Sonora Investment Management Group LLC Sells 1,000 Shares of Granite Construction Incorporated (NYSE:GVA)

Sonora Investment Management Group LLC lessened its position in shares of Granite Construction Incorporated (NYSE:GVA) by 20.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,811 shares of the construction company’s stock after selling 1,000 shares during the period. Sonora Investment Management Group LLC’s holdings in Granite Construction were worth $334,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in GVA. R Squared Ltd acquired a new position in shares of Granite Construction in the fourth quarter valued at about $211,000. Pacer Advisors Inc. acquired a new position in shares of Granite Construction during the 4th quarter worth approximately $92,154,000. KBC Group NV increased its holdings in shares of Granite Construction by 26.6% during the fourth quarter. KBC Group NV now owns 1,751 shares of the construction company’s stock worth $154,000 after purchasing an additional 368 shares during the period. Atomi Financial Group Inc. raised its position in shares of Granite Construction by 6.7% in the fourth quarter. Atomi Financial Group Inc. now owns 4,769 shares of the construction company’s stock valued at $418,000 after buying an additional 301 shares in the last quarter. Finally, Ballentine Partners LLC bought a new stake in shares of Granite Construction in the fourth quarter valued at approximately $242,000.

Granite Construction Trading Down 1.1 %

GVA opened at $88.17 on Friday. 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 $43.92 and a twelve month high of $105.20. The stock has a market capitalization of $3.85 billion, a price-to-earnings ratio of 40.45 and a beta of 1.43. The company has a 50-day simple moving average of $92.28 and a 200 day simple moving average of $83.18.

Granite Construction (NYSE:GVA) last issued its quarterly earnings results on Thursday, October 31st. The construction company reported $2.05 earnings per share for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.46). The firm had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.29 billion. Granite Construction had a return on equity of 19.04% and a net margin of 2.80%. The business’s revenue was up 14.2% on a year-over-year basis. During the same period last year, the company posted $1.69 EPS. Analysts predict that Granite Construction Incorporated will post 4.98 EPS for the current fiscal year.

Granite Construction Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 0.59%. The ex-dividend date of this dividend was Tuesday, December 31st. Granite Construction’s payout ratio is presently 23.85%.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group raised their price objective on Granite Construction from $61.00 to $70.00 and gave the stock a “sell” rating in a research note on Wednesday, October 9th.

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.