Cibc World Markets Corp Invests $361,000 in Granite Construction Incorporated (NYSE:GVA)

Cibc World Markets Corp acquired a new position in shares of Granite Construction Incorporated (NYSE:GVA) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 4,121 shares of the construction company’s stock, valued at approximately $361,000.

A number of other institutional investors have also recently bought and sold shares of GVA. Pacer Advisors Inc. purchased a new stake in shares of Granite Construction during the 4th quarter worth about $92,154,000. Hill City Capital LP raised its position in Granite Construction by 5.2% during the third quarter. Hill City Capital LP now owns 978,938 shares of the construction company’s stock valued at $77,610,000 after acquiring an additional 48,440 shares in the last quarter. Hennessy Advisors Inc. bought a new position in Granite Construction during the fourth quarter valued at approximately $61,046,000. Systematic Financial Management LP grew its position in Granite Construction by 3.2% in the third quarter. Systematic Financial Management LP now owns 604,950 shares of the construction company’s stock worth $47,960,000 after acquiring an additional 18,586 shares in the last quarter. Finally, Fisher Asset Management LLC grew its position in Granite Construction by 86.4% in the third quarter. Fisher Asset Management LLC now owns 363,816 shares of the construction company’s stock worth $28,843,000 after acquiring an additional 168,673 shares in the last quarter.

Granite Construction Stock Up 1.8 %

Granite Construction stock opened at $77.59 on Tuesday. 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 firm’s fifty day simple moving average is $83.74 and its 200-day simple moving average is $86.25. The company has a market capitalization of $3.37 billion, a P/E ratio of 31.41 and a beta of 1.34.

Granite Construction (NYSE:GVA) last announced 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). The company had revenue of $977.30 million during the quarter. Granite Construction had a return on equity of 20.67% and a net margin of 3.15%. During the same period in the prior year, the company earned $0.82 earnings per share. Sell-side analysts forecast that Granite Construction Incorporated will post 5.49 earnings per share for the current fiscal year.

Granite Construction Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.52 dividend on an annualized basis and a yield of 0.67%. Granite Construction’s payout ratio is currently 21.05%.

Insider Buying and Selling at Granite Construction

In related news, COO James A. Radich sold 2,500 shares of the firm’s stock in a transaction 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 in the company, valued at approximately $2,462,227.84. This trade represents a 8.13 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Brian R. Dowd sold 2,025 shares of the business’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $81.55, for a total transaction of $165,138.75. Following the transaction, the senior vice president now directly owns 13,880 shares of the company’s stock, valued at approximately $1,131,914. This represents a 12.73 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.81% of the company’s stock.

Granite Construction Company 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.