Versor Investments LP Makes New Investment in Granite Construction Incorporated (NYSE:GVA)

Versor Investments LP acquired a new position in Granite Construction Incorporated (NYSE:GVA) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 9,878 shares of the construction company’s stock, valued at approximately $866,000.

Several other hedge funds have also added to or reduced their stakes in GVA. Pacer Advisors Inc. purchased a new position in shares of Granite Construction in the fourth quarter worth about $92,154,000. Hennessy Advisors Inc. purchased a new position in shares of Granite Construction in the fourth quarter worth about $61,046,000. Fisher Asset Management LLC increased its stake in shares of 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 purchasing an additional 168,673 shares in the last quarter. Brightline Capital Management LLC purchased a new position in shares of Granite Construction in the third quarter worth about $11,971,000. Finally, Peregrine Asset Advisers Inc. purchased a new position in shares of Granite Construction in the third quarter worth about $4,616,000.

Insider Activity at Granite Construction

In related news, COO James A. Radich sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $87.14, for a total transaction of $217,850.00. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.81% of the stock is owned by corporate insiders.

Granite Construction Price Performance

GVA opened at $81.37 on Friday. The company has a market capitalization of $3.53 billion, a price-to-earnings ratio of 32.94 and a beta of 1.42. The company has a quick ratio of 1.56, a current ratio of 1.66 and a debt-to-equity ratio of 0.68. The firm has a 50-day moving average price of $88.44 and a 200-day moving average price of $85.64. Granite Construction Incorporated has a twelve month low of $49.90 and a twelve month high of $105.20.

Granite Construction (NYSE:GVA) last issued its quarterly earnings data on Thursday, February 13th. The construction company reported $1.23 EPS 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 net margin of 3.15% and a return on equity of 20.67%. During the same period in the prior year, the company posted $0.82 earnings per share. Equities analysts expect that Granite Construction Incorporated will post 5.49 EPS for the current year.

Granite Construction Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a dividend of $0.13 per share. The ex-dividend date was Tuesday, December 31st. This represents a $0.52 annualized dividend and a yield of 0.64%. Granite Construction’s dividend payout ratio is currently 21.05%.

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.