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Third Point reduces stake in Granite Construction
By Lisa Kerner
Charlotte, N.C., Oct. 31 - Third Point LLC sold 1,828,900 shares of Granite Construction Inc. stock, reducing its stake in the company to 1,862,100 shares, or 4.4%, from 7.4% on Aug. 22.
The shares were sold between Sept. 28 and Oct. 30 priced from $42.03 to $53.88 each, according to a schedule 13D filing with the Securities and Exchange Commission.
It was previously reported that Third Point owned 4 million shares, or 9.4%, of the company on July 16.
Granite is a Watsonville, Calif., heavy civil construction contractor.
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