Insider Selling: Granite Construction Incorporated (NYSE:GVA) SVP Sells 750 Shares of Stock

Granite Construction Incorporated (NYSE:GVA) SVP Bradley Jay Williams sold 750 shares of the company’s stock in a transaction 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 completion of the transaction, the senior vice president now owns 7,423 shares of the company’s stock, valued at $454,361.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Granite Construction Trading Up 1.2 %

NYSE:GVA opened at $62.06 on Friday. The business’s 50-day moving average is $55.46 and its two-hundred day moving average is $49.74. The firm has a market capitalization of $2.74 billion, a PE ratio of 105.19 and a beta of 1.45. Granite Construction Incorporated has a 12 month low of $33.74 and a 12 month high of $62.50. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.51 and a quick ratio of 1.39.

Granite Construction (NYSE:GVA) last released 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). The company 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 business earned $0.56 earnings per share. Research analysts predict that Granite Construction Incorporated will post 4.29 earnings per share for the current fiscal year.

Granite Construction Dividend Announcement

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

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Granite Construction

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wasatch Advisors LP increased its holdings in Granite Construction by 637.4% in the first quarter. Wasatch Advisors LP now owns 936,858 shares of the construction company’s stock valued at $53,523,000 after buying an additional 809,803 shares during the last quarter. Norges Bank bought a new stake in shares of Granite Construction in the 4th quarter valued at approximately $13,755,000. Frontier Capital Management Co. LLC raised its position in shares of Granite Construction by 21.6% during the 4th quarter. Frontier Capital Management Co. LLC now owns 1,388,044 shares of the construction company’s stock valued at $70,596,000 after acquiring an additional 246,154 shares in the last quarter. Adage Capital Partners GP L.L.C. bought a new position in Granite Construction during the third quarter worth $8,554,000. Finally, Hennessy Advisors Inc. acquired a new position in Granite Construction in the fourth quarter worth $3,814,000.

Granite Construction Company Profile

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.