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

EFG Asset Management North America Corp. grew its position in shares of Granite Construction Incorporated (NYSE:GVA) by 86.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 68,004 shares of the construction company’s stock after purchasing an additional 31,573 shares during the quarter. Granite Construction makes up 0.8% of EFG Asset Management North America Corp.’s holdings, making the stock its 27th biggest holding. EFG Asset Management North America Corp. owned approximately 0.16% of Granite Construction worth $5,963,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. EntryPoint Capital LLC bought a new stake in shares of Granite Construction in the fourth quarter worth $218,000. KLP Kapitalforvaltning AS bought a new stake in shares of Granite Construction in the 4th quarter valued at about $764,000. Virtu Financial LLC grew its position in shares of Granite Construction by 25.4% in the 4th quarter. Virtu Financial LLC now owns 4,468 shares of the construction company’s stock valued at $392,000 after buying an additional 904 shares during the last quarter. Quantbot Technologies LP increased its stake in shares of Granite Construction by 635.0% in the fourth quarter. Quantbot Technologies LP now owns 33,624 shares of the construction company’s stock valued at $2,949,000 after buying an additional 29,049 shares during the period. Finally, Magnetar Financial LLC bought a new position in shares of Granite Construction during the fourth quarter worth about $510,000.

Insider Activity

In other Granite Construction news, COO James A. Radich sold 2,500 shares of Granite Construction stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $87.14, for a total value of $217,850.00. Following the completion of the sale, the chief operating officer now directly owns 28,256 shares in the company, valued at approximately $2,462,227.84. The trade was a 8.13 % decrease in their ownership of the stock. The sale 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 stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $81.55, for a total value of $165,138.75. Following the transaction, the senior vice president now owns 13,880 shares in the company, valued at $1,131,914. The trade was 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.

Granite Construction Stock Performance

Shares of GVA stock opened at $77.59 on Tuesday. The stock has a market capitalization of $3.37 billion, a PE ratio of 31.41 and a beta of 1.34. The business’s 50 day simple moving average is $83.74 and its 200 day simple moving average is $86.25. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.66 and a quick ratio of 1.56. Granite Construction Incorporated has a one year low of $52.99 and a one year high of $105.20.

Granite Construction (NYSE:GVA) last posted its quarterly earnings data 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). Granite Construction had a return on equity of 20.67% and a net margin of 3.15%. The firm had revenue of $977.30 million for the quarter. During the same period in the previous year, the business posted $0.82 EPS. As a group, research analysts forecast that Granite Construction Incorporated will post 5.49 earnings per share for the current year.

Granite Construction Dividend Announcement

The firm also recently disclosed 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. This represents a $0.52 annualized dividend and a dividend yield of 0.67%. The ex-dividend date of this dividend is Monday, March 31st. Granite Construction’s dividend payout ratio (DPR) is presently 21.05%.

Granite Construction Profile

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.