Granite Construction Incorporated (GVA) to Issue Quarterly Dividend of $0.13 on April 15th

Granite Construction Incorporated (NYSE:GVA) announced a quarterly dividend on Tuesday, March 18th, RTT News reports. Stockholders of record on Monday, March 31st will be given a dividend of 0.13 per share by the construction company on Tuesday, April 15th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date is Monday, March 31st.

Granite Construction has a dividend payout ratio of 8.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect Granite Construction to earn $6.97 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 7.5%.

Granite Construction Price Performance

Granite Construction stock opened at $75.15 on Friday. The business’s 50-day simple moving average is $82.57 and its 200 day simple moving average is $86.19. The company has a quick ratio of 1.56, a current ratio of 1.66 and a debt-to-equity ratio of 0.68. The stock has a market cap of $3.26 billion, a price-to-earnings ratio of 30.42 and a beta of 1.34. Granite Construction has a 12-month low of $52.99 and a 12-month high of $105.20.

Granite Construction (NYSE:GVA) last issued its earnings results on Thursday, February 13th. The construction company reported $1.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.42 by ($0.19). The business had revenue of $977.30 million during the quarter. Granite Construction had a net margin of 3.15% and a return on equity of 20.67%. During the same quarter in the previous year, the business earned $0.82 earnings per share. As a group, research analysts anticipate that Granite Construction will post 5.49 earnings per share for the current year.

Insider Buying and Selling at Granite Construction

In other news, SVP Brian R. Dowd sold 2,025 shares of Granite Construction stock in a transaction on Friday, February 28th. The shares were sold at an average price of $81.55, for a total transaction of $165,138.75. Following the transaction, the senior vice president now directly owns 13,880 shares of the company’s stock, valued at $1,131,914. This trade represents a 12.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO James A. Radich sold 2,500 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $87.14, for a total value of $217,850.00. Following the completion of the transaction, the chief operating officer now directly owns 28,256 shares of the company’s stock, valued at approximately $2,462,227.84. The trade was a 8.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.81% of the company’s stock.

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.