Granite Construction Incorporated (NYSE:GVA) SVP Brian R. Dowd Sells 2,025 Shares

Granite Construction Incorporated (NYSE:GVA) SVP Brian R. Dowd sold 2,025 shares of the stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $81.55, for a total value of $165,138.75. Following the completion of the sale, the senior vice president now 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 filing with the Securities & Exchange Commission, which is available at the SEC website.

Granite Construction Stock Up 1.5 %

NYSE:GVA opened at $82.51 on Monday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.56 and a current ratio of 1.66. The company has a market cap of $3.58 billion, a PE ratio of 33.40 and a beta of 1.42. Granite Construction Incorporated has a 52-week low of $50.81 and a 52-week high of $105.20. The stock has a 50-day simple moving average of $88.10 and a 200 day simple moving average of $85.82.

Granite Construction (NYSE:GVA) last posted its quarterly earnings data on Thursday, February 13th. The construction company reported $1.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.19). The firm had revenue of $977.30 million for the quarter. Granite Construction had a return on equity of 20.67% and a net margin of 3.15%. During the same period in the previous year, the firm posted $0.82 EPS. On average, sell-side analysts expect that Granite Construction Incorporated will post 5.49 EPS for the current fiscal year.

Granite Construction Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a dividend of $0.13 per share. The ex-dividend date was Tuesday, December 31st. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.63%. Granite Construction’s payout ratio is presently 21.05%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of GVA. Federated Hermes Inc. bought a new position in Granite Construction in the fourth quarter valued at approximately $26,000. Quarry LP grew its stake in Granite Construction by 68.4% in the fourth quarter. Quarry LP now owns 325 shares of the construction company’s stock valued at $29,000 after purchasing an additional 132 shares in the last quarter. Blue Trust Inc. grew its stake in Granite Construction by 66.4% in the third quarter. Blue Trust Inc. now owns 902 shares of the construction company’s stock valued at $72,000 after purchasing an additional 360 shares in the last quarter. Aster Capital Management DIFC Ltd grew its stake in Granite Construction by 112.8% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 900 shares of the construction company’s stock valued at $79,000 after purchasing an additional 477 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC bought a new position in Granite Construction in the fourth quarter valued at approximately $89,000.

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.