Granite Construction (NYSE:GVA) Director John Timothy Romer Acquires 375 Shares

Granite Construction Incorporated (NYSE:GVA) Director John Timothy Romer bought 375 shares of the firm’s stock in a transaction dated Monday, June 15th. The stock was purchased at an average price of $143.65 per share, with a total value of $53,868.75. Following the transaction, the director owned 2,801 shares in the company, valued at approximately $402,363.65. This represents a 15.46% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

John Timothy Romer also recently made the following trade(s):

• On Friday, June 12th, John Timothy Romer bought 375 shares of Granite Construction stock. The stock was purchased at an average price of $141.79 per share, with a total value of $53,171.25.

Granite Construction Stock Performance

Shares of GVA traded up $0.49 during mid-day trading on Monday, hitting $141.09. The stock had a trading volume of 513,892 shares, compared to its average volume of 667,706. The company has a market cap of $6.17 billion, a PE ratio of 40.66 and a beta of 1.32. The company’s fifty day simple moving average is $132.28 and its two-hundred day simple moving average is $125.07. The company has a quick ratio of 0.97, a current ratio of 1.09 and a debt-to-equity ratio of 0.80. Granite Construction Incorporated has a fifty-two week low of $88.17 and a fifty-two week high of $145.00.

Granite Construction (NYSE:GVA) last issued its earnings results on Thursday, April 30th. The construction company reported $0.26 EPS for the quarter, topping the consensus estimate of ($0.77) by $1.03. Granite Construction had a return on equity of 24.90% and a net margin of 3.99%.The company had revenue of $912.47 million during the quarter, compared to analyst estimates of $782.26 million. During the same quarter last year, the firm earned $0.01 EPS. The business’s revenue was up 30.4% on a year-over-year basis. On average, equities analysts expect that Granite Construction Incorporated will post 5.13 earnings per share for the current year.

Granite Construction Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a dividend of $0.13 per share. The ex-dividend date is Tuesday, June 30th. This represents a $0.52 dividend on an annualized basis and a yield of 0.4%. Granite Construction’s payout ratio is currently 14.99%.

Institutional Investors Weigh In On Granite Construction

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Oliver Luxxe Assets LLC purchased a new position in shares of Granite Construction during the fourth quarter valued at $1,783,000. Boothbay Fund Management LLC grew its holdings in shares of Granite Construction by 9.1% during the third quarter. Boothbay Fund Management LLC now owns 160,331 shares of the construction company’s stock valued at $17,580,000 after buying an additional 13,401 shares in the last quarter. Leuthold Group LLC grew its holdings in shares of Granite Construction by 1,591.8% during the fourth quarter. Leuthold Group LLC now owns 45,223 shares of the construction company’s stock valued at $5,216,000 after buying an additional 42,550 shares in the last quarter. Elo Mutual Pension Insurance Co purchased a new position in shares of Granite Construction during the third quarter valued at $2,013,000. Finally, Neo Ivy Capital Management purchased a new position in shares of Granite Construction during the third quarter valued at $622,000.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Oppenheimer assumed coverage on Granite Construction in a research report on Thursday, May 28th. They set an “outperform” rating and a $170.00 price objective for the company. Zacks Research upgraded Granite Construction to a “hold” rating in a research report on Friday, May 29th. Wall Street Zen lowered Granite Construction from a “buy” rating to a “hold” rating in a research report on Saturday, May 30th. Finally, Weiss Ratings lowered Granite Construction from a “buy (b)” rating to a “hold (c+)” rating in a research report on Wednesday, May 6th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $149.67.

Granite Construction Company Profile

Granite Construction Inc is a publicly traded heavy civil contractor and construction materials producer based in Watsonville, California. The company specializes in delivering large-scale infrastructure projects for government and private clients, focusing on the development, rehabilitation and maintenance of transportation, water resource and industrial facilities. Its turnkey solutions span the full project lifecycle, from preconstruction and design-build to construction management and facilities maintenance.

In its construction segment, Granite undertakes highway and bridge building, airport runway and taxiway construction, marine terminal and port improvements, dam and reservoir projects, transit systems and underground utilities.