Boston Partners Purchases 15,597 Shares of Granite Construction Incorporated (NYSE:GVA)

Boston Partners lifted its position in shares of Granite Construction Incorporated (NYSE:GVA) by 2.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 584,398 shares of the construction company’s stock after buying an additional 15,597 shares during the quarter. Boston Partners’ holdings in Granite Construction were worth $51,813,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC bought a new position in Granite Construction during the 4th quarter worth $89,000. Smartleaf Asset Management LLC raised its stake in Granite Construction by 193.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,345 shares of the construction company’s stock worth $119,000 after purchasing an additional 887 shares in the last quarter. KBC Group NV boosted its holdings in Granite Construction by 26.6% in the 4th quarter. KBC Group NV now owns 1,751 shares of the construction company’s stock valued at $154,000 after purchasing an additional 368 shares during the period. GAMMA Investing LLC boosted its holdings in Granite Construction by 8.5% in the 4th quarter. GAMMA Investing LLC now owns 2,178 shares of the construction company’s stock valued at $191,000 after purchasing an additional 171 shares during the period. Finally, Point72 DIFC Ltd bought a new position in shares of Granite Construction during the third quarter worth approximately $203,000.

Granite Construction Stock Up 3.9 %

NYSE GVA opened at $75.94 on Thursday. The company has a current ratio of 1.66, a quick ratio of 1.56 and a debt-to-equity ratio of 0.68. Granite Construction Incorporated has a 1-year low of $52.99 and a 1-year high of $105.20. The company has a 50 day moving average of $84.41 and a 200-day moving average of $86.08. The company has a market cap of $3.30 billion, a price-to-earnings ratio of 30.75 and a beta of 1.34.

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

Granite Construction Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a $0.13 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.68%. Granite Construction’s payout ratio is 21.05%.

Insider Activity

In related news, COO James A. Radich sold 2,500 shares of Granite Construction stock in a transaction that occurred 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 transaction, the chief operating officer now directly owns 28,256 shares of the company’s stock, valued at $2,462,227.84. This trade represents a 8.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Brian R. Dowd sold 2,025 shares of the firm’s stock in a transaction dated 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 in the company, valued at $1,131,914. This trade 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 owned by company 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.