State of New Jersey Common Pension Fund D grew its stake in Granite Construction Incorporated (NYSE:GVA – Get Rating) by 11.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 73,294 shares of the construction company’s stock after purchasing an additional 7,302 shares during the quarter. State of New Jersey Common Pension Fund D owned approximately 0.16% of Granite Construction worth $2,404,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of the stock. Mutual of America Capital Management LLC raised its stake in shares of Granite Construction by 5.5% in the 1st quarter. Mutual of America Capital Management LLC now owns 6,604 shares of the construction company’s stock valued at $217,000 after purchasing an additional 343 shares in the last quarter. Sciencast Management LP bought a new stake in shares of Granite Construction during the 1st quarter valued at about $219,000. Bernzott Capital Advisors grew its position in shares of Granite Construction by 11.5% during the 1st quarter. Bernzott Capital Advisors now owns 773,425 shares of the construction company’s stock valued at $25,368,000 after buying an additional 79,472 shares during the last quarter. Barclays PLC grew its position in shares of Granite Construction by 9.9% during the 4th quarter. Barclays PLC now owns 74,208 shares of the construction company’s stock valued at $2,873,000 after buying an additional 6,679 shares during the last quarter. Finally, Advisors Asset Management Inc. grew its position in shares of Granite Construction by 8.3% during the 4th quarter. Advisors Asset Management Inc. now owns 111,446 shares of the construction company’s stock valued at $4,313,000 after buying an additional 8,536 shares during the last quarter. Institutional investors and hedge funds own 96.64% of the company’s stock.
Insiders Place Their Bets
In other Granite Construction news, CEO Kyle T. Larkin sold 8,000 shares of the company’s stock in a transaction dated Friday, May 6th. The shares were sold at an average price of $31.06, for a total value of $248,480.00. Following the completion of the transaction, the chief executive officer now owns 69,294 shares in the company, valued at approximately $2,152,271.64. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.99% of the stock is owned by insiders.
Granite Construction Price Performance
Granite Construction Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 15th. Investors of record on Thursday, June 30th were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date of this dividend was Wednesday, June 29th. Granite Construction’s dividend payout ratio is presently 94.55%.
About Granite Construction
Granite Construction Incorporated operates as an infrastructure contractor and a construction materials producer 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.
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