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 stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $61.21, for a total transaction of $45,907.50. Following the completion of the sale, the senior vice president now directly owns 7,423 shares in the company, valued at $454,361.83. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Granite Construction Trading Down 0.4 %

Shares of NYSE GVA traded down $0.22 during midday trading on Tuesday, reaching $59.56. 946,792 shares of the stock were exchanged, compared to its average volume of 379,948. The company has a current ratio of 1.51, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $2.63 billion, a P/E ratio of 101.39 and a beta of 1.45. The stock has a 50 day moving average price of $54.85 and a 200-day moving average price of $49.40. Granite Construction Incorporated has a 52-week low of $33.74 and a 52-week high of $61.62.

Granite Construction (NYSE:GVA) last issued 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 company posted $0.56 earnings per share. Equities research analysts expect that Granite Construction Incorporated will post 4.29 earnings per share for the current fiscal year.

Granite Construction Dividend Announcement

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

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Granite Construction

Hedge funds have recently modified their holdings of the stock. Exchange Traded Concepts LLC purchased a new position in Granite Construction during the third quarter worth approximately $27,000. GAMMA Investing LLC acquired a new stake in shares of Granite Construction during the 4th quarter worth $43,000. Wellington Shields & Co. LLC raised its position in shares of Granite Construction by 30.8% in the 1st quarter. Wellington Shields & Co. LLC now owns 850 shares of the construction company’s stock worth $49,000 after buying an additional 200 shares during the period. Riverview Trust Co acquired a new position in Granite Construction in the first quarter valued at $107,000. Finally, Toth Financial Advisory Corp grew its position in 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 acquiring an additional 650 shares during the period.

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.