Quadrant Capital Group LLC Sells 321 Shares of Granite Construction Incorporated (NYSE:GVA)

Quadrant Capital Group LLC decreased its position in Granite Construction Incorporated (NYSE:GVA) by 20.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,227 shares of the construction company’s stock after selling 321 shares during the quarter. Quadrant Capital Group LLC’s holdings in Granite Construction were worth $62,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC bought a new stake in shares of Granite Construction during the fourth quarter worth $43,000. Toth Financial Advisory Corp grew its holdings in Granite Construction by 35.1% during the 4th quarter. Toth Financial Advisory Corp now owns 2,500 shares of the construction company’s stock worth $127,000 after acquiring an additional 650 shares during the last quarter. Caxton Associates LP acquired a new stake in Granite Construction in the 3rd quarter valued at about $241,000. HighTower Advisors LLC bought a new position in shares of Granite Construction in the third quarter worth about $279,000. Finally, Raymond James Financial Services Advisors Inc. acquired a new position in shares of Granite Construction during the fourth quarter worth approximately $290,000.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. The Goldman Sachs Group lifted their target price on shares of Granite Construction from $44.00 to $50.00 and gave the stock a “sell” rating in a report on Tuesday, April 16th. DA Davidson upped their price objective on Granite Construction from $60.00 to $64.00 and gave the company a “buy” rating in a report on Tuesday, February 27th.

Insiders Place Their Bets

In other news, SVP Bradley Jay Williams sold 750 shares of the business’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $61.21, for a total value of $45,907.50. Following the completion of the sale, the senior vice president now owns 7,423 shares of the company’s stock, valued at $454,361.83. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, SVP Bradley Jay Williams sold 750 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $61.21, for a total transaction of $45,907.50. Following the completion of the sale, the senior vice president now owns 7,423 shares of the company’s stock, valued at $454,361.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Louis E. Caldera sold 1,263 shares of the stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $50.00, for a total transaction of $63,150.00. Following the completion of the transaction, the director now directly owns 8,528 shares of the company’s stock, valued at approximately $426,400. The disclosure for this sale can be found here. Company insiders own 0.54% of the company’s stock.

Granite Construction Stock Performance

Shares of GVA opened at $62.43 on Monday. The stock has a market capitalization of $2.76 billion, a price-to-earnings ratio of 105.81 and a beta of 1.45. Granite Construction Incorporated has a 12 month low of $33.74 and a 12 month high of $64.33. The firm has a fifty day simple moving average of $57.48 and a 200 day simple moving average of $51.59. The company has a current ratio of 1.51, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51.

Granite Construction (NYSE:GVA) last posted its quarterly earnings data on Thursday, May 2nd. The construction company reported ($0.21) EPS for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.28. Granite Construction had a net margin of 0.98% and a return on equity of 14.91%. The company had revenue of $672.28 million during the quarter. Research analysts forecast that Granite Construction Incorporated will post 4.76 EPS for the current fiscal year.

Granite Construction Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date of this dividend was Wednesday, March 27th. Granite Construction’s dividend payout ratio is 88.14%.

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.