EFG Asset Management North America Corp. Has $5.96 Million Stake in Granite Construction Incorporated (NYSE:GVA)

EFG Asset Management North America Corp. increased its position in Granite Construction Incorporated (NYSE:GVA) by 86.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 68,004 shares of the construction company’s stock after buying an additional 31,573 shares during the quarter. Granite Construction accounts for approximately 0.8% of EFG Asset Management North America Corp.’s holdings, making the stock its 27th biggest position. EFG Asset Management North America Corp.’s holdings in Granite Construction were worth $5,963,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Natixis Advisors LLC boosted its stake in Granite Construction by 6.2% during the 3rd quarter. Natixis Advisors LLC now owns 13,712 shares of the construction company’s stock valued at $1,087,000 after purchasing an additional 806 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Granite Construction by 20.4% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 14,354 shares of the construction company’s stock valued at $1,138,000 after buying an additional 2,433 shares during the last quarter. Intech Investment Management LLC purchased a new position in shares of Granite Construction during the third quarter valued at approximately $1,312,000. Raymond James Trust N.A. bought a new stake in Granite Construction during the third quarter worth $239,000. Finally, Algert Global LLC raised its position in Granite Construction by 560.9% in the 3rd quarter. Algert Global LLC now owns 29,292 shares of the construction company’s stock valued at $2,322,000 after buying an additional 24,860 shares during the last quarter.

Granite Construction Price Performance

Shares of NYSE:GVA opened at $77.59 on Tuesday. Granite Construction Incorporated has a 1-year low of $52.99 and a 1-year high of $105.20. 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 $3.37 billion, a PE ratio of 31.41 and a beta of 1.34. The stock’s fifty day simple moving average is $83.74 and its two-hundred day simple moving average is $86.25.

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 the consensus estimate of $1.42 by ($0.19). The firm 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 quarter in the previous year, the business posted $0.82 EPS. As a group, analysts forecast that Granite Construction Incorporated will post 5.49 EPS 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. Investors of record on Monday, March 31st will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date of this dividend is Monday, March 31st. Granite Construction’s payout ratio is 21.05%.

Insider Buying and Selling

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 sale, the chief operating officer now owns 28,256 shares of the company’s stock, valued at approximately $2,462,227.84. The trade was a 8.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Brian R. Dowd sold 2,025 shares of the company’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 transaction, the senior vice president now owns 13,880 shares in the company, valued at approximately $1,131,914. The trade was 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 corporate 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.