purchasing an additional 14,716 shares in the last quarter.

Granite Construction Price Performance

NYSE GVA opened at $73.87 on Monday. The company has a market cap of $3.21 billion, a PE ratio of 29.91 and a beta of 1.34. Granite Construction Incorporated has a 52-week low of $52.88 and a 52-week 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 firm’s 50 day moving average price is $86.87 and its 200-day moving average price is $86.20.

Granite Construction (NYSE:GVA) last announced its quarterly earnings results 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 company had revenue of $977.30 million during the quarter. Granite Construction had a net margin of 3.15% and a return on equity of 20.67%. During the same quarter in the previous year, the company earned $0.82 EPS. Sell-side analysts forecast that Granite Construction Incorporated will post 5.49 EPS for the current fiscal year.

Granite Construction Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 0.70%. The ex-dividend date of this dividend was Tuesday, December 31st. Granite Construction’s payout ratio is 21.05%.

Insider Activity

In other news, SVP Brian R. Dowd sold 2,025 shares of the stock in a transaction on Friday, February 28th. The stock was 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 approximately $1,131,914. This represents a 12.73 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO James A. Radich sold 2,500 shares of the business’s stock in a transaction on 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 approximately $2,462,227.84. This trade represents a 8.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company 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.