Toth Financial Advisory Corp Purchases 650 Shares of Granite Construction Incorporated (NYSE:GVA)

Toth Financial Advisory Corp increased its position in Granite Construction Incorporated (NYSE:GVA) by 35.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,500 shares of the construction company’s stock after purchasing an additional 650 shares during the quarter. Toth Financial Advisory Corp’s holdings in Granite Construction were worth $127,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in shares of Granite Construction by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 5,107,922 shares of the construction company’s stock worth $167,539,000 after buying an additional 44,497 shares in the last quarter. State Street Corp lifted its holdings in shares of Granite Construction by 58.4% during the third quarter. State Street Corp now owns 2,764,283 shares of the construction company’s stock valued at $70,544,000 after acquiring an additional 1,019,112 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Granite Construction by 2.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,390,934 shares of the construction company’s stock valued at $78,422,000 after purchasing an additional 47,937 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Granite Construction by 4.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 989,161 shares of the construction company’s stock worth $37,608,000 after purchasing an additional 41,575 shares during the last quarter. Finally, Bank of America Corp DE increased its position in shares of Granite Construction by 5.1% during the 1st quarter. Bank of America Corp DE now owns 918,536 shares of the construction company’s stock worth $37,733,000 after purchasing an additional 44,227 shares in the last quarter.

Insider Activity

In other news, Director Louis E. Caldera sold 1,263 shares of the company’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $50.00, for a total transaction of $63,150.00. Following the transaction, the director now owns 8,528 shares of the company’s stock, valued at $426,400. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.54% of the company’s stock.

Wall Street Analyst Weigh In

Separately, DA Davidson boosted their price target on shares of Granite Construction from $60.00 to $64.00 and gave the company a “buy” rating in a research report on Tuesday, February 27th.

Granite Construction Price Performance

Shares of GVA stock opened at $55.39 on Thursday. The stock’s fifty day moving average is $52.29 and its 200-day moving average is $47.05. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.49 and a current ratio of 1.60. Granite Construction Incorporated has a 52 week low of $33.74 and a 52 week high of $57.93. The stock has a market capitalization of $2.44 billion, a PE ratio of 72.88 and a beta of 1.46.

Granite Construction (NYSE:GVA) last posted its quarterly earnings data on Thursday, February 22nd. The construction company reported $0.82 earnings per share for the quarter, missing the consensus estimate of $0.84 by ($0.02). Granite Construction had a net margin of 1.24% and a return on equity of 14.15%. The company had revenue of $933.70 million during the quarter. During the same period in the previous year, the firm earned $0.56 EPS. Equities research analysts expect that Granite Construction Incorporated will post 4.29 EPS for the current fiscal year.

Granite Construction Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Thursday, March 28th will be given a $0.13 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $0.52 dividend on an annualized basis and a yield of 0.94%. Granite Construction’s payout ratio is 68.42%.

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.