Virtu Financial LLC Boosts Stake in Granite Construction Incorporated (NYSE:GVA)

Virtu Financial LLC lifted its position in Granite Construction Incorporated (NYSE:GVA) by 25.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,468 shares of the construction company’s stock after purchasing an additional 904 shares during the quarter. Virtu Financial LLC’s holdings in Granite Construction were worth $392,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in GVA. Illinois Municipal Retirement Fund boosted its holdings in shares of Granite Construction by 0.5% in the fourth quarter. Illinois Municipal Retirement Fund now owns 23,747 shares of the construction company’s stock valued at $2,083,000 after acquiring an additional 115 shares during the period. Dorsey & Whitney Trust CO LLC raised its position in Granite Construction by 1.4% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 10,376 shares of the construction company’s stock valued at $910,000 after purchasing an additional 139 shares during the last quarter. GAMMA Investing LLC boosted its stake in Granite Construction by 8.5% during the 4th quarter. GAMMA Investing LLC now owns 2,178 shares of the construction company’s stock worth $191,000 after purchasing an additional 171 shares during the period. Commonwealth Equity Services LLC boosted its stake in Granite Construction by 3.8% during the 4th quarter. Commonwealth Equity Services LLC now owns 6,055 shares of the construction company’s stock worth $531,000 after purchasing an additional 223 shares during the period. Finally, Xponance Inc. grew its position in Granite Construction by 9.9% during the 4th quarter. Xponance Inc. now owns 3,168 shares of the construction company’s stock worth $278,000 after purchasing an additional 285 shares during the last quarter.

Granite Construction Price Performance

Shares of NYSE:GVA opened at $77.29 on Thursday. Granite Construction Incorporated has a one year low of $52.99 and a one year high of $105.20. The stock has a market capitalization of $3.36 billion, a price-to-earnings ratio of 31.29 and a beta of 1.34. The company has a 50-day simple moving average of $83.24 and a 200-day simple moving average of $86.24. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.56 and a current ratio of 1.66.

Granite Construction (NYSE:GVA) last posted its quarterly earnings data 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 net margin of 3.15% and a return on equity of 20.67%. The company had revenue of $977.30 million for the quarter. During the same period in the previous year, the company posted $0.82 earnings per share. On average, analysts predict that Granite Construction Incorporated will post 5.49 EPS for the current year.

Granite Construction Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 0.67%. The ex-dividend date is Monday, March 31st. Granite Construction’s dividend payout ratio is presently 21.05%.

Insider Activity at Granite Construction

In other news, COO James A. Radich sold 2,500 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $87.14, for a total transaction of $217,850.00. Following the completion of the transaction, the chief operating officer now directly owns 28,256 shares of the company’s stock, valued at approximately $2,462,227.84. This represents a 8.13 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Brian R. Dowd sold 2,025 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $81.55, for a total value of $165,138.75. Following the completion of the sale, the senior vice president now directly owns 13,880 shares of the company’s stock, valued at $1,131,914. This represents a 12.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.81% of the stock is currently owned by insiders.

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.