Third Point increases ownership of Granite Construction

By Lisa Kerner

Charlotte, N.C., July 16 - Granite Construction Inc. investors led by Third Point LLC bought 1,239,700 shares of the company's stock between June 29 and July 16, priced from $64.18 and $73.70 per share, according to a schedule 13D filing with the Securities and Exchange Commission.

The reporting persons beneficially own 4,000,000 shares, or 9.4%, of the Watsonville, Calif., heavy civil construction contractor's outstanding stock.

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