EntryPoint Capital LLC Makes New $218,000 Investment in Granite Construction Incorporated (NYSE:GVA)

EntryPoint Capital LLC purchased a new position in shares of Granite Construction Incorporated (NYSE:GVA) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,482 shares of the construction company’s stock, valued at approximately $218,000.

Several other hedge funds also recently modified their holdings of GVA. Quantbot Technologies LP bought a new stake in Granite Construction in the 3rd quarter valued at $363,000. Verition Fund Management LLC acquired a new stake in Granite Construction during the third quarter worth about $273,000. Centiva Capital LP bought a new position in Granite Construction during the third quarter valued at about $1,320,000. Hill City Capital LP raised its holdings in Granite Construction by 5.2% in the 3rd quarter. Hill City Capital LP now owns 978,938 shares of the construction company’s stock valued at $77,610,000 after acquiring an additional 48,440 shares in the last quarter. Finally, HighTower Advisors LLC lifted its position in shares of Granite Construction by 176.4% in the 3rd quarter. HighTower Advisors LLC now owns 15,092 shares of the construction company’s stock worth $1,199,000 after acquiring an additional 9,631 shares during the period.

Granite Construction Stock Performance

GVA opened at $75.15 on Friday. The stock’s 50 day simple moving average is $82.57 and its 200-day simple moving average is $86.29. The company has a current ratio of 1.66, a quick ratio of 1.56 and a debt-to-equity ratio of 0.68. The stock has a market cap of $3.26 billion, a PE ratio of 30.42 and a beta of 1.34. Granite Construction Incorporated has a 1 year low of $52.99 and a 1 year high of $105.20.

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

Granite Construction Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $0.13 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.52 annualized dividend and a dividend yield of 0.69%. Granite Construction’s dividend payout ratio is currently 21.05%.

Insider Transactions at Granite Construction

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

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.