Granite Construction Incorporated (NYSE:GVA) SVP Sells $45,907.50 in Stock

Granite Construction Incorporated (NYSE:GVA) SVP Bradley Jay Williams sold 750 shares of the business’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $61.21, for a total value of $45,907.50. Following the sale, the senior vice president now owns 7,423 shares in the company, valued at approximately $454,361.83. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Granite Construction Trading Up 1.2 %

Shares of GVA opened at $62.06 on Friday. Granite Construction Incorporated has a 52-week low of $33.74 and a 52-week high of $62.50. The stock has a market cap of $2.74 billion, a PE ratio of 105.19 and a beta of 1.45. The firm’s fifty day moving average is $55.46 and its two-hundred day moving average is $49.74. The company has a quick ratio of 1.39, a current ratio of 1.51 and a debt-to-equity ratio of 0.51.

Granite Construction (NYSE:GVA) last posted its quarterly earnings results on Thursday, February 22nd. The construction company reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.02). The business had revenue of $933.70 million for the quarter. Granite Construction had a return on equity of 14.91% and a net margin of 0.98%. During the same quarter in the previous year, the firm earned $0.56 EPS. Research analysts forecast that Granite Construction Incorporated will post 4.29 earnings per share for the current fiscal year.

Granite Construction Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were issued a $0.13 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $0.52 annualized dividend and a dividend yield of 0.84%. Granite Construction’s dividend payout ratio is presently 88.14%.

Hedge Funds Weigh In On Granite Construction

Institutional investors have recently added to or reduced their stakes in the stock. Adage Capital Partners GP L.L.C. acquired a new stake in shares of Granite Construction in the 3rd quarter worth $8,554,000. Empower Advisory Group LLC raised its stake in Granite Construction by 2.0% during the third quarter. Empower Advisory Group LLC now owns 378,995 shares of the construction company’s stock worth $14,409,000 after purchasing an additional 7,298 shares during the period. Illinois Municipal Retirement Fund acquired a new position in Granite Construction in the 3rd quarter valued at about $978,000. Rock Point Advisors LLC increased its holdings in shares of Granite Construction by 0.9% during the 3rd quarter. Rock Point Advisors LLC now owns 138,430 shares of the construction company’s stock worth $5,263,000 after buying an additional 1,172 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of Granite Construction by 8.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 391,957 shares of the construction company’s stock valued at $14,902,000 after buying an additional 31,438 shares during the period.

Wall Street Analysts Forecast Growth

GVA has been the subject of a number of recent analyst reports. The Goldman Sachs Group lifted their price objective on shares of Granite Construction from $44.00 to $50.00 and gave the company a “sell” rating in a report on Tuesday, April 16th. DA Davidson raised their target price on Granite Construction from $60.00 to $64.00 and gave the company a “buy” rating in a research report on Tuesday, February 27th.

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.