Los Angeles Capital Management LLC Sells 6,880 Shares of Granite Construction Incorporated $GVA

Los Angeles Capital Management LLC lessened its holdings in Granite Construction Incorporated (NYSE:GVA) by 14.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 42,304 shares of the construction company’s stock after selling 6,880 shares during the period. Los Angeles Capital Management LLC owned approximately 0.10% of Granite Construction worth $4,880,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of GVA. Evergreen Capital Management LLC increased its position in Granite Construction by 4.5% during the second quarter. Evergreen Capital Management LLC now owns 2,813 shares of the construction company’s stock valued at $263,000 after acquiring an additional 120 shares during the last quarter. State of Alaska Department of Revenue increased its position in Granite Construction by 0.9% during the fourth quarter. State of Alaska Department of Revenue now owns 22,224 shares of the construction company’s stock valued at $2,563,000 after acquiring an additional 191 shares during the last quarter. Oregon Public Employees Retirement Fund increased its position in Granite Construction by 2.0% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 10,031 shares of the construction company’s stock valued at $1,157,000 after acquiring an additional 200 shares during the last quarter. Federated Hermes Inc. increased its position in Granite Construction by 94.6% during the third quarter. Federated Hermes Inc. now owns 436 shares of the construction company’s stock valued at $48,000 after acquiring an additional 212 shares during the last quarter. Finally, 12th Street Asset Management Company LLC increased its position in Granite Construction by 0.3% during the fourth quarter. 12th Street Asset Management Company LLC now owns 62,216 shares of the construction company’s stock valued at $7,177,000 after acquiring an additional 213 shares during the last quarter.

Insider Buying and Selling at Granite Construction

In other news, SVP Bradley Jay Williams sold 6,734 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $141.00, for a total transaction of $949,494.00. Following the sale, the senior vice president owned 7,041 shares of the company’s stock, valued at $992,781. This trade represents a 48.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Kyle T. Larkin sold 26,651 shares of Granite Construction stock in a transaction that occurred on Friday, March 27th. The shares were sold at an average price of $118.12, for a total transaction of $3,148,016.12. Following the transaction, the chief executive officer directly owned 114,881 shares of the company’s stock, valued at approximately $13,569,743.72. This trade represents a 18.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 49,722 shares of company stock worth $6,214,036 in the last 90 days. Corporate insiders own 0.88% of the company’s stock.

Granite Construction Stock Down 1.0%

NYSE:GVA opened at $139.87 on Tuesday. The firm has a market cap of $6.12 billion, a PE ratio of 40.31 and a beta of 1.32. The company has a 50-day moving average of $130.70 and a 200 day moving average of $124.07. Granite Construction Incorporated has a 1-year low of $87.72 and a 1-year high of $145.00. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.09 and a quick ratio of 0.97.

Granite Construction (NYSE:GVA) last released its quarterly earnings results on Thursday, April 30th. The construction company reported $0.26 EPS for the quarter, beating the consensus estimate of ($0.77) by $1.03. The business had revenue of $912.47 million during the quarter, compared to analyst estimates of $782.26 million. Granite Construction had a net margin of 3.99% and a return on equity of 24.90%. The company’s quarterly revenue was up 30.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.01 earnings per share. As a group, research analysts anticipate that Granite Construction Incorporated will post 5.13 EPS for the current fiscal year.

Granite Construction Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 0.4%. The ex-dividend date is Tuesday, June 30th. Granite Construction’s dividend payout ratio is 14.99%.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Wall Street Zen cut shares of Granite Construction from a “buy” rating to a “hold” rating in a report on Saturday, May 30th. DA Davidson upped their price target on shares of Granite Construction from $130.00 to $155.00 and gave the stock a “buy” rating in a report on Friday, February 13th. Weiss Ratings cut shares of Granite Construction from a “buy (b)” rating to a “hold (c+)” rating in a report on Wednesday, May 6th. Zacks Research upgraded shares of Granite Construction to a “hold” rating in a report on Friday, May 29th. Finally, Oppenheimer assumed coverage on shares of Granite Construction in a report on Thursday, May 28th. They issued an “outperform” rating and a $170.00 price target on the stock. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $149.67.

Granite Construction Profile

Granite Construction Inc is a publicly traded heavy civil contractor and construction materials producer based in Watsonville, California. The company specializes in delivering large-scale infrastructure projects for government and private clients, focusing on the development, rehabilitation and maintenance of transportation, water resource and industrial facilities. Its turnkey solutions span the full project lifecycle, from preconstruction and design-build to construction management and facilities maintenance.

In its construction segment, Granite undertakes highway and bridge building, airport runway and taxiway construction, marine terminal and port improvements, dam and reservoir projects, transit systems and underground utilities.