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 company’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $61.21, for a total value of $45,907.50. Following the transaction, the senior vice president now directly owns 7,423 shares in the company, valued at approximately $454,361.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Granite Construction Stock Down 0.4 %

Shares of NYSE:GVA opened at $59.56 on Wednesday. The company has a quick ratio of 1.39, a current ratio of 1.51 and a debt-to-equity ratio of 0.51. The business’s 50 day moving average is $55.04 and its 200 day moving average is $49.57. The stock has a market cap of $2.63 billion, a P/E ratio of 100.95 and a beta of 1.45. Granite Construction Incorporated has a 52-week low of $33.74 and a 52-week high of $61.62.

Granite Construction (NYSE:GVA) last announced its quarterly earnings results on Thursday, February 22nd. The construction company reported $0.82 EPS for the quarter, missing the consensus estimate of $0.84 by ($0.02). Granite Construction had a net margin of 0.98% and a return on equity of 14.91%. The firm had revenue of $933.70 million for the quarter. During the same quarter in the prior year, the company posted $0.56 EPS. Sell-side analysts predict that Granite Construction Incorporated will post 4.29 EPS for the current year.

Granite Construction Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were given a $0.13 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $0.52 annualized dividend and a dividend yield of 0.87%. Granite Construction’s payout ratio is presently 88.14%.

Hedge Funds Weigh In On Granite Construction

A number of hedge funds and other institutional investors have recently modified their holdings of GVA. Exchange Traded Concepts LLC purchased a new stake in Granite Construction during the third quarter worth $27,000. GAMMA Investing LLC bought a new position in shares of Granite Construction in the 4th quarter worth $43,000. Wellington Shields & Co. LLC grew its stake in Granite Construction by 30.8% in the first quarter. Wellington Shields & Co. LLC now owns 850 shares of the construction company’s stock valued at $49,000 after purchasing an additional 200 shares during the last quarter. Riverview Trust Co bought a new position in Granite Construction in the first quarter worth about $107,000. Finally, Toth Financial Advisory Corp lifted its position in shares of Granite Construction by 35.1% during the fourth quarter. Toth Financial Advisory Corp now owns 2,500 shares of the construction company’s stock valued at $127,000 after buying an additional 650 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on GVA shares. DA Davidson upped their price objective on Granite Construction from $60.00 to $64.00 and gave the company a “buy” rating in a research report on Tuesday, February 27th. The Goldman Sachs Group upped their price target on shares of Granite Construction from $44.00 to $50.00 and gave the stock a “sell” rating in a report on Tuesday, April 16th.

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.