Advisors Asset Management Inc. Raises Stock Position in Granite Construction Incorporated (NYSE:GVA)

Advisors Asset Management Inc. boosted its position in shares of Granite Construction Incorporated (NYSE:GVA) by 15.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 106,602 shares of the construction company’s stock after acquiring an additional 14,651 shares during the period. Advisors Asset Management Inc. owned 0.24% of Granite Construction worth $9,350,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of GVA. Steward Partners Investment Advisory LLC purchased a new stake in shares of Granite Construction during the 4th quarter valued at $89,000. Smartleaf Asset Management LLC increased its position in Granite Construction by 193.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,345 shares of the construction company’s stock valued at $119,000 after buying an additional 887 shares in the last quarter. KBC Group NV raised its stake in Granite Construction by 26.6% in the fourth quarter. KBC Group NV now owns 1,751 shares of the construction company’s stock valued at $154,000 after buying an additional 368 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Granite Construction by 8.5% in the fourth quarter. GAMMA Investing LLC now owns 2,178 shares of the construction company’s stock worth $191,000 after acquiring an additional 171 shares in the last quarter. Finally, R Squared Ltd purchased a new stake in shares of Granite Construction during the fourth quarter worth about $211,000.

Granite Construction Stock Performance

Shares of Granite Construction stock opened at $73.19 on Wednesday. The firm has a market capitalization of $3.18 billion, a P/E ratio of 29.63 and a beta of 1.34. Granite Construction Incorporated has a 52 week low of $52.99 and a 52 week high of $105.20. The company has a quick ratio of 1.56, a current ratio of 1.66 and a debt-to-equity ratio of 0.68. The company has a 50 day moving average price of $84.66 and a 200 day moving average price of $86.15.

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 return on equity of 20.67% and a net margin of 3.15%. The company had revenue of $977.30 million for the quarter. During the same period in the prior year, the firm earned $0.82 EPS. Sell-side analysts expect that Granite Construction Incorporated will post 5.49 EPS for the current year.

Granite Construction Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.71%. Granite Construction’s dividend payout ratio is presently 21.05%.

Insider Transactions at Granite Construction

In other news, SVP Brian R. Dowd sold 2,025 shares of the company’s stock in a transaction 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 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO James A. Radich sold 2,500 shares of the firm’s stock in a transaction 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 transaction, the chief operating officer now directly owns 28,256 shares of the company’s stock, valued at approximately $2,462,227.84. This trade represents a 8.13 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.81% of the company’s stock.

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.